Taxes Consolidation Act 1997 section 653AP

Amount of vacant homes tax

Section 653AP sets out how the amount of vacant homes tax (VHT) payable for each chargeable period is calculated, based on a multiple of the base local property tax (LPT) rate for the property.

• VHT is calculated as a multiple of the base LPT amount for the property, before any local authority adjustment factor is applied.
• The multiplier has increased over successive chargeable periods: three times for the period from 1 November 2022, five times from 1 November 2023, and seven times from 1 November 2024 onwards.
• VHT must be paid, or a payment arrangement entered into, by 1 January following the end of the chargeable period; statutory interest of 0.0219% per day applies to any late payment, and a surcharge applies for late filing of the VHT return.
• VHT, together with any related interest, surcharge or penalties, is not deductible in computing profits or gains for income tax, corporation tax or capital gains tax purposes.