CPA has welcomed the decision not to bring forward tax deadline for self employed

'The decision was unworkable and would have placed many self employed under financial stress.'

The Institute of Certified Public Accountants in Ireland (CPA) has welcomed the announcement that the Government will not proceed with the proposal to bring forward the tax deadline for the self employed from 31st October to 30th September. The Institute had lobbied extensively against the proposed change saying it was unworkable and would have placed an additional unnecessary burden on the self-employed.

Eamonn Siggins, chief executive of the CPA said; “There was no prior consultation and it is clear that no impact analysis was undertaken before deciding to bring forward the tax deadline for the self employed. Many self employed are struggling in the current economic environment. Delays in getting paid and a severe drop in trade have impacted on revenue streams. There is considerable concern around the ability of many self-employed taxpayers to actually pay their tax bill and bringing forward the payment date would have put many under even more financial stress.

“There was also the issue of the availability of staff in accountancy practices to process tax returns. Much of the work would have had to be undertaken during of July and August to meet the new deadline. These are the prime months for study leave and examinations and the additional work would have caused severe pressure on small and medium practices throughout the country.

“We are delighted that reason has prevailed in this regard and would ask the Department of Finance to consult with the CPA and other accountancy bodies before introducing such measures in future finance bills”.

He added; “This is but one measure that concerns CPAs within an extensive Finance Bill, where issues are not been properly debated, and we are tracking progress on amendments as the process continues”.