AITI Chartered Tax Adviser
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Self assessment

Preliminary tax

A company with a tax charge below €200,000 may pay preliminary tax based on its previous year’s liability (s 959AR).

Otherwise the company must pay in two instalments:

  • The first on the 21st of the sixth month of the accounting period.
  • The second on the 21st of the eleventh month of the period.

For electronic payments, the 21st becomes the 23rd.

The preliminary tax payment must equal 90% of the ultimate liability. Any remaining balance must be paid on or before the return filing date (s 959AS).

Filing of return

A company must file a corporation tax return on or before the return filing date, i.e., the last day of the ninth month after the end of the accounting period (s 959I).

Close company surcharge

A surcharge of:

  • 20% applies where a closely held company does not distribute investment or rental income to its shareholders within 18 months of the end of the accounting period (s 440).
  • 7.5% applies where a closely held professional service company does not distribute its income to its shareholders within 18 months of the end of the accounting period (s 441).