I am a company director; do I need to file a Tax Return?

In general, a company director is obliged to submit an income tax return each year. This is the case even if all your income is taxed through the PAYE system. 

Proprietary & non-proprietary directors:

If you are the beneficial owner of more than 15% of the shares in the company or you are able either directly or indirectly, to control more than 15% of the ordinary share capital of the company then you are what is known as a proprietary director and you will need to file an income tax return. 

If you are a non-proprietary director this would be one of the only exceptions to the rule and you may not need to file a return depending on your circumstances. 

Filing your return:

If this is your first time filing an income tax return you will need to register for Revenue’s online system ROS.

This year, the last date for 2020 income tax filing is Wednesday 17 November 2021. Interest applies on late filings even if there was no tax due in the first place, so make sure not to delay.

We can help:

At TaxAssist Accountants we have worked with thousands of company directors across Ireland on their tax returns. If you need assistance filing your income tax return you can call us on 066 401 1111 or submit an enquiry online to book your free initial consultation.

 

Date published 15 Jul 2021 | Last updated 21 Aug 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.