It has become more important than ever to ensure that personal Income Tax returns and Corporation Tax returns are completed and filed correctly with Irish Revenue. There can be changes to the information included and disclosures required in Tax returns year on year which taxpayers need to be mindful of when reviewing their compliance obligations.  

Income Tax Returns

In general, individuals are required to file an Irish Income Tax return where they are either (i) in receipt of non-PAYE income (e.g. rental income, investment income, self-employed income) or (ii) profit from share options or share incentives. In some cases, an individual may be required to file an Income Tax return for a year in which they are claiming a specific tax relief.  

Our specialists can advise you on whether you are required to file an Irish Income Tax Return and assist you with the preparation and submission of complex returns.

As part of our tax compliance offering, we assist clients meet their tax filing obligations in other tax jurisdictions. This is particularly relevant where individuals temporarily move to Ireland for work and need to file Income tax returns in multiple jurisdictions. For further information on any Irish tax relief that may be available to individuals in this scenario, please see Global Mobility.

Corporation Tax Returns

Irish resident companies, as well as Irish branches of companies resident in other jurisdictions, are required to file annual Corporation Tax returns and make one (if not two) preliminary Corporation Tax payments to Irish Revenue during the year. Filing and payment dates differ for each company depending on their accounting year end dates.

Most Irish companies are “close companies” for Irish Corporation Tax purposes. Close companies are required to adhere to special rules under Irish tax law which may impose an additional surcharge on rental and investment income of 20% unless a dividend is paid to the company shareholders.

Our Corporate Tax team are experienced in dealing with close company surcharge legislation and can advise you on how a potential close company surcharge can be mitigated in certain circumstances.

The preparation and submission of a tax return should not be done in isolation. We make use of the tax compliance process to identify tax planning opportunities for clients to reduce future tax liabilities.

If you need advice in relation to you or your company’s tax filing and payment obligations, please contact a member of our team.