Form 46G: When must the Form 46G be filed

Background

Revenue recently updated their manual on the Form 46G. The Form 46G is a return of certain payments (payments for services or copyright) made in the course of business which exceed €6,000 in aggregate in the period covered by the return.

Details required on Form 46G in relation to service provider

Full name
Address
Tax Reference
Payments/consideration given
Nature of consideration if not money
Nature of services/rights provided
Whether figures are VAT inclusive/exclusive

Payments not required to be returned on Form 46G

Payments aggregating to less then €6,000 in a return period
Payments from which income tax has been deducted
Payments by a principal contractor registered for Relevant Contracts Tax
Payments where goods exceeds 2/3 of the total charge
Payments to non-residents
Payments for essential services (electricity, gas and telephone)

When must the Form 46G be filed

For individuals and bodies of persons other than companies, a Form 46G is required in respect of payments up to 31 December each year or, if more convenient, up to the date of the accounts prepared for the business. The Form 46G must be returned annually before 31 October following the relevant year. For companies, a Form 46G (Company) must be returned not later than 9 months from the end of the accounting period. Form 46G/Form 46G (Company) must be filed under Self Assessment provisions. The Form 46G should be filed electronically using ROS. Consequences of Non-filing Form 46G A penalty of €3,000 can apply where no return is filed or an incorrect return is filed. Tax clearance and repayments may be withheld. It could lead to a Revenue Audit.

What questions do you have?

We are happy to help. Please post your comment below or contact Gerry Higgins, Tax Partner on 01 677 9000 or by email: ghiggins@cooneycarey.ie.

14/06/2018