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Balance Sheet and Profit and Loss Account

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Updated on 2 November 2021 by Accountant

Pay and file deadline for Self-employed’s Income tax (for the year 2020) is 31st October 2021.

If you file your tax return and pay tax online (through ROS – Revenue Online System), the deadline is extended till 17th November 2021.

You need to do both steps to get extended deadline (17th November), file (your return) and pay (income tax).

What you need to do:

  1. File your Income tax return 2020,
  2. Pay Income tax balance due for 2020,
  3. Pay Preliminary tax for 2021 (the same amount as it is your income tax for 2020).

If you have any problems with ROS system, you can contact ROS Helpdesk at +353 1 738 3699, email roshelp@revenue.ie or through MyEnquiries: Submit an enquiry selecting the headings: “Other than the above” -> “Revenue Online Service (ROS) Technical Support”.

Payments and Refunds

The Revenue will no longer issue cheques refunds of Income Tax for mandatory e-filers. If you are in a tax refund position, you will need to ensure that your bank account details are recorded in ROS refund section and are up to date. Please login to ROS and on the My Services page go to Manage Bank Accounts and select Manage EFT in the Refunds section.

You can make payment of your income/preliminary tax by ROS Debit Instructions (RDIs), Laser Card, Debit Card, Credit Card or Online Banking.

If you do not have an active ROS digital certificate and an Agent is submitting a return on your behalf, you can now make an online payment for Income Tax through myAccount. You can register for myAccount on the Revenue website.

If you need assistance with making payments on ROS, you can contact the Collector General’s Division on (01) 738 3663 , email rospayments@revenue.ie or through MyEnquiries: Submit an enquiry selecting the headings: “Other than the above” -> ” Revenue Online Service (ROS) Payments”.

Extended support opening hours

The ROS Technical Helpdesk and Collector General’s Division will provide the following extended opening hour services.

Date Opening Hours

Monday, 15 November 2021

09.00 – 20.00

Tuesday, 16 November 2021

09.00 – 20.00

Wednesday, 17 November 2021

09.00 – 24.00 (ROS Technical)

09.00 – 20.00 (Collector General’s)

I recommend you to pay and file your tax return before October 2021 deadline. The more close to the deadline the heavier traffic will be in ROS system and ROS might not work as you would expect. System can be slowly or in worst can be down and you wouldn’t be able to file and pay your tax return on time.

Surcharge

If you file your Income tax return late, a surcharge will be added on to your tax due, as follows:
• if you missed the deadline of 31/10/2021 (or 17/11/2021 for ROS customers) and you file your tax return before 31st December 2021, there is extra penalty of 5% of the tax due (maximum of €12,695), for example if your final tax bill is €800, a surcharge of €40 (800 x 0.05) is added to the bill with total to pay €840.
• if you file your tax return after 31st December 2021, there is extra penalty of 10% of the tax due (maximum of €63,485), for example if your final tax bill is €800, a surcharge of €80 (800 x 0.10) is added to the bill with total to pay €880.

Revenue Guide to Completing 2019 Pay and File Tax Returns.

Source: www.Revenue.ie, Revenue eBrief No. 088/21.