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?

If, for some reason, you have failed to meet the 14 November deadline you should still aim to get your tax return finalised and filed as soon as possible for the following reasons:

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.

Revenue fully understand that people can miss deadlines from time to time and will take a number of factors into account when applying late filing fees. You must show, however, that you made a genuine attempt to rectify the error of not filing your return as soon as possible.

So, if you have missed the deadline don’t despair, act fast and this can assist in reducing additional financial burden and worry!

Read our 3 steps to take if you have missed the tax return deadline or contact us to see if we can help.

Need help filing your tax return?

Contact TaxAssist Accountants for a free, no-obligation consultation.

045 249 000

Or contact us

Date 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.

What's the difference between late filing surcharges & late payment interest?

1 month ago

3 steps to take if you missed the tax return deadline

1 month ago

Everything you need to know about filing a tax return in Ireland

2 months ago

Choose the right accounting firm for you

Running your own business can be challenging so why not let TaxAssist Accountants manage your tax, accounting, bookkeeping and payroll needs? If you are not receiving the service you deserve from your accountant, then perhaps it’s time to make the switch?