What will happen now if I have not paid the Local Property Tax (LPT)?
By Caroline Browne, Partner
Local Property Tax (LPT) is an annual self-assessed tax charged on the current market value of all residential properties in the State from 1 July 2013. The LPT is to be paid by the 7 May 2013 if submitting a paper return or by 28 May 2013 if submitting your return on-line. A half-year charge applies in 2013 and a full year charge will apply in 2014.
While the deadline for filing your Local Property Tax (LPT) return has passed, you can still file your LPT Return. But you will need to act quickly to avoid the LPT being deduction at source from your wages/ occupational pension.
What will happen if I have not filed my LPT return?
The Revenue Commissioners in July 2013 will start writing to property owners who have not made a LPT return. The Revenue Commissioners will pursue collection of the Revenue Estimate of LPT. You will have been notified in the initial letter that you received what the estimate LPT for your property is, this is the Revenues Estimate of LPT. If you are unable to locate your initial letter, you will be able to obtain this information on line at www.revenue.ie.
If a property owner does not file his/her LPT return, the Revenue Commissioners will instruct his/her employer/occupational pension provider to deduct the Revenue Estimate of LPT.
Self-employed property owners or companies who have not filed their LPT Return will not qualify for a Tax Clearance Certificate and the Revenue Commissioners have said that they may be liable for a late filing Income Tax/Corporation Tax surcharge.
If you are not a property owner and receive a reminder letter from the Revenue Commissioners in July, it is most important that you contact the LPT helpline on 1890 200 255. If you do not the Revenue Commissioners will follow the step above and instruct your employer/occupational pension provider to deduct the Revenue Estimate of LPT.
For further information on Local Property Tax (LPT) click below.
