Important Reminder for Those Filing Corporation Tax Returns – Don’t Forget The LPT Surcharge
Here are some important reminders for those filing corporation tax (CT) returns in the coming weeks:
Companies which hold residential properties may be subject to a Local Property
Tax (LPT) Surcharge on their CT return if they have not paid their LPT and
filed their LPT return by the time their CT return is filed.
This LPT Surcharge may apply even if the CT return is filed on time.
Revenue has this week published important new guidelines on the application
and calculation of the LPT Surcharge.
Members are advised to read this guidance carefully before filing CT returns.
For more information, access our dedicated LPT webpage. Further detail will follow in today’s TaxFax. In the meantime, Revenue’s guidelines can be accessed here.