Chartered Accountants Ireland has received confirmation from the Department of Finance that the Income Tax payment date for the self-employed will not be brought forward in 2015. The Institute had insisted that there must be no further bringing forward of the payment dates for taxes.

It seems however, that earlier Budget Days are inevitable following the so-called “Two Pack” agreement under the EU Stability and Growth Pact. In Ireland's case, this means that much of the existing budgetary process, which normally is completed in the first week of December, will have to be finalised much earlier. This could well have implications for the 31 October filing date for Income Tax returns, because the information contained in those returns is used in the preparation of Budget Estimates. The accountancy profession, through its umbrella body CCAB-I, has formally raised this matter with Revenue, highlighting that the disruption and administrative burden which would follow if the filing date was to be brought forward. Clearly indigenous Irish Business is the sector which would be most affected.

The Institute position is that it would be simply impossible for indigenous Irish business to comply with earlier Self Assessed Income Tax payment and filing arrangements.