Income Tax filers are required to file their 2014 Tax Return and pay their liabilities on or before 31 October 2015. Under the self-assessment obligations contained in the Taxes Consolidation Act 1997 (as amended), it is the customer’s responsibility to calculate their own tax liabilities and complete the self-assessment section of the Form 11 Tax Return.
Where a customer files their Form 11 on or before 31 August 2015, Revenue will calculate the tax, PRSI and Universal Social Charge (USC) liabilities on their behalf. This greatly simplifies the process for customers and will assist them in meeting their obligations to file a self-assessment, and in ensuring they pay the correct amount due by 31 October. Earlier filing of a tax return does not mean that a customer has to pay their liability any earlier; the final payment date remains at 31 October.
If a customer files their Form 11 after 31 August 2015 they must make their own self-assessment and calculate the tax, PRSI and USC due by 31 October 2015.
Revenue is currently sending reminder letters to customers who were sent paper Form 11 returns earlier this year. The letters are intended to assist customers in meeting their obligation to file a self-assessment by reminding them that Revenue will calculate the liabilities due if they file their Form 11 on or before 31 August 2015.
It is important to remember that a late filing surcharge will be added to the tax, PRSI and USC liabilities if a Form 11 return is filed after 31 October 2015. However, if the Form 11 is filed and the liabilities paid using the Revenue Online Service (ROS), an extended filing and payment date of 12 November 2015 applies.