1 January 2014: two important messages from Revenue
1 January is an important date in the tax calendar for two reasons. The first relates to claims for refunds of tax for the year 2009 and the second relates to the due date for 2014 Local Property Tax (LPT).
Refunds of Tax: 4 year rule
Revenue would like to remind its customers that there is a 4-year time limit for claiming tax repayments. This means that if you have a claim for the year 2009, it must be received by Revenue before 1 January 2014. If you’re a PAYE Anytime registered customer, the quickest and easiest way of doing this is to use this online service.
On PAYE Anytime you can view and update the tax credits, incomes and rate bands information on your Revenue record. You can also claim additional tax credits and expenses that you are entitled to.
Last year, Revenue refunded over €400m in respect of almost 1.1m PAYE employee reviews.
Local Property Tax
Local Property Tax (LPT) payment for 2014 is due on or before1 January 2014. If you are paying by debit/credit card, cheque or in full through one of the service providers the due date for LPT is 1 January but Revenue will treat returns made on or before 3 January as on time.
If you wish to benefit from the concession of paying by Single Debit Authority payable on 21 March, or phased payments by Direct Debit or Deduction at Source, you should file a return immediately online.
Failure to pay on time may result in the imposition of interest and penalties.
To date, 2014 LPT returns have been filed in respect of over 1m properties with approximately 89% doing so online. At the end of November, approximately €287m in LPT had been transferred to the Exchequer by Revenue.
In addition, there are just over 60,000 items of correspondence (emails, letters, voice messages) in respect of LPT that Revenue is currently responding to. Any taxpayer that has submitted a genuine query in respect of their 2014 obligations in advance of the November filing deadline will be treated as having complied with their requirements on time, once the return is filed promptly when the query is resolved.
[Ends 19/12/13]