Taxes Consolidation Act 1997 section 258

Returns and collection of appropriate tax

Section 258 sets out the rules governing the filing of DIRT returns by financial institutions and the timing and manner of payment of DIRT to the Collector-General, including interim payments on account.

• Financial institutions must file an annual DIRT return within 15 days of year end and pay the DIRT due by that date, with three interim payments on account required during the year by 21 April, 21 July and 21 October.
• Where interest is determinable but not yet paid, it is deemed to accrue daily and to be paid on 31 December each year for DIRT purposes, with a credit given when the interest is actually paid.
• Revenue inspectors may raise assessments where returns are missing, incorrect or unsatisfactory, and interest at 0.0274% per day applies to any late payment of DIRT.
• Financial institutions may appeal a DIRT assessment to the Appeal Commissioners within 30 days of the notice of assessment, but only after filing the required return and paying the self-assessed amount of DIRT.