Revenue has published a new Tax and Duty Manual which provides guidance on the new Vacant Homes Tax (VHT) introduced in Finance Act 2022. VHT is an annual tax that applies to residential properties in use as a dwelling for less than 30 days in a 12-month chargeable period. The first chargeable period applies from 1 November 2022 to 31 October 2023 and the return is due on or before 7 November 2023.
The manual outlines in detail when VHT applies, when properties are outside the scope of the tax, the obligations on chargeable persons, Revenue powers and certain exemptions that can be claimed.
VHT is charged at three times the base Local Property Tax (LPT) rate (the rate excluding any local adjustment factor). It is charged in addition to LPT.
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