Tax deadlines and workplace changes

As Q1 comes to an end, there are several key tax dates and deadlines coming up.

• 21 March 2024 – If you pay your Local Property Tax (LPT) by single annual direct debit, March 21st is the day it will be charged for 2024.
• 31 March 2024 – Joint assessment: to nominate or change an assessable spouse in 2024, you must contact Revenue by March 31st March.
• 31 March 2024 – Separate assessment: to be assessed separately from your spouse in 2024, you must contact Revenue between 1 October and 31 March.
• When requesting any changes to spouse assessment, you can generally use their myAccount service or write to them. Don’t leave it too late.
• 31 March 2024 is the share-reporting deadline in respect of 2023 “reportable events“. Employers and trustees operating share schemes are required to file an annual return.

Another notable event in March: The Irish Government has brought the right to request remote working, and also carers’ right to request flexible working arrangements, both into practice. A code of practice for employers and employers is now available online. 

Staying ahead of 2024

Irish SMEs are facing a challenging start to the year so now is the time to check if your 2024 budget is holding up, says Paul O’Donovan.

“Inflationary measures, and gas and electricity measures, may bring prices down – but they’re not coming into effect until March. With increasing overheads, businesses need to ascertain what their pricing structure is, what their capacity is, and how they will go in the next three to four months.”

“Businesses need to be doing bi-monthly, if not monthly, management accounts, to compare what they’ve budgeted with what’s actually happening. If there are issues this means they’re pinpointing it as early as possible and that that they’re getting the right advice implemented as fast as possible.”

What to read next:

• Payroll 2024 changes in Ireland 

• Retirement, succession and selling – how-to exit a business gracefully

• Irish businesses under pressure in 2024 – what’s the outlook?

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