2008 Calendar - October

Pension Services

Having the right pension plan for your retirement is important. For both personal and company pension plans, we can help make sure your pension scheme is properly structured, managed and maintained. To find out how we can help you, please contact Alan Bigley on (01) 792 6403 or Munro O’Dwyer on (01) 792 8708.

Pictured (l-r): Alan Bigley, Brendan Bartley and Munro O’Dwyer

Important financial dates

Date
14	IT	Payment of PAYE/PRSI deductions for September.
	DWT	Due date for payment and filing of returns of withholding tax on dividends paid by companies in September.
	VAT	Filing of Intrastat return for September.
21	CT	Company year-end 30 November 2008: Preliminary tax due, minimum 90% of total liability for the year. Company year-end 31 January 2008: Payment of balance of corporation tax and filing of corporation tax return.
28	CS	Filing of Annual Returns dated 30 September 2008.
30	SD	Filing of Insurance Premium Tax return and payment of duty for quarter ended 30 September 2008.
31	CT	Company year-end 30 April 2007: Close companies with undistributed profits may have to make a distribution by this date to avoid surcharge. Company year-end 31 January 2008: Filing of “Return of third party information” (Form 46G).
	CS	Company year-end 31 January 2008: Final date for holding Annual General Meeting and latest possible Annual Return date for 2008.
	CGT	Filing of return of capital gains tax for 2007 tax year. Payment of capital gains tax on disposals from 1 January 2008 to 30 September 2008.
	IT	Filing of 2007 income tax return. Payment of preliminary income tax for 2008. Payment of balance of income tax for 2007.
	Pens	Latest date for payment of Retirement Annuity premiums, Additional Voluntary Contributions, PRSA premiums and personal contributions to Occupational Pension Schemes for tax year 2007. You must also elect to have these treated as paid in the tax year 2007 (possible extension for taxpayers who pay and fi le electronically using ROS).
	VAT	Filing of VIES return for calendar quarter ending September.
Abbreviations: CAT - Capital Acquisitions Tax, CGT - Capital Gains Tax, CS - Company Secretarial, CT - Corporation Tax, DWT - Dividend Withholding Tax, IT - Income Tax and PAYE/PRSI, Pens - Pensions, SD - Stamp Duty, VAT - Value Added Tax *As this date falls on a weekend, it is advisable to take action on the immediately preceding working day.

Planning considerations
- Consider funding for gift and inheritance tax using tax effi cient insurance policies.
- A company paying ‘special’ contributions to its pension scheme may be entitled to full tax relief in the year of payment if the ‘special’ contribution does not exceed its ‘ordinary annual’ contribution rate.
- If you have assets, such as shares in an unquoted company, which have become of negligible value, you can make a claim by 31 December to crystallise the losses for offset against a gain made in 2008.
- Individuals with money in Approved Retirement Funds (ARFs) will be liable to tax on an imputed distribution from their fund each December. It may be advisable to withdraw funds from the ARF to avoid the deemed distribution rules.

Of further interest

Pension Solutions Group

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