Republic of Ireland Tax Deadlines
Author:
David Fennell
General
1 April 2005
The 2005 Finance Bill introduced EU minimum tax rates for auto LPG, non-auto LPG and heavy fuel oil. This will result in small excise increases for relevant products. In the case of auto LPG, the increase will be around 1.5 per cent per litre and only a fraction of 1 cent per litre in the case of non-auto LPG and heavy fuel oil. These increases are effective from 1 April 2005.
With effect from 1 April 2005, interest on certain overdue tax will be subject to a rate of 0.0273% per day (just under 10% per annum). Previously, the rate of interest applying on overdue tax was 0.0322% per day (approximately 11.75% per annum). The reduction does not apply to fiduciary taxes such as PAYE, DIRT and other withholding and exit taxes.
2 April 2005
The 2005 Finance Bill provides that an exemption from a second charge to stamp duty will apply where an individual switches credit, laser or ATM cards during the year. The change in relation to credit cards and charge cards will take effect from 2 April 2005.
5 April 2005
Any tax repayments claims for 2000/01 must be made on or before 5 April 2005.
15 April 2005
From 1 January 2005, betting duty is paid and returned on a quarterly basis (previously a monthly basis applied). Under this new regime, 15 April 2005 is the due date for the return and payment for the period 1 January 2005 to 31 March 2005.
1 May 2005
Authorisation for "approved exporters" granted in the framework of agreements concluded with countries not within the EU Community must be replaced by new authorisations issued in accordance with Community legislation by 1 May 2005.
With effect from 1 May 2005, the 2005 Finance Bill added 10 new bodies to the list of 'accountable persons' who are exempt from Professional Services Withholding Tax (PSWT).
31 May 2005
The deadline for submitting Form P11D, which reports benefits given to employees by companies, for 2004, is 31 May 2005, where the Inspector of Taxes has requested that Form P11D be completed.
Relevant dates for companies
14 April 2005
Dividend withholding tax return filing and payment date (for distributions made in March 2005).
21 April 2005
Due date for payment of 1st instalment of preliminary tax for companies with a financial year ended 31 May 2005 and due date for payment of 2nd instalment of preliminary corporation tax for companies with a financial year ended 31 October 2004.
Last date for filing corporation tax return CT1 for companies with a financial year ending on 31 July 2004 with the Collector General's Office. Due date for balancing payments for the same period.
30 April 2005
Last date for filing third party payments return 46G for companies with a financial year ending on 31 July 2004.
Latest date for payment of dividends for the period ended 31 October 2003 to avoid Sections 440 and 441 TCA97 surcharges on investment/rental/professional services income arising in that period (close companies only).
14 May 2005
Dividend withholding tax return filing and payment date (for distributions made in April 2005).
21 May 2005
Due date for payment of 1st instalment of preliminary tax for companies with a financial year ended 30 June 2005 and 2nd instalment of preliminary corporation tax for companies with a financial year ended 30 November 2004.
Last date for filing corporation tax return CT1 for companies with a financial year ending on 31 August 2004. Due date for any balancing payment in respect of the same accounting period.
31 May 2005
Last date for filing third party payments return 46G for companies with a financial year ending on 31 August 2004.
Latest date for payment of dividends for the period ended 30 November 2003 to avoid Sections 440 and 441 TCA97 surcharges on investment/ rental/ professional services income arising in that period (close companies only).
Note: The above deadlines may be affected by matters raised at the Select Committee or Report Stages of the 2005 Finance Bill.