A Simple Guide to Irish Tax Deadlines for 2023 – Everything You Need to Know!
It’s that time of the year again where we start talking taxes, and we’re here to help make things a bit clearer. Let’s dive into the main tax dates you need to mark in your calendar for 2023.
1: PAYE (Pay As You Earn): First off, if you’re on the PAYE system (most employees are), you’re in luck! Your employer’s got your back, and they handle most of the heavy lifting. Your tax is deducted right from your wages. But remember, if you have extra earnings outside your regular job, you may need to file a return yourself.
2: Self-Assessed Income Tax:
- 31st October 2023: That’s the big date for those filing a paper tax return for 2022. Stick a post-it, set a reminder, or write it on your hand – whatever works!
- 15th November 2023: Tech-savvy folks using the Revenue’s Online Service (ROS) get a little extra breathing room. But keep an eye on the exact extended date!
3: Corporation Tax: Now, if you’re running a company, your dates might vary based on your accounting year. Generally, the return is due 9 months post your accounting period’s end. So, if your year ended in March, your taxes are due by December. Easy, right?
4: Preliminary Tax:
- 31st October 2023: If you’re a self-starter (or, self-assessed individual), this is your date to pay the Preliminary Tax for 2023.
5: CAT – The Gift That Keeps Giving (or Taking?): Received an inheritance or gift between 1st September 2022 and 31st August 2023? Mark the 31st October 2023 on your calendar. That’s your deadline for Capital Acquisitions Tax.
6: VAT (Value Added Tax): Most businesses file their VAT every two months. But, some lucky few might only need to file quarterly or twice a year. Lucky them!
7: Local Property Tax (LPT): Now, for property owners, your LPT date can change based on how you pay. Usually, it’s in Januaryfor single debit or annual debit payments. But always double-check, as dates can be sneaky and change on you!
8: Other Taxes to Keep in Mind:
- Employer’s PAYE/PRSI: This is a monthly affair for most employers.
- Relevant Contracts Tax (RCT): This one really varies, so best to check based on your transactions.
- Capital Gains Tax: This tax is applicable on the disposal of assets
Always take a minute to check with the official folks at the Revenue Commissioners’ website or your trusty Irish financial advisor (like me!) to ensure you’re on track.
Keep this guide handy, and you’ll sail smoothly through the 2023 tax season. And remember, when in doubt, always reach out!