Stay ahead with Forti's comprehensive guide on tax report deadlines. You can learn the key dates, filing requirements, and step by step instructions to ensure free tax feeling. Avoid penalties with our expert tips and keep your finance in check. For more information, visit our website now!
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Tax Report Deadlines:
A Step-By-Step Guide
For Hassle-Free Filing
Filing taxes can be a daunting task, especially for
those who are unfamiliar with the process or have
complex financial situations. Here are some common
challenges people face during tax filing and how this
guide aims to provide solutions
Understanding the
Importance of Timely
Tax Filing
Overview: Tax Filing In Ireland:
Tax filing in Ireland requires individuals and businesses to submit returns to Revenue,
the national tax authority. Key taxes include Income Tax, Corporation Tax, VAT, and PAYE.
Filing can be done through the Revenue Online Service (ROS), with strict deadlines and
penalties for late submissions or inaccurate filings.
Consequences of late or incorrect filing (e.g., fines, penalties):
Late or incorrect tax filing in Ireland can lead to serious consequences, including fines,
penalties, and interest on overdue amounts. Revenue may impose surcharges, ranging from
5% to 10% of the tax due, and delay future refunds. Repeated non-compliance can also
trigger audits or legal action.
How this guide will help ensure hassle-free filing:
This guide simplifies the tax filing process by breaking down key deadlines, required
documents, and step-by-step instructions for both individuals and businesses in Ireland.
It also offers tips to avoid common mistakes, ensure compliance, and leverage tax credits,
ensuring a smooth and hassle-free filing experience.
Key Tax Deadlines in Ireland
Filing deadline for the current tax year:
The deadline for filing Income Tax returns for the current tax year (Form 11 for self-employed or Form
12 for PAYE) is typically October 31st of the following year.
For those filing through the Revenue Online Service (ROS), the deadline is extended to mid-November.
Preliminary tax deadline:
Self-employed individuals must pay preliminary tax by October 31st of the current year. Preliminary
tax is an estimate of the tax due for the ongoing year, generally based on 90% of the expected tax
liability.
Late filing penalties:
A late filing fee of €250 to €1,265, depending on the delay, plus interest on the unpaid amount at a rate
of 8% per annum may apply. Repeat offenders could also face further penalties.
https://forti.ie/tax-deadlines/
Corporation Tax
Filing Tax Report deadline for companies:
Companies must file their Corporation Tax return (Form CT1) no later than 9
months after the end of the accounting period. For example, if a company's
year ends on December 31st, the return must be submitted by September 23rd
of the following year.
Penalties for late filing:
Late filing incurs a penalty of €100 to €1,265, depending on the size of the
company, with interest charges on unpaid tax at 8% per annum. In addition,
companies may lose eligibility for tax reliefs.
VAT Returns
Bi-monthly VAT return deadlines:
VAT returns must be submitted bi-monthly. The deadline is the 19th of the month
following the end of the two-month period. For example, for the January-
February VAT period, the return is due by March 19th.
VAT return submission methods:
VAT returns must be filed electronically via the Revenue Online Service (ROS).
There are additional quarterly or annual filing options available for smaller
businesses with lower turnover.
PAYE (Pay As You Earn) for
Employers
Monthly/quarterly deadline for PAYE reporting:
Employers must file a monthly PAYE return by the 15th of the following month.
For quarterly filing, returns are due by the 15th day of the month after each
quarter (April 15th, July 15th, October 15th, and January 15th).
Year-end P35 submission deadline:
The P35 end-of-year return was previously required by February 15th following
the tax year. However, since the introduction of the PAYE Modernisation System
in 2019, P35s are no longer required. Employers now submit real-time
information throughout the year.
Step-by-Step Guide for Filing Taxes in Ireland
Step 2: Verify
Eligibility for Tax
Credits and Reliefs
o Overview of tax credits
(personal
tax
credit,
PAYE tax credit, etc.).
o Reliefs
for different
taxpayers
(home
carer,
medical expenses, etc.).
Step 5: Make
Payments
o How to calculate the taxes
you owe.
o Payment options (bank
transfer, direct debit, etc.).
o Installment arrangements if
you can't pay in full.
Step 4: Use ROS
(Revenue Online
Service)
o Guide on registering for
ROS.
o How to file returns online
through ROS.
o Common issues and how to
troubleshoot.
Step 1: Gather
Essential Documents
o Details on required financial
records (invoices, receipts,
expenses, etc.).
o Specific documents needed
for different types of taxes
(Income Tax, VAT, Corporation
Tax).
Step 3: Complete
Tax Forms
o How to fill out self-
assessment forms for income
tax.
o Explanation of forms
required
for
VAT,
corporation tax, and PAYE.
Common Tax Filing Mistakes to Avoid:
Missing deadlines.
Inaccurate calculations.
Failing to claim deductions or tax credits.
Not keeping proper financial records.
Penalties and How to Avoid Them:
Overview of penalties for missed or late tax returns.
How to request an extension or appeal against
penalties.
