960Q Recovery of amounts received by a person following the lodgement of an incorrect account, etc.

Summary

This section is predominantly aimed at PAYE individuals who make or deliver for any purpose of the Acts an incorrect account, declaration, information, particulars, return or statement, in connection with any claim for exemption or for any allowance, credit, deduction, relief or repayment. However it also accommodates collection of monies received on the basis of any incorrect account for such relief as mortgage interest relief (i.e. tax relief at source, whether or not the recipient is in the tax net).

Details

(1) All amounts received by an individual on the basis of an incorrect account, declaration etc, shall be refunded to the Revenue Commissioners.

(2) All amounts (i.e. proceeds of an incorrect account, declaration, etc.) to be refunded to the Revenue Commissioners shall be determined by a Revenue officer and the amounts contained in such a determination shall be collected and recovered as if they were an amount of tax.

(3) The determination under subsection (2) may be made at any time. (i.e. there is no time limit).

(4)(a) An individual who is aggrieved by the determination made under subsection (2) may appeal the determination by notice in writing to the Appeal Commissioners. An appeal must be made within 30 days after the date of the notice of that determination. The appeal is heard and determined by the Appeal Commissioners in the manner provided for in Part 40A of TCA 1997.

Where a determination under subsection (2) is appealed, a taxpayer may not subsequently appeal their assessment on the same grounds.

(5)(a) & (b) A Revenue officer or Inspector may raise an assessment to collect tax due arising from the proceeds of an incorrect account, declaration etc.

The assessment need only set out the amount of tax due arising from the proceeds of an incorrect account, declaration etc. No other particulars need be included in the assessment.

(6) An assessment under subsection (5) may be made at any time. (i.e. there is no time limit for the raising of an assessment).

Relevant Date: Finance Act 2021