Questions and Answers
What are the consequences of filing my income tax return late?
I still haven’t filed my 2023 return. Are there any consequences for filing late?
- Interest at a rate of 0.0219% per day is applied for each day that the return remains outstanding.
- There is a 5% late filing surcharge (subject to a maximum amount of €12,695) calculated based on your 2023 income tax liability, if you file within two months of the 31 October 2024 deadline. This then doubles to 10% (subject to a maximum amount of €63,585) if you do not file within 2 months of the deadline i.e. by 31 December 2024
- Having tax returns outstanding with Revenue can increase the likelihood that you will be chosen to be audited which everyone wants to avoid!
- You could lose your entitlement to government grants and subsidies. Businesses must be entitled to a tax clearance certificate to qualify for these schemes, so all returns need to be made and liabilities met.
Need help filing your tax return?
Contact TaxAssist Accountants for a free, no-obligation consultation.
Or contact usDate published 13 Nov 2019 | Last updated 27 Nov 2024
This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.
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