2022 LPT returns will not trigger surcharge on 2020 income tax returns

On foot of representations by Chartered Accountants Ireland, under the auspices of the CCAB-I, Revenue issued eBrief No. 210/21 which states that outstanding LPT returns or payments for 2022 will not trigger a surcharge for the 2020 income tax return. An ‘LPT surcharge’ is triggered when the Form 11 tax return is filed if an LPT return, or payment is outstanding. For the 2020 Form 11 return, any outstanding LPT returns or payments for 2021 or earlier years, will result in an LPT surcharge being triggered.

Chartered Accountants, under the auspices of the CCAB-I, has made representations to Revenue on the administrative challenges facing accountants getting access to client LPT records. As reported in Tax News, Revenue says that a signed agent link with details of the property must be submitted to the LPT branch for the accountant to access to a client’s LPT records.