Missed Oct 31 deadline...how do I approach revenue?

J

jrewing

Registered User
Messages
554
I have some modest Capital Gains from the first half of the year, which will probably slightly exceed the Eur 1270 CGT allowance.

For a variety of reasons, I was not in a position to file a tax return before Oct 31 and am becoming worried about the consequences. What is the best course of action ? Should I call the Revenue immediately and let them know to expect a late return from me? Or should I wait until I have some time to get my ducks in a row (i.e. sort out the details) and call them in January?

Will a penalty definitely be applied ? If so, is it a percentage of the liability (in which case it will be small) or a fixed sum per day?

Thanks
JR

PS: I know I have been stupid - no need for any reminders ;-)
 
Don't worry you haven't been stupid

Form CG1 Return for 2007 gains not due for filing until 31/10/08
Payment was due by 31/10/07.
Pay this asap, there technically might be a liability for interest - hardly likely to be an issue if the liability itself is small.
 

If it was a 2007 disposal you will not be surcharged as you have missed the payment date and not the return filing deadline. Get the payment in as soon as possible and you have until 31 October next year to file the return.

If it is in fact a 2006 disposal get the return in as soon as possible as a surcharge, 5% at present rising to 10% on 1 January 2008 will apply.
 
You must log in or register to reply here.
Menu
Log in
Register