Tax

Tax deadlines - December 2017

Dec 01, 2017
Helen Byrne, Senior Tax Manager at EY, outlines the relevant compliance dates for December and January.

Relevant dates for companies

14 December 2017
Dividend withholding tax return filing and payment date for distributions made in November 2017.

21 December 2017

Due date for payment of preliminary tax for companies with a financial year ended 31 January 2018. If paid using Revenue Online Service (ROS), this date is extended to 23 December 2017.

Due date for payment of initial instalments of preliminary tax for companies (not “small” companies) with a financial year ended 30 June 2018. If paid using ROS, this date is extended to 23 December 2017.

23 December 2017
Last date for filing corporation tax return Form CT1 for companies with a financial year ending on 31 March 2017 if filed using ROS. 

Due date for any balancing payment in respect of the same accounting period.

Loans advanced to participators in a close company in the year ended
31 March 2017 may need to be repaid by 23 December 2017 to avoid the assessment (on the company) of income tax thereon.

A concessional three-month filing extension for iXBRL financial statements (not Form CT1) may apply. For 31 December 2016 year ends, this should extend the iXBRL deadline to 23 December 2017.

31 December 2017
Last date for filing third-party payments return Form 46G for companies with a financial year ending on 31 March 2017.

Latest date for payment of dividends for the period ended 30 June 2016 to avoid Sections 440 and 441 TCA97 surcharges on investment, rental or professional services income arising in that period (close companies only).

Contributions made by employers to approved occupational pension schemes are tax-deductible on a payment basis, as are charges on income (patent royalties and certain interest, for example). Companies with 31 December year ends may wish to review their positions to maximise or minimise deductions before the year end.

A two-year time limit applies to some corporation tax group relief and loss relief claims. Potential claims for the period ending 31 December 2015 may need to be considered prior to 31 December 2017.

Research and development (R&D) tax credits in respect of R&D expenditure incurred in an accounting period ended 31 December 2016 must be claimed by 31 December 2017. A similar deadline applies to capital allowance claims for intangible assets. 

Country-by-Country Reports must be filed with Revenue no later than 12 months after the last day of the fiscal year to which the Country-by-Country Reports relates. Country-by-Country Reports for the fiscal year ended
31 December 2016 must be filed with Revenue no later than 31 December 2017.

14 January 2018
Dividend withholding tax return filing and payment date for distributions made in December 2017.

21 January 2018

Due date for payment of preliminary tax for companies with a financial year ended 28 February 2018. If this is paid using ROS, this date is extended to
23 January 2018.

Due date for payment of initial instalments of preliminary tax for companies (not “small” companies) with a financial year ended 31 July 2018. If paid using ROS, this date is extended to 23 January 2018.

23 January 2018
Last date for filing corporation tax return Form CT1 for companies with a financial year ending on 30 April 2017 if filed using ROS.

Due date for any balancing payment in respect of the same accounting period.

Loans advanced to participators in a close company in the year ended
30 April 2017 may need to be repaid by 23 January 2018 to avoid the assessment (on the company) of income tax thereon.

A concessional three-month filing extension for iXBRL financial statements (not Form CT1) may apply. For 31 January 2017 year ends, this should extend the iXBRL deadline to 23 January 2018.

31 January 2018

Last date for filing third party payments return Form 46G for companies with a financial year ending on 30 April 2017.

Latest date for payment of dividends for the period ended 31 July 2016 to avoid Sections 440 and 441 TCA97 surcharges on investment, rental or professional services income arising in that period (close companies only).

Personal taxes

15 December 2017
Capital Gains Tax due in respect of any chargeable gains arising on disposals in the period 1 January 2017 to 30 November 2017 must be paid on or before 15 December 2017. 

1 January 2018

0% rate of business in kind (BIK) commences in respect of electric vehicles for 2018.

31 January 2018

CGT due in respect of any gains arising on disposals in the period 1 December to 31 December 2017 must be paid on or before 31 January 2018.
General

31 December 2017
Valuation date for 2017 domicile levy. Irish assets held on this date will be taken into account in ascertaining if the €5 million ‘Irish asset test’ has been met.

A four-year time limit generally applies to repayment claims. A claim for repayment of corporation tax for the year ended 31 December 2013 must generally be lodged with the Revenue by 31 December 2017. Claims for repayments of income tax for the year of assessment 2013 must also be submitted by 31 December 2017. 

Refund of DIRT for first time buyers (including self-builds) applies where the purchase/self-build is completed by 31 December 2017.

Relief from stamp duty and capital gains tax on transfer of property rental business of an Irish Real Estate Fund (IREF) to a Real Estate Investment Trust (REIT) expires on 31 December 2017.

2% rate of stamp duty will apply to transfers of non-residential property where binding contracts were in place before 11 October 2017 and where the instruments for the transfers are executed before 1 January 2018. 

1 January 2018
The minimum seven-year holding period required in order to avail of capital gains tax exemption on land and buildings purchased between 7 December 2011 and 31 December 2014 is reduced to four years. This applies to disposals of such assets made on or after 1 January 2018.

8 January 2018
Under mandatory reporting rules, promoters of certain transactions may be required to submit quarterly ‘client lists’ in respect of disclosed transactions made available in the relevant quarter. Any quarterly returns for the period to
31 December are due on 8 January 2018.

30 January 2017

Due date for submission of return and payment of IREF withholding tax in connection with the accounting period ended on or before 30 June 2017.

Note: the above matters do not take into account any developments in relation to Finance Bill 2017 at Select Committee Stage onwards.