Revenue Note for Guidance
Part 41A provides for the modernisation of the assessing rules for direct taxes (i.e. income tax, corporation tax and capital gains tax) with effect from 1 January 2013. The Part contains a common integrated set of rules for those taxes, in place of older assessing rules in Part 39 and the Pay & File rules in Part 41.
The new rules simplify and streamline the previous rules in relation to assessments and related matters, particularly those relating to due dates for the payment of tax. The new rules also provide for a move, from 2013, to a system of full self assessment for direct taxes whereby tax returns are required to include a self assessment of the tax payable for a year or accounting period.
The first returns (including self-assessments) under the new arrangements are, in general, to be made by companies in September 2014 and by individuals in October 2014. Individuals who file paper tax returns have the option to submit a tax return for a year by 31 August of the following year if they require Revenue to do a self-assessment on their behalf.
This section contains definitions for the purposes of Part 41A. The section contains similar definitions to those currently contained in section 950 for the purposes of Part 41. Included in the section are definitions of:
The “Acts” to which Part 41A applies, being the Income Tax Acts, the Corporate Tax Acts, the Capital Gains Tax Acts, Part 18C and Part 18D.
“Assessment” is an assessment to tax, including a self-assessment, made under the Acts, as defined, except in section 959G.
“Chargeable period” is a company’s accounting period or the tax year.
“Chargeable persons”, being persons within the self-assessment system, are defined as persons who are chargeable to tax in a chargeable period, subject to section 959B.
“Specified return date for the chargeable period” in relation to a tax year means the 31 October in the next tax year, and in relation to the accounting period of a company means the day 9 months after the year end (but the 21st of the month if it would be later).
“Self assessment” is an assessment to tax made by or on behalf of a chargeable person. The items that are included in a self assessment e.g. “amount of tax chargeable”, “amount of tax payable” etc. are also defined in this section.
“Tax” for the purposes of this Part other than section 959G means any income tax, corporation tax, capital gains tax or any other levy or charge which the Acts place under the care and management of Revenue (e.g. the USC).
Relevant Date: Finance Act 2021