1074 Penalties for failure to give notice of liability to corporation tax

Every company which is chargeable to corporation tax for any accounting period must, where a return of profits has not been made, notify the inspector within one year of the end of that accounting period that it is so chargeable (section 883). Where a company fails to so notify the inspector, the company is liable to a penalty of €4,000 and a further penalty of €60 for each day that the failure continues after judgment has been obtained. In addition, the secretary of the company is liable to a separate penalty of €3,000.

Relevant Date: Finance Act 2021