Timeline for filing with Revenue

Revenue’s current administrative practice regarding iXBRL filing deadlines allows for the filing of Financial Statements in iXBRL format either:

• before the filing of the Form CT1;
• at the same time as the filing of the Form CT1; or
• within 3 months after the due date for filing the Form CT1

Also to be noted that Section 959A defines “specified return date for the chargeable period” as no later than the 21st day of the 9 th month or 23rd day of the 9 th month, where return is filed electronically (ROS) following the end of the accounting period.

Should a company choose to file its iXBRL Financial Statements within 3 months after the due date for filing the Form CT1, it is important to note that the Form CT1/Corporation Tax Return is deemed to be incomplete where the iXBRL Financial Statements have not been filed during this 3-month period. This can affect refunds/repayments and can lead to refusal of applications for tax clearance. Therefore, companies should ensure to file their iXBRL Financial Statements on or before the due date of the Form CT1 if they wish to ensure that they are not affected by these issues.

This 3-month administrative practice was introduced from 18 July 2016 and applies for accounting periods ending on or after 1 December 2015. It will continue to apply to subsequent accounting periods until such time as Revenue changes the practice. The practice is subject to review on an ongoing basis and may be withdrawn at Revenue’s discretion. Should Revenue decide to change this practice, an eBrief will issue in advance of the change, affording reasonable time to stakeholders to update their practices.

The de-coupling of the submission of the Financial Statements from the Form CT1/Form 11 will not delay the issue of the Corporation Tax acknowledgement letter and the CT1/Form 11 must still be submitted within the prescribed timelines. Please note that where a customer has indicated that they intend to submit Financial Statements in iXBRL format but has not yet done so, the receipt of a Corporation Tax acknowledgement letter does not constitute confirmation that filing obligations have been satisfied.

Since the Corporation Tax filing obligation has not been satisfied, no refunds/tax clearance will issue until the iXBRL Financial Statements are filed, even during the 3-month period following the due date of the Form CT1.