The Finance Act 2012 introduced full self-assessment for chargeable persons, via part 41A of the Taxes Consolidation Act 1997.

For the years 2012 and prior, the old rules as set out in Parts 39 and 41 of the Act apply in relation to raising assessments, amending assessments, appeals, expressions of doubt, etc.

The new Part 41A applies for:

• Corporation Tax where the accounting period commences on or after 1 January 2013,
• Income Tax for the year 2013, and
• Capital Gains Tax for the year 2013.

This new part requires the customer, or their agent, to self-assess when making a tax return, and allows for a penalty where no self-assessment is made.

Further information is available under:

Tax Briefing Issue No. 03 of 2014 – Full Self Assessment – located at: Tax Practitioners – Tax Briefing – 2014 – Issue No. 03 of 2014.

Information Video on Full Self Assessment