Taxes Consolidation Act 1997 section 111AAM

UTPR group recovery

Section 111AAM provides a mechanism for Revenue to recover unpaid UTPR top-up tax from other members of a UTPR group where the UTPR group filer has failed to pay the tax within 12 months of its due date.

• Where a UTPR group filer does not pay UTPR top-up tax within 12 months of its due date, an authorised Revenue officer may serve a notice on any relevant member of the UTPR group demanding payment of the outstanding amount, including any related interest, surcharges or penalties.
• The notice must be served within the period beginning 12 months after the specified return date and ending four years after that date; the member served must pay the amount specified within 30 days and may subsequently seek reimbursement from the UTPR group filer.
• If the member served does not pay the full amount, the authorised officer may revoke the notice and issue a new one to a different relevant member of the UTPR group, continuing until the outstanding tax is recovered.
• A notice may not be served on a securitisation entity that is a relevant UTPR member where there is at least one other relevant UTPR member in the group (other than the UTPR group filer) that is not a securitisation entity.