The Finance (Local Property Tax) Act 2012 (as amended) provides for a full deferral or partial deferral (50%) of Local Property Tax (LPT) where income levels are below specified thresholds or where other specified conditions exist.
Once granted, a deferral normally remains in place for the duration of the ‘valuation period’, which is currently 1 May 2013 to 31 October 2019. The deferred LPT becomes payable later and carries an interest charge of 4% per annum. The liability attaches as a charge on the property and must be paid before a sale or transfer of the property can be completed.
However, property owners can opt to pay the deferred liability at any time and in such circumstances Revenue will work with the property owner to agree a payment arrangement that best suits the particular circumstances. The agreed payment arrangement must include the full amount of the deferred tax plus the accrued interest.
If the Deputy is aware of a specific case he should advise the property owner to contact the LPT Helpline at 01-7383626 to discuss the possible alternatives.