Income Tax Deadline Ireland 2024: Complete Guide
Each year, many people living and working in Ireland are required to file an income tax return with the Revenue Commissioners and pay tax on the profits they have made during the year.
We help thousands of people in a wide range of professions across Ireland to complete their income tax returns each year. That’s why we put together everything you need to know about submitting your tax return this year.
Who Needs to File a Tax Return?
What (and How Much) Do I Need to Pay?
When Do I Need to Submit My Income Tax Return?
How Do I Know If My Tax Return Is Correct?
Do I Need to File a Tax Return?
The short answer
The short answer is that generally, if you earn non-PAYE income, you must file an income tax return.
The long answer
The long answer is that there is a wide variety of ways you might earn income for which you must file a tax return including:
– Self-employment
– Rental income
– Freelancing
– RCT subcontracting
– Investments
– Foreign income (including pensions)
– Company shares or share options
– Capital Gains Tax (CGT)
– Nixers / Side Hustles
– SARP (Special Assignee Relief Programme)
– Proprietary Directors
It is important to remember that even if your main source of income is PAYE, you may still need to file an income tax return.
For example, Joe has a full-time job at a factory, for which he is paid tax via the PAYE system. Joe also teaches a yoga class every Saturday morning. Even though Joe’s main job is at the factory, he still must file a tax return and declare his non-PAYE income from the yoga classes to the Revenue Commissioners.
What (and How Much) Do I Need to Pay?
The short answer
The short answer is that you must pay the balance of tax for 2023 and preliminary tax for 2024.
The long answer
The long answer is that the amount of tax you need to pay will depend upon a number of factors including your total annual income, your tax rate band and any tax credits you can claim against this income.
Speaking generally, however, there are two payments you will have to make by the tax return deadline: preliminary tax for 2024 and the balance of tax for 2023.
Preliminary Tax is the estimated amount of tax that you will have to pay for the current tax year (2024). The amount of preliminary tax you pay must be at least equivalent to either:
– 90% of the tax due for 2024
– 100% of the tax due for 2023
The balance of tax for 2023 refers to any tax you owe that was not already paid in your preliminary tax the previous year.
If you file your tax return after the deadline, you will also have to pay a surcharge of 5% of your tax due up to €12,695 (within two months of the deadline) or 10% of your tax due up to €63,485 (after 2 months past the tax return deadline).
When Is The Income Tax Return Deadline In Ireland 2024?
The income tax return deadline in 2024 is October 31st. Taxpayers will pay their income tax for the 2023 period, as well as their prelimiaries for 2024. If you choose to file online, you can instead file on November 14th.
The pay and file extension deadline of 14th November 2024 only applies to those who use ROS to submit ALL of the following:
- Submit 2023 Form 11 online
- Pay 2023 Income tax balance online
- Pay 2024 Preliminary tax online
If only one of the above is completed via ROS, your return & payments are due by the 31st of October.
Remember, your tax return and payment must all be submitted by the tax return deadline. Failure to do so may result in a surcharge, interest and penalties.
How Do I Know If My Tax Return Is Correct?
The short answer is that you’ll need to ask a tax expert for advice to ensure you don’t underpay.
The long answer
The long answer is that if you are required to file an income tax return, you must do so through self-assessment. This can be a very stressful experience, as filing late or submitting an incorrect return can result in costly penalties. That is why we always suggest consulting a tax expert before filing your annual income tax return.
For over 20 years, the Tax Return Plus team has been helping people across Ireland to complete their tax returns. We ensure payments are up-to-date and to file tax returns correctly and on time.
Get a quick quote from our experts and let us take the stress out of your filing this year.
Income Tax Return Deadline FAQ’s:
When are taxes due for 2023?
Your income tax return for 2023 is due October 31st or on November 14th if you file online.
Can I do my own income tax return?
You can file your own income tax return, but it’s best to speak to a tax expert to help you navigate the tax system.
What is the Irish tax year?
The Irish tax year runs from January 1st to December 31st.