Taxing deadlines for Revenue staff
Experts continue to warn of the potential for chaos next week as two major Inland Revenue deadlines loom for self-assessment returns and tax credits.
Link: Self assessment ‘failures’ inquiry underway
Both events have due dates on 30 September, raising a risk of major taxpayer confusion. ‘It has been a recipe for chaos even without two deadlines falling on the same day,’ said Chas Roy-Chowdhury, head of tax at ACCA.
‘There could be a situation where tax credit claimants fail to recognise that there is a deadline.’
Taxpayers still submitting paper self-assessment forms must get them to the Revenue a week today if they want the taxman to calculate the correct tax liability.
While the Revenue may still calculate taxpayers’ liability should they miss the deadline, there is no guarantee that the taxman will let them know the amount that is owed in time for the 31 January payment date.
Employees or company directors that submit their forms by 30 September will be able to spread the extra tax that they owe over the whole year, rather than paying in a lump sum on 31 January.
Payments will cease if the tax credit claimants receiving an ‘annual review pack’, posted to an undisclosed number of claimants between April and July, fail to return the completed form by the 30 September deadline.