charges for late returns to Revenue

[olivia]

We have recently made return to the RC's for 2002 and 2003 and the outcome is that there is refund owing to us but because it was a late return they are charging us a penalty and we end up owing them money. They have waived some but not all of this. I know we were late but it seems a bit unfair they charging us interest in money they owed us. Any one any comment on this ?

 

[Slash]

yes, it seems unfair, but Revenue are entitled to charge penalty for late filing of returns. Happened to me last year, notwithstanding there was no tax to pay because most was on PAYE anyway. Revenue are very good at going after soft targets.

 

[ClubMan]

Can't see how people might consider penalties and/or interest for late filings/returns unfair. Maybe somebody can clarify?

 

[stuart]

If you are not a director then you should not have to pay interest or penalties on tax already deducted under PAYE

Only on tax on other income

stuart@buyingtolet.ie

 

[Slash]

Can't see how people might consider penalties and/or interest for late filings/returns unfair. Maybe somebody can clarify?

you are right: the law is the law; if you're late, you have to pay the penalty. Perhaps the word "unfair" was a bad choice.

 

[ubiquitous]

You should have a strong case to have the surcharge waived once you were in an overall refund position. This applies even if you were a company director.

The question of interest on late payments is irrelevant in this case as there was a tax overpayment situation before the surcharge was applied.

One of the benefits of hiring a professional advisor to prepare tax returns is the additional assistance available in cases of disputes over surcharges etc.