877 Returns by persons chargeable

Summary

This section requires a person, if requested to do so by an inspector, to submit, within a specified time limit and in relation to a specified period, a statement of that person’s profits or gains chargeable to income tax.

Chapter 3 of Part 41A should be consulted as regards the making of a return for Self Assessment purposes.

Details

(1) On request by an inspector, any person chargeable to income tax must submit, within the time limit and for the period specified in the inspector’s notification, a signed statement containing the amount of that person’s profits and gains from all sources chargeable to tax according to the respective Schedules.

(3) The statement must contain a declaration that —

• the amounts contained in the statement are correct as estimated,
• only legitimate tax deductions have been claimed, and
• all sources of income have been properly described.

(4) The statement must not include interest or other annual payments which are chargeable to tax in the hands of another person.

(5)(a) A person requested to file a statement of income chargeable under Schedule D or E must do so in the format requested by the inspector irrespective of whether or not that person is chargeable to income tax under those Schedules.

(5)(b) Where a person fails to submit the statement of income chargeable under Schedule D or E as so requested, the normal penalties (see Part 47) for failure to make certain returns, etc are supplanted in favour of a maximum penalty of €5 if that person proves that their income is not chargeable to income tax under Schedule D or E.

Relevant Date: Finance Act 2021