31 October filing deadline – income tax

31 October 2012 is the deadline for filing self-assessed income tax returns for the 2011 tax year. It is also the payment date for the balance of any tax due for 2011 and preliminary tax for 2012. Self-employed individuals and anyone with income other than employment, pension or deposit income must file a return.

It is important to remember that a tax payer can file a tax return at any time after the end of the tax year while the payment deadline remains the 31 October. This can help the taxpayer budget for the payment.

Preliminary tax

Preliminary tax is a payment on account. Self assessment tax payers must make a preminary tax payment in repsect of 2012 on 31 October 2012. To avoid interest and penalties the payment must be at least 90% of the final 2011 tax liability, or 100% of the final 2011 liability.

If you started in business in 2011 you do not need to make a preliminary tax payment in 2011, but can do if you wish.

Extended filing with pay and file on line

If you file AND pay online using the Revenue online Service (ROS) you can avail of an extended deadline. It is important to note that this extension is only available where a payment is made online. If the payment is not made online a late filing penalty applies and interest accrues from 1 November.

To file online you must first register with ROS. Your tax agent or accountant can file online on your behalf.

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