# The significance of 31 October...



## Brendan Burgess (17 Oct 2006)

I will be speaking about this tomorrow on radio, so can I check my facts please. 

Applies to:
*Self-employed* 
*Directors required to make a return*
*PAYE employees with non PAYE income*
*PAYE employees who want to make pension contributions for previous year*

Must have their tax return for 2005 (for income and capital gains) submitted and any balance due paid.
Must pay their preliminary tax for 2006
Must pay their CGT on any gains up to 30 September 2006

Last date for making a pension contribution to claim against 2005 income

Can extend the deadline to 16 November if using ROS. Can make pension contributions to 16 November as well.

*If they don't make their return on time...*
Is the penalty 5% of the tax due for two months i.e. 30 November, rising to 10% after that?


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## bazermc (17 Oct 2006)

Brendan said:


> I will be speaking about this tomorrow on radio, so can I check my facts please.
> 
> Applies to:
> *Self-employed*
> ...



Sounds about right Brendan, but:
I would add
Must file gains made in 2005
And they must *pay CGT on gains made between 1/1/06 and 30/9/06* *not 30/9/05 *which will then be filed in 2007
Ros can be used to extend 16/11/06 if needed but it takes a circa 2 weeks to register and get digital cert, so dont try logging in that day without a registration number password etc...
However you must use ROS to both pay and file
Revenue have confirmed pension top up can also be made up to 16/11/06 and be used against 2005 income, but remember age restricts the amount of pension amount that qualifies, any unallowable can be carried foward and is not lost
Lastly, to ensure on time return must be date stamped on or before 31/10/06

What radio station and what time i will take a listen


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## Joe1234 (17 Oct 2006)

Brendan said:


> Can extend the deadline to 15 November if using ROS.
> 
> *If they don't make their return on time...
> *Is the penalty 5% of the tax due for one month, rising to 10% after that?



Brendan,

AFAIK the date is actually 16 November.

The 5% penalty applies to returns received up to 2 months after the original deadline, i.e. 31 October.


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## bazermc (17 Oct 2006)

Confirmed 16/11/06 see here


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## ClubMan (17 Oct 2006)

Brendan said:


> *PAYE employees with non PAYE income
> *



Tut, tut! Please read the key posts...

October 31 - what does it mean for PAYE worker?

Basically October 31st is also relevant to "regular" _PAYE _employees for whom it is the deadline for making pension contributions and offsetting them against the previous tax year's income if applicable.


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## Brendan Burgess (17 Oct 2006)

Thanks - typos corrected and some bit added in. 

The Last Word with Matt Cooper on Today FM at 18.50

Brendan


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## ClubMan (17 Oct 2006)

Brendan said:


> *PAYE employees who want to make AVCs for previous year*


I don't think that this is strictly correct. The deadline applies to any pension contributions and not just _AVCs _- e.g. regular occupational pension contributions, personal pension/_Retirement Annuity Contract (RAC) _contributions, _PRSA _contributions etc.


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## Brendan Burgess (18 Oct 2006)

_Thanks ClubMan_

updated now.

Brendan


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