531AAK Returns and payments by chargeable persons

Summary

This section sets out the obligations placed on chargeable persons in relation to returns and payments with respect to the levy.

Details

(1) A chargeable person is required to make a self-assessed return and payment of all amounts of the levy that were due to be charged in an accounting period within 23 days of the end of that accounting period.

(2) The following details are the be included on returns made by chargeable persons –

• the total of the open market value of all concrete products supplied during the accounting period
• the amount of the levy due for the accounting period,
• the sum of the open market value on the supply date of ready to pour concrete supplied by the chargeable period in respect of which a declaration was made under section 531AAJA in the accounting period, and
• the number of specified persons that made a declaration under section 531AAJA in the accounting period.

(3) A return shall be made by a chargeable person for each accounting period even if there is no levy due by that chargeable person for that accounting period.

(4) Every return shall be in a form prescribed by the Revenue Commissioners and shall include a declaration that the return is correct and complete.

(5) Every return shall be made electronically.

(6) Where an error or omission is discovered on a return, an amended return shall be made by the chargeable person.

(7) Where a chargeable person fails to file a return, they shall be liable for a maximum penalty of €4,000 for each failure.

Relevant Date: Finance Act 2024