Monthly Archives: November 2011

Tax deadline changed to Midnight on the 16th of November

The normal cut off date for tax returns is the 31st of October unless you do the return electronically via Revenue Online Service (ROS) in which case it is today. However (and we never found out why) Revenue have recently determined that the 16th of November will instead be the final date. This means that anybody who has non-PAYE income to declare for 2010 still has a little time left to make the return on time.

If you don’t you’ll face a 5% surcharge on the tax bill up to December after which the surcharge rises to 10%. If you get the surcharge it means your rate of tax effectively rises by 10% (not absolute, but relative ie: 20% goes to 22%, 41% goes to 45%)

RTE News at 1, PTsb mortgage bonus scheme, 14th November 2011

We were interviewed by RTE News at One with John Finnerty. The topic was a potential bonus scheme that PTsb are likely to announce for tracker mortgage customers who pay down their loan early. They are doing this because they want to deleverage and if they include repricing in the option then it may give them the ability to make money on these loss making loans.