File your tax return before 2024 deadline

Who Needs to File a Tax Return?

Earning income outside the traditional PAYE system necessitates filing an income tax return. Whether you're generating revenue through self-employment, property rentals, or holding a job that pays beyond your regular PAYE salary, it's crucial to diligently complete and submit a self-assessment tax return each year before the set deadline. Neglecting this responsibility can lead to penalties. This page will guide you through the updated deadlines for tax returns, the potential consequences of missing these deadlines, and the essential dates you must keep in mind for this tax year.

There are a number of ways you might earn income for which you must file a tax return, including:

• Capital Gains Tax
• Self-employment
• Freelancing
• Investments
• SARP
• Propriety Directors

It is important to remember that even if your main source of income is PAYE, you may still need to file an income tax return.

When is the 2024 tax return deadline in Ireland?

For those required to file a tax return for the Irish fiscal year, which spans from January 1st to December 31st, the deadline for paper submissions is the stroke of midnight on October 31st, 2024. However, if you opt to use the Revenue’s Online Service (ROS) for your submission, you're granted an extension until mid-November.

Should you choose the convenience of ROS for your submission, remember that your income tax payment must be completed in full by the same mid-November deadline.

Here are some important dates for the 2024 tax year that you should be aware of.

The 31st of October is a critical date in the Irish tax year for individuals required to complete a self-assessment tax return. By this date, the following obligations must be met: 

• Settlement of any preliminary tax for the relevant year is mandatory.

• Submission of the self-assessment tax return for the preceding tax year is required (i.e., on 31st October 2024, the tax return for 2023 is due).

• Settling any outstanding tax from the previous year is obligatory.

What happens if you fail to file a tax return?

If you fail to file an income tax return then Revenue can penalise you as a result.

How much they penalise you is something you have some control over. Even if you feel you are not in a financial position to pay your tax obligations this year, you should still file your tax return. 

If you fail to submit your tax return on time, you could receive the following penalties:

• If you submit your return between 31st October and 31st December, you’ll pay a surcharge that’s the lesser of 5% of your tax due, up to €12,695

• If you submit your return after 31st December, you’ll pay a surcharge that’s the lesser of 10% of your tax bill, up to €63,485

How can Nathan Trust help?

Nathan Trust is a team of specialist tax advisors and qualified chartered Accountants who can take the hassle out of filing your tax return.

Our tax return filing solution includes the below:

 

As part of this service, we also provide a consultation with one of our team who can help answer any questions or concerns you might have. 

How much do we charge?

The fee to register as your tax agent, calculate and file your tax return is €495.

Extra charges for video consultation with a member of our team if required.