Section 14A Late filing of return

Summary

This section imposes a surcharge where a stamp duty return in relation to an instrument is not filed on time (i.e. within 30 days of the date of first execution of the instrument). In practice, the Revenue Commissioners allow 44 days to elapse from the date of first execution of the instrument before a surcharge is levied.

The surcharge is based on a percentage increase of the stamp duty payable and is subject to a grading of the surcharge by reference to the length of the delay as well as being subject to an overall cap on the level of the surcharge.

Details

(1) The “specified return date” is the thirtieth day after the date of first execution of the instrument.

Failure to deliver a return

(2) The delivery of a return in the following circumstances is regarded as a failure to deliver a timely return.

• (2(a)) Where an accountable person deliberately or carelessly causes the delivery of an incorrect electronic or paper return on or before the specified return date, the person is regarded as having failed to deliver the return on or before that date unless a correct return is delivered on or before that date.
• (2(b)) Where an accountable person causes the delivery of an incorrect electronic or paper return on or before the specified return date, but does so neither deliberately or carelessly, and it comes to the person’s notice (or to his/her personal representative’s notice if he/she has died) that the return is incorrect, the person is deemed to have failed to deliver the return on or before that date unless the error in the return is remedied by the delivery of a correct return without unreasonable delay.
• (2(c)) Where an accountable person causes the delivery of an electronic or paper return on or before the specified return date but the Revenue Commissioners being dissatisfied with the return require the person by written notice to deliver a statement or evidence, the person is deemed to have failed to deliver the return on or before the specified return date unless the person delivers the statement or evidence as requested by the Commissioners within the time specified in the notice.

The surcharge

(3) Where an accountable person fails to cause the delivery of an electronic or paper return on or before the specified return date, the stamp duty chargeable is to be increased by a surcharge amount equal to -

• 5 per cent of the amount of the stamp duty, subject to a maximum of €12,695 for delays in filing of less than 2 months, and
• 10 per cent of the amount of the stamp duty, subject to a maximum of €63,485 for delays in filing of 2 months or more.

Relevant Date: Finance Act 2014