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Only days left to register for Local Property Tax (LPT) in Republic of Ireland

Sat, May, 2013

All owners of residential property in the Republic of Ireland are liable to the LPT.

The LPT is a self assessment tax based on the value of residential property as at 1 May 2013.

Revenue claim to have served a Notice of Estimate on most of those liable to pay the Tax. It remains the responsibility for the Taxpayer to file the LPT Return whether or not a Notice has been received.

The LPT itself is a graduated tax that is based on an estimated value of the property. Revenue has published valuation bands that determine the amount of the LPT. It is a matter for the taxpayer to assess which valuation band is appropriate.

The deadline for paper Returns has now passed. Online Returns can be made without penalty until 28 May 2013.

There are a range of payment methods available including phased payments.

Failure to pay the LPT can lead to the imposition of interest and penalties and unpaid LPT will have to be paid before a property is sold or transferred.

It is not all bad news though as the Household Charge has been abolished from 1 January 2013 and the Non Principal Private Residence (NPPR) Charge is to be abolished in 2014

Detailed information is available on http://www.revenue.ie/en/tax/lpt/index.html. You can also contact us at kevin@murnaghanfee.com for any queries that you may have.