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Revenue’s progress on implementing LPT welcomed by Minister for Finance

Provisional local property tax (LPT) statistics issued by Revenue on 25 November show that returns and payments are filed and fully up to date for 1,357,800 properties, with return compliance at 79 percent and payment compliance at 89 percent. Revenue had open queries on hand for 36,500 properties, which are considered to be compliant and included in the statistics for returned LPT. Property owners with outstanding Revenue correspondence on their LPT obligations are being reassured by Revenue that they will be treated as having complied with their obligations on time, provided they file their return promptly following their query being resolved.

The Minister for Finance welcomed the progress achieved by Revenue in implementing the revaluation of residential properties for LPT purposes. An LPT yield of €428 million has been secured for 2022, to date. The yield for 2020 was €480 million.

In a press release Minister for Finance, Paschal Donohoe T.D., said:

“I want to acknowledge the professionalism and commitment Revenue staff have shown in implementing this significant change involving around 2 million homes. It is great to see such a positive response from taxpayers in relation to their LPT obligations. I would urge property owners who have not yet filed their LPT return to do so now.”

Property owners who have not yet submitted their LPT returns are said to fall within the two categories below:

  1. Property owners with recurring payment arrangements in place. Annual or Monthly Direct Debit, deduction at source (from salary, wages, occupational pension, Department of Social Protection payment or Department of Agriculture, Food and the Marine payment). While these recurring payment methods will continue to apply for 2022, property owners have not met their legal obligation until they submit their LPT return.
  2. Property owners with no recurring payment arrangement in place. These property owners have not met their LPT obligations for 2022 and are required to submit their LPT return now and pay or make arrangements to pay their LPT liability for 2022 as soon as possible but no later than 12 January 2022.