Do I need to pay preliminary tax?

In order to fulfil your preliminary tax obligations for 2024, a payment should be made along with the filing of your 2023 tax return. Preliminary tax is an estimate of the tax you will owe on next year’s tax return. You have three options when deciding what level of preliminary tax you should pay: Based upon 100% of your 2023 tax charge. Based upon 90% of your 2024 tax charge (this will need to be an estimate at the time of filing the return). 105% of your final tax charge for the pre-preceding tax year (2022). This option is only available where preliminary tax is paid by monthly direct debit.

Questions and Answers

What’s New in the 2024 Form 11 Tax Return?

There are several important updates to the tax return form this year that you need to watch out for.

Published 29 Jul 2025

By Gearoid Condon, FCA 2 min read

Tax Returns

Each year, Revenue updates the Form 11 tax return to reflect changes in legislation, reliefs, and reporting requirements. For the 2024 tax year there are several important updates that self-employed individuals, landlords, company directors, and other taxpayers should be aware of.

Here are the key changes to look out for when filing your 2024 return:

1. Rent Tax Credit Increased

The Rent Tax Credit has been doubled for 2024:

€1,000 for single individuals
€2,000 for jointly assessed married couples or civil partners

This increase was announced in Budget 2025 and applies retrospectively to the 2024 tax year. You can claim the credit for rent paid on:

Your principal private residence
A second property used for work or study
Accommodation used by your child attending an approved course

Note: You cannot claim this credit if you receive housing supports such as HAP, Rent Supplement, or live in cost rental housing.

2. PRSA Employer Contributions

Following legislative changes, employer contributions to Personal Retirement Savings Accounts (PRSAs) are now capped at 100% of the employee’s salary.

If your employer contributes more than this, the excess is treated as a Benefit-in-Kind (BIK) and must be reported. The Form 11 now includes:

A dedicated section for PRSA contributions
Fields to declare BIK treatment
Confirmation of Revenue-approved pension schemes

This change is particularly relevant for company directors and employees in owner-managed businesses.

3. Mortgage Interest Tax Credit (Ongoing)

Introduced in 2023, the Mortgage Interest Tax Credit remains available for 2024.

To claim, you’ll need:

Mortgage balance as of 31 December 2022
Interest paid in 2022 and 2023
Confirmation that the mortgage relates to your principal private residence

The Form 11 section has been refined to make the qualifying questions clearer and easier to complete.

4. Digital Platform Income Disclosure

If you earn income through platforms like Airbnb, Etsy, Uber, or other online marketplaces, you may be subject to new EU digital reporting rules.

Revenue has added guidance and prompts in Form 11 to help you declare this income correctly. Be prepared to provide:

Gross income earned
Platform name and country
Any expenses or deductions claimed

5. ROS Filing Enhancements

Revenue Online Service (ROS) has improved its Return Preparation Facility (RPF):

Auto-calculation of tax liability
Timeout warning after 30 minutes of inactivity
Save reminders to prevent data loss

The extended deadline for filing and paying via ROS is 19 November 2025.

Final Tip

Always double-check pre-filled data, especially for rental income, pension contributions, and medical insurance. Revenue increasingly uses third-party data to populate your return — but it’s your responsibility to ensure accuracy.

Looking for an accountant to file your Tax Return?

Contact TaxAssist Accountants for a free, no-obligation consultation to get a fixed fee quote

1800 98 76 09

Or contact us

Frequently Asked Questions

If you make any money outside of your normal PAYE income from your job then you need to file a self-assessment tax return each year. The form you need to file is called a Form 11.

Some common reasons you may need to file a tax return include; you are self-employed, work freelance or as a contractor, you are a landlord or make money using Airbnb, you are the director of a company, you own shares, you have sold a personal asset or sold all or part of your business, you have inherited money, you make some extra cash doing nixers.

The form you fill in to file a self-assessment tax return in Ireland is called a Form 11. People use the terms tax return and Form 11 interchangeably.

It is definitely not too early to file your 2024 tax return! The deadline for filing your 2024 Form 11 is not until 13 November 2025. However, you can file your tax return for the previous year from January of the new year.

You are liable for tax from the day you start trading, however the way the self-assessment system works means you do not need to file your tax return and pay your tax until October of the year after you start trading.

So, if you started trading in 2025 you make your first return in October 2026.

For those that use Revenue Online Services (ROS) the pay & file deadline is Thursday 14 November 2024.

You can file a Form 11 tax return yourself with Revenue online using Revenue Online Services (ROS) or you can engage an accountant to file on your behalf.

An allowable expense is an expense that is directly related to the running of your business. For example goods that you buy for resale, employees' payment, rent and bills for your business premises, interest payments for money you borrowed to finance your business.

Tax Credits reduce the amount of tax that you pay. The tax credits you are entitled to are dependent upon your personal circumstances.

Another great way to save money on your tax bill is to pay into a pension. The government offers generous tax relief at your highest tax rate.

Here are 10 ways to save money on this year’s tax return.

You can pay the tax you owe online through ROS with a debit or credit card.

In order to fulfil your preliminary tax obligations for 2024, a payment should be made along with the filing of your 2023 tax return. Preliminary tax is an estimate of the tax you will owe on next year’s tax return.

You have three options when deciding what level of preliminary tax you should pay:

Based upon 100% of your 2023 tax charge.
Based upon 90% of your 2024 tax charge (this will need to be an estimate at the time of filing the return).
105% of your final tax charge for the pre-preceding tax year (2022). This option is only available where preliminary tax is paid by monthly direct debit.

If you miss the tax return deadline there are a number of consequences. Firstly, you will be charged interest and a late filing surcharge. Filing late can also increase the likelihood that you will be chosen to be audited by Revenue. You could lose your entitlement to government grants and subsidies as businesses must be entitled to a tax clearance certificate to qualify for these schemes. If you have missed the deadline the most important thing is to get the return filed as soon as possible.

Published 29 Jul 2025

This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

Gearoid Condon, FCA

Gearoid is a highly experienced Chartered Accountant with 25 years of expertise in business consultancy, specialising in supporting SME business owners. Gearoid has worked with start-ups and with established businesses to improve the way they run, with particular focus on growth, efficiency, and structuring operations. Through his experience Gearoid has a strong understanding of the tax system and business regulations in Ireland.

More by this author

What is a Form 12?

6 days ago

Self-Employed? 8 questions to determine if you are self-employed or an employee

2 weeks ago

Everything you need to know about filing a tax return in Ireland

4 weeks ago

Choose the right accounting firm for you

Running your own business can be challenging so why not let TaxAssist Accountants manage your tax, accounting, bookkeeping and payroll needs? If you are not receiving the service you deserve from your accountant, then perhaps it’s time to make the switch?