Filing your returns and paying your taxes
This
section provides guidance to taxpayers and agents in relation to
- the filing of tax returns;
- tax payment queries and managing monthly direct debits;
- warehousing of deferred tax debt and interest suspension arrangements;
- debt management; and
- Local Property Tax (LPT).
Filing Tax Returns
Taxpayers are advised to continue to file their tax returns even where payment of the resulting liability is not possible. In cases where staff involved in the computation of returns are unavailable taxpayers are advised to submit the relevant return on a ‘best estimate’ basis.
The application of a surcharge for late CT1 Corporation Tax returns and iXBRL financial statements (where applicable) for accounting periods ending June 2019 onwards (i.e. due by March 23, 2020 onwards) is suspended until further notice.
Where a CT1 Corporation Tax return, in respect of an accounting period ending June 2019 onwards and due by 23 March 2020 onwards -
- is filed late
- is not a return that is deemed to be filed late under section 1084(1)(b) TCA 1997
- and
- the late filing is the result of COVID-19 circumstances,
the late CT1 return may be completed without the restriction of reliefs, such as loss relief and group relief, required by section 1085(2) TCA 1997.
Warehousing of deferred tax debt and interest suspension arrangements
The Revenue Commissioners have suspended debt collection and charging interest on late payment of tax on VAT and PAYE liabilities for the following periods;
VAT
- January/February 2020
- March/April/2020; and
- May/June 2020
PAYE
- February 2020;
- March 2020;
- April 2020;
- May 2020; and
- June 2020
Further details on the warehousing of deferred tax debt and interest suspension arrangements are set out in the document below;
https://www.revenue.ie/en/corporate/communications/documents/tax-debts-warehousing.pdf
Local Property Tax (LPT)
For property owners who opted to pay their LPT for 2020 by annual debit instruction (ADI), the Revenue Commissioners have announced a further extension to the deduction date to 21 July 2020.
Useful links
Statement by Revenue Commissioners to businesses experiencing tax payment problems
measures to assist SME’s experiencing cashflow difficulties arising from COVID-19
Guidelines for Phased Payment Instalment Arrangements
Stamp duty on Credit Cards, due to be collected 1 April 2020, will not now be collected until 1 July 2020.