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RTS01 more than 30 days late

tigershould · 2014-11-05 16:10:28

Hi, i sold some Share Options in May and have only just got round to completing my RTS01 and sending in my cheque to the collector general. i'm obviously beyond the 30 day period for submission but the cash has been sat in my current account and accrued zero interest. the RTS01 form states "failure to do so will give rise…

05-11-2014 4:10pm

#1

tigershould

Registered Users, Registered Users 2 Posts: 545 ✭✭✭

Join Date: June 2010

Posts: 521

Hi, i sold some Share Options in May and have only just got round to completing my RTS01 and sending in my cheque to the collector general.

i'm obviously beyond the 30 day period for submission but the cash has been sat in my current account and accrued zero interest.

the RTS01 form states "failure to do so will give rise to interest charges."

will revenue definitely charge interest and if so is there anyway i can avoid? what rate will they charge at (its quite a large sum)

thanks in advance

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Comments

#2 05-11-2014 6:03pm

Gard1

Registered Users, Registered Users 2 Posts: 90 ✭✭

Join Date: September 2014

Posts: 86

Revenue interest is 12% per annum. They will charge interest if its worth their while
if its a large sum they will more than likely charge you for it

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