Taxes Consolidation Act 1997 section 739F

Returns and collection of appropriate tax

Section 739F sets out how exit tax must be accounted for and paid by investment undertakings.

• Two returns per year: the first covering January to June (due by 30 July), the second covering July to December (due by 30 January)
• Exit tax is self-assessed and payable when the return is due; a nil return must be filed if no tax arises
• An inspector may assess tax where returns are incorrect or incomplete, and interest accrues on late payments
• Standard income tax collection and appeal procedures apply to exit tax