The Capital Acquisitions Tax Form IT 38 has been enhanced in relation to Favourite Niece/Nephew Relief and in relation to Capital Gains Tax. The ROS IT 38 form was launched by Revenue in June.
To install the most up to date version of the IT38 form:
- Open the ROS Offline Application
- Select “Download”
- Select “Refresh”
- Scroll to the “Form IT38”
- Select the “Upgrade” button
Readers who have prepared Forms IT38 for clients, using an earlier version of the form, that have not yet been filed, should open them in ROS Offline, review the content and save them again before uploading them on ROS. This will ensure that the most up to date version of the return is used.
Readers should also note that under the “Print” option on the ROS Offline Application, the current benefit is displayed as though it has been rounded down to the nearest thousand. This is not affecting the correct calculation of the tax due and will be corrected in a further upgrade in September.