Minister Micheal Noonan announced yesterday that the pay and file deadline will not change in 2014. The deadline for the filing of self assessed income tax returns, capital gains tax and capital acquisitions tax currently falls in late October. However, it was recently suggested that the deadline would be brought forward next year in order to account for the change in the announcement date of the Budget, which was moved from December to October. The Government were in favour of this move as it would allow them to have a clearer picture of the tax take for the year come budget day. Despite this, plans to change the deadline are not off the cards entirely. Minister Noonan stated that the intentions of the government remain the same and that the change will most likely come into effect in 2015. Many stakeholders were disappointed by the announcement, with Ian Talbot, Chief Executive of Chambers Ireland saying that delaying the deadline change does ‘nothing to solve the very real problem that businesses will have trying to computer and pay taxes several months in advance’, saying the plan is ‘utterly unfeasible’ and calling for it to be shelved. The finer details of the plan are yet to be ironed out, but so far it seems there are three options on the table:
- The deadline will be moved to June
- The deadline will be moved to September
- The deadline will be moved to September but taxpayers in receipt of State payments will be allowed to mandate the payment to Revenue.
No matter what happens, taxback.com will keep you updated on all developments and be here to help you file when the deadline rolls around next year.