Why has my preliminary tax not been deducted from my bank account?
- Thread starter Drakon
- Start date
I've had a look over my recent current account statements:
19/10/2010
25/10/2011
16/11/2012
28/11/2013
Note, with 2013 there was a complication. Initially it appeared as though I was due a refund but on revision I was found to owe a small amount, less than €200.
19/10/2010
25/10/2011
16/11/2012
28/11/2013
Note, with 2013 there was a complication. Initially it appeared as though I was due a refund but on revision I was found to owe a small amount, less than €200.
Brendan Burgess
Founder
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Mine was taken out of my bank account yesterday.
Just looking at the form I completed, I had put down a payment date of 10 November. So I suppose that they took it out the first working day after the deadline.
Brendan
Just looking at the form I completed, I had put down a payment date of 10 November. So I suppose that they took it out the first working day after the deadline.
Brendan
I found the following note on the Chartered Accountants Ireland website dated 27 January 2014
"Members are advised that ROS direct debit payments to Revenue are taking up to 7 working days to clear. We have confirmed with the Collector General’s office that under the SEPA arrangements, ROS direct debit payments made for the first time under these arrangements are taking up to 7 working days to be debited from a taxpayer’s bank account. Therefore this means that while a ROS direct debit payment may have been made on or before the relevant due date and payment confirmation has been received from Revenue, the monies are not taken from the relevant bank account until a week later. Under the SEPA arrangements, subsequent ROS direct debit payments are expected to take up to 4 working days to clear."
"Members are advised that ROS direct debit payments to Revenue are taking up to 7 working days to clear. We have confirmed with the Collector General’s office that under the SEPA arrangements, ROS direct debit payments made for the first time under these arrangements are taking up to 7 working days to be debited from a taxpayer’s bank account. Therefore this means that while a ROS direct debit payment may have been made on or before the relevant due date and payment confirmation has been received from Revenue, the monies are not taken from the relevant bank account until a week later. Under the SEPA arrangements, subsequent ROS direct debit payments are expected to take up to 4 working days to clear."
To Drakon's point, I would have thought that this delay in debiting accounts is giving rise to a material loss to tax payers and/or the State in terms of foregone interest payments. There are also security issues with having relatively large sums sitting in current accounts for a protracted period.