Key Financial Planning Deadlines Approaching

October is a key month for financial planning in Ireland. If you’re self-employed, a company director, managing investment gains, or haven’t made your maximum pension contributions for last year, there are several deadlines and opportunities coming up.

Over the coming weeks you should be working on tax returns, pension contributions and preparing for the upcoming capital gains tax (CGT) deadline.

Income Tax Returns

The pay and file deadline for the 2024 income tax return (form 11) for self- assessed individuals is 31st October. Individuals who file online via Revenue Online Service (ROS) have an extended deadline of Wednesday 19th November 2025.

Requirements include, filing your Form 11 with Revenue, paying your balance of tax owed for 2024 and paying preliminary tax for 2025.

These deadlines apply to anyone who is self-employed, a proprietary director or has other sources of income like rent or investments.

We advise you to pay and file as soon as possible, if there are any errors or missing documents, you’ll want time to fix them without risking late payment penalties.

Pension Contributions and AVCs for 2024

Pensions are one of the few remaining ways to reduce your tax bill directly.

You can still make a pension contribution for 2024 and claim tax relief at your marginal (highest) rate if you haven’t reached the maximum amount allowable already.

A contribution to a personal pension, PRSA or an additional voluntary contribution (AVC) to your occupational scheme will reduce your taxable income if you’re self employed or you can claim a tax refund back directly from Revenue if you are a PAYE employee.

An example of using an AVC to reduce tax:

You have a salary of €100,000 and make a one-off AVC of €10,000 before the deadline.

Immediate tax saving: €4,000 (40% of €10,000)

Net cost of the contribution: €6,000

The funds are now working for you in your pension instead of going to Revenue.

Capital Gains Tax (CGT) Planning

Anyone who has sold funds, shares, property or other assets at a gain in 2025 may owe capital gains tax (CGT).

• Payment for gains made between 1st January and 30th November 2025 is due by 15th December 2025.
• Payment for gains made in December 2025 is due by 31st January 2026.

CGT is charged at 33%, with a personal exemption for the first €1,270.

It’s also important to note any capital losses that may have occurred in 2025 (or in previous years). Capital losses can be carried indefinitely, and you may be able to reduce the tax due by offsetting gains with allowable losses.

Other October Financial Planning Tasks

October is also a good time to tidy up any other financial planning tasks before the end of the year, such as:

Review cash flow and year-end liquidity – plan for large payments such as preliminary tax, CGT and year-end expenses.

Consider charitable donations – approved charities can claim a refund of tax paid on donations to them if made before 31st December.

Update estate planning documents – now is a good time to review your will, enduring power of attorney and beneficiary nominations to ensure they are up to date.

Check business tax items – if you own a company, review director salaries, dividends and company pension contributions before year-end.

How Everlake Can Help

October and November are busy months so scheduling the time to look at the above is important and can help you to avoid costly errors.

We can help you by:

• Planning and optimising pension contributions and AVCs.

• Reviewing income tax and CGT strategies.

• Aligning personal and business financial planning before year-end.