53A Surcharge for late returns

(1) “Specified return date” means —

• (a) in relation to a valuation date occurring in the period 1 January to 31 August in any year, 31 October in that year,
• (b) in relation to a valuation date occurring in the period 1 September to 31 December, 31 October in the following year.

For the purposes of the section —

• (2)(a) a person will be deemed to have failed to have delivered a return on or before the specified return date unless the error in the return is remedied on or before that date where a person has fraudulently or negligently delivered an incorrect return,
• (2)(b) a person will be deemed to have failed to have delivered a return on or before the specified return date unless the error in the return is remedied without unreasonable delay where a person delivers a return on or before the specified return date but does so neither fraudulently or negligently and it comes to that person’s attention (or to the attention of that person’s personal representatives where that person is dead) that it is incorrect,
• (2)(c) a person will be deemed not to have delivered a return on or before the specified return date unless a person delivers a statement or evidence within the time specified in the notice where a person delivers a return on or before the specified return date but the Revenue Commissioners, by reason of being dissatisfied with any information contained in the return, require that person by notice in writing served on him or her under section 46(7) to deliver such statement or evidence as may be required by them.

(3) Where a person is required to deliver a return and fails to do so on or before the specified return date, the amount of tax for that year which is or would have been payable if such a return had been delivered will be increased by an amount (referred to as “the surcharge”) equal to —

• (a) 5 per cent of the amount of tax, subject to a maximum increased amount of €12,695 for delays in filing of less than 2 months,
• (b) 10 per of the amount of tax, subject to a maximum increased amount of €63,485 for delays in filing of more than 2 months.

(4) Where the tax contained in the assessment to tax is not the amount of tax as increased, the provisions of the Act, including in particular those relating to the collection and recovery of tax and the payment of interest on unpaid tax, apply as if the tax contained in the assessment were the amount as so increased by the surcharge.

Relevant Date: Finance Act 2015