The main accountancy bodies have welcomed the decision by the Minister for Finance, Mr Charlie McCreevy, to revise his proposal to introduce a June 30th deadline for the self-employed to file their tax returns.

The Minister also agreed to put back the date for payment of preliminary tax from September 30th to October 31st when the tax system moves to a calendar year with effect from 2002.

Following a meeting between representatives of the accountancy bodies yesterday, Mr David Simpson, president of the Institute of Chartered Accountants, said the Minister acknowledged the practical problems which a June 30th deadline would pose. If implemented, the Minister's original proposal would have given the self-employed and their tax practitioners four months less in which to file tax returns.

Ms Bernadette McGrory-Farrell, president of the Institute of Certified Public Accountants, said the move to a calendar year with effect from 2002 - together with the transition arrangements next year - represented a major task for the Revenue Commissioners and tax practitioners.

The legislation to give effect to the new system will be contained in the Finance Bill 2001.