Monthly returns

Summary

This section requires qualifying savings managers to make a monthly return to the Revenue Commissioners. The return must contain a number of financial details in respect of all the SSIAs under the management of the qualifying savings manager and must contain a declaration by the manager that these details are correct.

Details

Qualifying savings managers are required to make a return (including nil returns) to the Revenue Commissioners in respect of each month within 15 days of the end of that month.

Specifications

The return, in respect of all SSIAs managed by a savings manager in that month, must specify —

• the aggregate amount of tax credits being claimed in respect of subscriptions made to SSIAs in the month;
• the aggregate amount of tax in respect of which the savings manager became liable during the month; and
• the net amount required to be paid by or paid to the Revenue Commissioners.

Declaration

The return should also incorporate a declaration (in a form authorised by the Revenue Commissioners) by the qualifying savings manager stating that the information given in the return, to the best of his/her knowledge and belief, is correct.

Relevant Date: Finance Act 2019