Revenue Note for Guidance

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Revenue Note for Guidance

Part 39

ASSESSMENTS

CHAPTER 1

Income tax and corporation tax

Overview

This Chapter provides for the making of income tax and corporation tax assessments, including additional assessments (sections 918, 919, 922, 924 and 925), the granting of allowances and reliefs (section 920) and the aggregation of assessments (section 921). It also sets out the functions of certain assessors (section 923), provides for the estimation of income in assessments assessed on a current year basis (section 926) and the recovery of any excessive set-off or payment of tax credit (section 927). Finally, it provides for the transmission of particulars of sums to be collected to the Collector-General (section 928).

In the case of persons within the Self Assessment system the provisions of Part 41, in particular sections 954, 955 and 956, should be consulted so as to obtain a full picture of the provisions relating to assessments.

NB: Section 129 of the Finance Act 2012 has deleted Part 39 (and Part 41) as respects the tax year 2013 (and subsequent years) and accounting periods of companies that start on or after 1 January 2013. For those years and periods, the provisions of Part 41A (as inserted by the Finance Act 2012) apply.

918 Making of assessments under Schedules C, D, E and F

Summary

In general, assessments in respect of trading/professional income, investment/ property income (Schedule D), employment income (Schedule E) and dividend income (Schedule F) are made by inspectors or other officers appointed by the Revenue Commissioners in that behalf.

Details

(1) Assessments under Schedules D, E and F are made by inspectors or other officers appointed by the Revenue Commissioners, except in the case of —

  • foreign income dividends (Chapter 2 of Part 4),
  • income assessed by the Governor and directors of the Bank of Ireland (section 853), and
  • income of certain public offices assessed by an officer or person appointed by the Revenue Commissioners with the approval of the Minister for Finance (section 854).

(2) An inspector must send a notice of assessment to the assessed person detailing the amount of the assessment and the time limit for making an appeal.

(3) Anything required to be done by the Revenue Commissioners in making an assessment under Schedule C or D may be delegated to other officers of the Revenue Commissioners.

(4) Where a person has 2 or more sources of Case IV Schedule D income chargeable under section 98 (treatment of premiums, etc as rent), section 99 (charge on assignment of lease at undervalue) or section 100 (charge on sale of land with right to reconveyance), the income may be assessed in one assessment.

Relevant Date: Finance Act 2021