Finance (Local Property Tax) Act 2012 section 38

Surcharge for late submission of income tax and corporation tax returns

Section 38 imposes an income tax or corporation tax late filing surcharge on liable persons who fail to file their local property tax (LPT) return or pay the LPT due by the relevant self-assessment filing deadline.

• A liable person who is also a self-assessment taxpayer and who fails to file an LPT return, or pay the LPT due, by the income tax or corporation tax return filing date will be treated as having filed their income tax or corporation tax return late.
• The consequence is that a late filing surcharge under section 1084 of the Taxes Consolidation Act 1997 is applied to the income tax or corporation tax liability, at the rate that applies where a return is more than two months late.
• If the liable person subsequently files all outstanding LPT returns and pays the LPT (or enters into a payment arrangement with Revenue), the surcharge is capped at 50 per cent of the LPT payable under those returns.
• If the person has genuinely filed their income tax or corporation tax return late and a surcharge has already been imposed on that basis, this section does not apply in addition.