Many people who live and work in Ireland are required to file an income tax return with the Revenue Commissioners each year and pay tax on the profits they made that year.

Every year, we assist thousands of people from a wide range of professions in completing their income tax returns across Ireland. That’s why we’ve compiled a list of everything you need to know about filing your taxes this year.

Any tax you owe in 2020 that was not already paid in your preliminary tax the previous year is referred to as the balance of tax.

You will also have to pay a surcharge of 5% of your tax due up to €12,695 (within two months of the deadline) or 10% of your tax due up to €63,485 if you file your tax return after the deadline (after 2 months past the tax return deadline).

Ensure you’re registered up for ROS.

Revenue’s Online Service (ROS) is a web-based application that allows you to view and manage your business taxes with the Irish Revenue Commissioners. Make sure you’re signed up for ROS so you can take advantage of their deadline extension, which can be extremely helpful for busy business owners.

(As a reminder, the deadline for filing a paper Form 11 is October 31st.) The deadline for paying and filing on ROS is usually in mid-November.)
When you file via ROS, the amount of tax you must pay is automatically calculated based on the information you provide (i.e. self-assessment). Because you don’t have to wait for Revenue’s response, this is more convenient than submitting a paper Form 11.

You can hire an accountant to handle your tax returns if you don’t want to do it yourself. If you don’t have a lot of receipts or transactions, you might be able to do the return yourself. To learn more about our accounting services, contact our Accountant Team. We’d be delighted to help!