Capital Acquisitions Tax Consolidation Act 2003 section 57

Overpayment of tax

Section 57 sets out the rules governing the repayment of overpaid capital acquisitions tax, including the time limits for making valid claims and the interest payable on such repayments.

• Revenue must make a just and reasonable repayment where a valid claim establishes that CAT (including interest, surcharges or penalties) has been overpaid, but the claim must generally be made within four years of the relevant due date.
• The four-year time limit does not apply where the repayment arises from the application of the 3% discretionary trust rate under section 18(3) or from double taxation relief under the Ireland–UK Estate Taxes Treaty.
• Interest on repayments runs at 0.011% per day from the relevant date (93 days after a valid claim, or the original payment date where Revenue made a mistaken assumption) until the repayment is made, provided the amount exceeds €10.
• A claim is only valid where it complies with the applicable tax law and provides Revenue with all information needed to determine the extent of any overpayment.