Tax

Tax deadlines - December 2018

Dec 03, 2018
Helen Byrne, Senior Tax Manager at EY Ireland, outlines the relevant compliance dates for December 2018 and January 2019.

RELEVANT COMPANY DATES

14 December 2018 
Dividend withholding tax return filing and payment date (for distributions made in November 2018).

21 December 2018 
Due date for payment of preliminary tax for companies with a financial year ended 31 January 2019. If this is paid using ROS, this date is extended to

23 December 2018.
Due date for payment of initial instalments of preliminary tax for companies (not “small” companies) with a financial year ended 30 June 2019. If this is paid using ROS, this date is extended to 23 December 2018.

23 December 2018
Last date for filing corporation tax return Form CT1 for companies with a financial year ending on 31 March 2018 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 2018 may need to be repaid by 23 December 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 December 2017 year ends, this should extend the iXBRL deadline to 23 December 2018.

31 December 2018
Last date for filing third-party payments return Form 46G for companies with a financial year ending on 31 March 2018.

Latest date for payment of dividends for the period ended 30 June 2017 to avoid Sections 440 and 441 TCA97 surcharges on investment, rental and 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 (e.g. patent royalties and certain interest). Companies with 31 December year ends may wish to review their positions to maximise/ 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 2016 may need to be considered prior to 31 December 2018. 

Research and development (R&D) tax credits in respect of R&D expenditure incurred in an accounting period ended 31 December 2017 must be claimed by 31 December 2018. A similar deadline applies to capital allowance claims for intangible assets. 

Country by Country Reporting Notifications relating to the fiscal year ended 31 December 2018 must be made to Revenue no later than 31 December 2018, via ROS (where necessary).

1 January 2019
Controlled foreign company (CFC) rules in effect from this date.

14 January 2019 
Dividend withholding tax return filing and payment date (for distributions made in December 2018).

21 January 2019
Due date for payment of preliminary tax for companies with a financial year ended 28 February 2019. If this is paid using ROS, this date is extended to

23 January 2019
Due date for payment of initial instalments of preliminary tax for companies (not “small” companies) with a financial year ended 31 July 2019. If this is paid using ROS, this date is extended to 23 January 2019.

23 January 2019
Last date for filing corporation tax return Form CT1 for companies with a financial year ending on 30 April 2018 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 2018 may need to be repaid by 23 January 2019 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 2018 year end, this should extend the iXBRL deadline to 23 January 2019.

31 January 2019
Last date for filing third-party payments return Form 46G for companies with a financial year ending on 30 April 2018.

Latest date for payment of dividends for the period ended 31 July 2017 to avoid sections 440 and 441 TCA97 surcharges on investment, rental and professional services income arising in that period (close companies only).

Country by Country Reporting Notifications relating to the fiscal year ended 31 January 2019 must be made to Revenue no later than 31 January 2019, via ROS (where necessary).

PERSONAL TAXES

15 December 2018 
Capital gains tax due in respect of any chargeable gains arising on disposals in the period 1 January 2018 to 30 November 2018 must be paid on or before 15 December 2018. 

31 January 2019  
Capital gains tax due in respect of any gains arising on any disposals in the period 1 December to 31 December 2018 must be paid on or before 31 January 2019.

GENERAL

31 December 2018 
Valuation date for 2018 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 2014 must generally be lodged with Revenue by 31 December 2018. Claims for repayments of income tax for the year of assessment 2014 must also be submitted by 31 December 2018. 

Termination of Home Renovation Incentive Scheme, with the exception of cases where planning permission is in place by 31 December 2018 and work is carried out by 31 March 2019.

Expiration of young trained farmers stamp duty relief.

1 January 2019
Removal of five-year exemption from IREF withholding tax for disposals occurring or unrealised profits or gains recognised in the income statement on or after 1 January 2019.

Employers will be required to report employee remuneration and PAYE to Revenue on a real-time basis.

8 January 2019       
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.

Due date for submission of return and payment of IREF withholding tax in connection with the accounting period ended on or before 30 June 2018.

Note: The above does not take account of Budget 2019 and Finance Bill 2018.