Ways to avoid penalties through proper tax planning.
tel:019065862
https://forti.ie/
Contact Us
Telephone
Website
Address
01-9065862
www.forti.ie
Glencullen House,
Kylemore Rd, Dublin
10, D10 K729
Thank YOu
A Step-By-Step Guide
For Hassle-Free Filing
Filing taxes can be a daunting task, especially for
those who are unfamiliar with the process or have
complex financial situations. Here are some common
challenges people face during tax filing and how this
guide aims to provide solutions
Understanding the
Importance of Timely
Tax Filing
Overview: Tax Filing In Ireland:
Tax filing in Ireland requires individuals and businesses to submit returns to Revenue,
the national tax authority. Key taxes include Income Tax, Corporation Tax, VAT, and PAYE.
Filing can be done through the Revenue Online Service (ROS), with strict deadlines and
penalties for late submissions or inaccurate filings.
Consequences of late or incorrect filing (e.g., fines, penalties):
Late or incorrect tax filing in Ireland can lead to serious consequences, including fines,
penalties, and interest on overdue amounts. Revenue may impose surcharges, ranging from
5% to 10% of the tax due, and delay future refunds. Repeated non-compliance can also
trigger audits or legal action.
How this guide will help ensure hassle-free filing:
This guide simplifies the tax filing process by breaking down key deadlines, required
documents, and step-by-step instructions for both individuals and businesses in Ireland.
It also offers tips to avoid common mistakes, ensure compliance, and leverage tax credits,
ensuring a smooth and hassle-free filing experience.
Key Tax Deadlines in Ireland
Filing deadline for the current tax year:
The deadline for filing Income Tax returns for the current tax year (Form 11 for self-employed or Form
12 for PAYE) is typically October 31st of the following year.
For those filing through the Revenue Online Service (ROS), the deadline is extended to mid-November.
Preliminary tax deadline:
Self-employed individuals must pay preliminary tax by October 31st of the current year. Preliminary
tax is an estimate of the tax due for the ongoing year, generally based on 90% of the expected tax
liability.
Late filing penalties:
A late filing fee of €250 to €1,265, depending on the delay, plus interest on the unpaid amount at a rate
of 8% per annum may apply. Repeat offenders could also face further penalties.
https://forti.ie/tax-deadlines/
Corporation Tax
Filing Tax Report deadline for companies:
Companies must file their Corporation Tax return (Form CT1) no later than 9
months after the end of the accounting period. For example, if a company's
year ends on December 31st, the return must be submitted by September 23rd
of the following year.
Penalties for late filing:
Late filing incurs a penalty of €100 to €1,265, depending on the size of the
company, with interest charges on unpaid tax at 8% per annum. In addition,
companies may lose eligibility for tax reliefs.
VAT Returns
Bi-monthly VAT return deadlines:
VAT returns must be submitted bi-monthly. The deadline is the 19th of the month
following the end of the two-month period. For example, for the January-
February VAT period, the return is due by March 19th.
VAT return submission methods:
VAT returns must be filed electronically via the Revenue Online Service (ROS).
There are additional quarterly or annual filing options available for smaller
businesses with lower turnover.
PAYE (Pay As You Earn) for
Employers
Monthly/quarterly deadline for PAYE reporting:
Employers must file a monthly PAYE return by the 15th of the following month.
For quarterly filing, returns are due by the 15th day of the month after each
quarter (April 15th, July 15th, October 15th, and January 15th).
Year-end P35 submission deadline:
The P35 end-of-year return was previously required by February 15th following
the tax year. However, since the introduction of the PAYE Modernisation System
in 2019, P35s are no longer required. Employers now submit real-time
information throughout the year.
Step-by-Step Guide for Filing Taxes in Ireland
Step 2: Verify
Eligibility for Tax
Credits and Reliefs
o Overview of tax credits
(personal
tax
credit,
PAYE tax credit, etc.).
o Reliefs
for different
taxpayers
(home
carer,
medical expenses, etc.).
Step 5: Make
Payments
o How to calculate the taxes
you owe.
o Payment options (bank
transfer, direct debit, etc.).
o Installment arrangements if
you can't pay in full.
Step 4: Use ROS
(Revenue Online
Service)
o Guide on registering for
ROS.
o How to file returns online
through ROS.
o Common issues and how to
troubleshoot.
Step 1: Gather
Essential Documents
o Details on required financial
records (invoices, receipts,
expenses, etc.).
o Specific documents needed
for different types of taxes
(Income Tax, VAT, Corporation
Tax).
Step 3: Complete
Tax Forms
o How to fill out self-
assessment forms for income
tax.
o Explanation of forms
required
for
VAT,
corporation tax, and PAYE.
Common Tax Filing Mistakes to Avoid:
Missing deadlines.
Inaccurate calculations.
Failing to claim deductions or tax credits.
Not keeping proper financial records.
Penalties and How to Avoid Them:
Overview of penalties for missed or late tax returns.
How to request an extension or appeal against
penalties.
Ways to avoid penalties through proper tax planning.
tel:019065862
https://forti.ie/
Contact Us
Telephone
Website
Address
01-9065862
www.forti.ie
Glencullen House,
Kylemore Rd, Dublin
10, D10 K729
Thank YOu