Revenue Note for Guidance

The content shown on this page is a Note for Guidance produced by the Irish Revenue Commissioners. To view the section of legislation to which the Note for Guidance applies, click the link below:

Revenue Note for Guidance

Section 159C Time limits for making enquiries etc. and assessments by the Commissioners

Summary

This section restricts the period within which the Revenue Commissioners may make enquiries or raise assessments in relation to underpayments of stamp duty to a period of 4 years from the date the instrument was stamped by the Revenue Commissioners, the date the statement of liability (e.g. in the case of levies and companies capital duty) was delivered to the Revenue Commissioners or the date the instruction of the type referred to in section 76 (CREST provisions) was made. This restriction does not apply where the underpayment arises from fraud or neglect. The 4 year time limit came into operation on 1 January 2005 by virtue of S.I. No. 514 of 2003 entitled “Finance Act 2003 (Commencement of Section 142) Order 2003”.

Details

(1) “neglect” means—

  • in the case of an instrument or specified statement, a failure to disclose in the instrument, or as the case may be, in the specified statement, all the facts and circumstances affecting the liability to duty of such instrument or specified statement,
  • in the case of an instrument to which section 8(2) applies, as between both the instrument and the statement referred to in that section, a failure to disclose all the facts and circumstances affecting the liability to duty of such instrument, or
  • in the case of an instrument of the type referred to in section 76, a failure to enter a correct instruction in a relevant system within the meaning of section 68.

“relevant instrument” means an instrument stamped by the Revenue Commissioners, a specified statement delivered to the Revenue Commissioners or an instruction of the type referred to in section 76 (CREST provisions).

“relevant period” means the period of 4 years commencing on the date the instrument was stamped by the Revenue Commissioners, the date the statement was delivered to the Revenue Commissioners, or the date the instruction was made.

“specified statement” means -

  • an account delivered to the Revenue Commissioners under section 5 (in respect of composition duty),
  • a statement that is required to be delivered to the registrar under section 117(1)(b) (in respect of companies capital duty), or
  • a statement that is required to be delivered to the Revenue Commissioners under Part 9 (in respect of levies (e.g. financial cards and the 2% insurance levy)).

(2) Any enquiries or other action made or taken by the Revenue Commissioners to satisfy themselves as to the correctness of a stamp duty charge on a relevant instrument (as defined above) may not be initiated after the expiry of the relevant period (as defined above).

(3) An assessment made by the Revenue Commissioners in connection with or in relation to any relevant instrument (as defined above) may not be made after the expiry of the relevant period (as defined above).

(4) The 4 year time limit imposed by this section on the Revenue Commissioners to make enquiries, take action and raise assessments will not apply where the Revenue Commissioners have reasonable grounds for believing that any form of fraud or neglect has been committed by or on behalf of any person in connection with or in relation to any relevant instrument.

Relevant Date: Finance Act 2014