Capital Acquisitions Tax Consolidation Act 2003 section 53A

Section 53A imposes a surcharge on the amount of capital acquisitions tax payable where a return is not delivered on or before the specified return date.

• The specified return date is 31 October in the same year where the valuation date falls between 1 January and 31 August, 31 October in the following year where it falls between 1 September and 31 December, or the last day of the four-month period after the valuation date in the case of discretionary trust inheritances.
• A return filed on time may still be treated as late if it was made fraudulently or negligently, if errors are not corrected within a reasonable time, or if Revenue requests further information and the taxpayer fails to provide it within the specified deadline.
• The surcharge is 5% of the tax (maximum €12,695) where the return is filed within two months of the specified return date, or 10% of the tax (maximum €63,485) where it is filed more than two months late.
• The surcharge is collected and enforced in the same manner as if it were part of the original tax assessment, including the application of interest on unpaid tax provisions.