31 October 2015 Income Tax Deadline

The 31 October 2015 deadline for the submission of income tax returns is fast approaching. Those obliged to submit tax returns are:

  • Self employed individuals
  • Landlords
  • Farmers
  • Company directors

Tax payable  by 31 October (or 13 November where returns are filed on ROS) include

  • Income Tax due for 2014
  • Preliminary tax due for 2015 (which in general is either 100% of your 2014 liability or an estimate of 90% of 2015’s liability)
  • CGT return for disposals made during 2014 (failure to submit a return even if CGT has already been paid can result in a 10% penalty)

Failure to submit an income tax return or late submission could result in

  • Interest of circa 8% per year on any liability arising, including interest due on any preliminary tax not paid or underpaid
  • Penalty of 5% – 10% of the tax due
  • Increased risk of Revenue Audit

Prices for tax returns start from €150, landlord rental accounts and tax return only €200.

Contact us today for a FREE discussion of your own circumstances and a more accurate quote