Finance (Local Property Tax) Act 2012 section 138

Limit on deferred amount

Section 138 sets a cap on the total amount of local property tax that may be deferred in respect of a residential property.

• There is an upper limit on how much local property tax (LPT) can be deferred for any given property.
• The limit is set by reference to the chargeable value of the property at the relevant liability date.
• Once the total amount of LPT already deferred equals or exceeds the property's chargeable value, no further deferrals may be claimed.
• The chargeable value used for this comparison is the value applicable at the liability date for which the additional deferral is being sought.