Capital Acquisitions Tax – ROS Form IT38

In June 2010 Revenue launched a new version of the Capital Acquisition Tax (CAT) Form IT38 on ROS.

This Form has now been enhanced further, particularly in relation to Favourite Niece/Nephew Relief and in relation to Capital Gains Tax.

Users of the ROS Offline Application should note that a new version of the IT38 Form is today available to download. To ensure that you have the most up to date version of this form installed, you should:

Open the ROS Offline Application

Select “Download”

Select “Refresh”

Scroll to the “Form IT38”

Select the “Upgrade” button (the “Upgrade” button will not be available/visible if you have already downloaded the latest version of the Form IT38).

When you have successfully downloaded the new version of the return you can continue preparing Forms IT38 for your clients.

If you have prepared Forms IT38 for your clients, using an earlier version of the form, that have not yet been filed, you should open them in ROS Offline, review the content and save them again before uploading them on ROS. This will ensure that the most up to date version of the return is used.

Practitioners may have noticed, on the “Print” option of the ROS Offline Application, that the current benefit is displayed as though it has been rounded down to the nearest thousand. This incorrect display of the current benefit is not affecting the correct calculation of the tax due and will be corrected in a further upgrade of the Return scheduled for September.

The September upgrade will also make some minor calculation changes where credit in respect of CGT arises.

Pay & File – Revenue On-Line Service – Extension of filing date in 2010

Today, Revenue announced an extension to the return filing and tax payment date for self-assessment customers using the Revenue On-Line Service (ROS). For customers who file the 2009 Form 11 return and make the appropriate payment through ROS for: * Preliminary Tax for 2010, * Income Tax balance due for 2009, the due date is extended to Tuesday, 16th November 2010. To qualify for the extension, customers must both pay and file through ROS. Where only one of these actions is completed through ROS, the extension does not apply. Customers who pay or file by means other than ROS are required to submit both payment and return on or before 31st October 2010.

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Galway Accountant – Upgrade of ROS P35

Upgrade of ROS P35

The P35 Annual Return filed by Employers has been redesigned on both the ROS Online and Offline applications, to enhance the appearance of this form and make it more user friendly.

The revised form design is consistent for both ROS Online and Offline applications.

These changes will apply to P35 screens for the 2010 period onwards. For periods prior to 2010, the P35 Screens will not change.

The functionality that enables users to edit or add P35Ls, and print and generate P60s, is available on the new P35 Offline Screens.

Customers are reminded that they will need to upgrade their Offline P35 for 2010 and future years. This can be done from the ‘Downloads’ menu.

The P35L Report in ROS Inbox has been updated to include the Income levy.

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