Revenue posted the following recently in relation to bank accounts used to pay taxes via ROS.
Revenue wishes to advise customers of an upcoming change to SEPA payment processing timelines in respect of bank accounts that are used to pay taxes via the Revenue Online System (ROS) and via myAccount for non-ROS customers.
Under current SEPA arrangements, which have been in operation since January 2014, it takes seven working days to debit a bank account that has not been previously used to pay taxes while it takes four working days to debit an account used on a recurring basis.
With effect from Monday 28 November 2016, the processing timeline to debit both ‘first time’ and ‘recurring’ bank accounts used via ROS and myAccount to pay taxes will be reduced to three working days.
Customers should, from Monday 28 November, ensure they have sufficient funds in their bank accounts to meet the payment amounts within the shorter processing timeline.