Repayments, Interest & Time Limits

Correction

Tax Briefing issue 56, July 2004, contains an article on Repayments, Interest and Time. On page eight, there is an error in the second paragraph under the heading ‘Preservation of old time limits’. In the sentence “In practical terms the taxpayer can claim a repayment of preliminary tax overpaid back as far as 1992/93 provided he/she claims before 31.12.2004” the year should have read 1994/95.

The correct text for this paragraph is therefore as follows:

This means that a taxpayer can claim a repayment before 31.12. 2004 under Section 953 TCA, 1997 for any year of assessment the end of which is within 10 years of the date of claim. In practical terms the taxpayer can claim a repayment of preliminary tax overpaid back as far as 1994/95 provided he/she claims before 31.12.2004.

Revenue wishes to apologise for any confusion caused.