Failing to file an income tax return for a year in which tax was overpaid

I am paid by PAYE. I am also a proprietary director of the company that pays me. My income tax and PRSI is paid monthly by salary deduction. My company is fully tax compliant.

I failed to make an income tax return for 2006. This was my fault. I knew nothing was due and I had little or nothing to claim so I didn't get round to it.

I received a 'notice of assessment' for 2006 yesterday. It states that I made an overpayment of €500 in income tax for 2006. However, because I failed to file an income tax return, I will be levied a fine of €1,000 ( I think this was calculated by taking 10% of the tax I paid that year). So now, I owe the revenue €500.

While I accept that I am in the wrong and ought to have claimed my refund on time, is there anything I can do to avoid this fine?

Re: Penalty for failing to claim a tax refund

I hope this doesn't sound pedantic but I think you need to change the thread title. The fine is for failure to file a tax return.

As a proprietary director of a company, you are obliged to file a tax return each year.

Who are your financial advisers and what do they have to say?

Re: Penalty for failing to claim a tax refund

PaulHoughton said:

I am also a proprietary director of the company that pays me.
I failed to make an income tax return for 2006.
This was my fault.
I didn't get round to it.
While I accept that I am in the wrong
is there anything I can do to avoid this fine?

Click to expand...

I think you have answered your own question very clearly.