Tuesday, November 15, 2011
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%)
Filed in ACCA, Accountancy, Accountant, Income Tax, Taxation
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Also tagged accountant dublin, do a tax return, financial audit, pay less tax, paying taxes, revenue online service, ros, tax audit, tax return 2010, tax return 2011, tax return deadline, taxation
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The headline this week is from the famous quote that ‘the only sure things in life are death and taxes’. We have looked at death in the past from the perspective of Life Assurance, this week it’s about taxes – and more importantly, what to do if you can’t pay them or if you are not sure about your taxes. The good news is that the Revenue Commissioners in Ireland are a fairly effective bunch and the people there are well briefed and effective (this is no surprise as their duty is to make sure everybody pays up!). Revenue are well aware of the state of the economy, and that business
Filed in Accountancy, Advisors.ie In the Press, Deposit Interest Retention Tax, Financial Advice, Income Tax, News of the World, Taxation
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Also tagged 2003 taxes consolidation act, deposit interest retention tax, DIRT, paye tax returns, revenue commissioners, tax questions, tax returns, taxation, taxation issues
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Wednesday, January 26, 2011
Today we heard that there were a number of concessions made in the passing of the Finance Act to committee stage, and one of them was to be the year end being kept the same – 31st of October rather than bringing it forward to the end of September.
