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New CAT pay and file dates
by Kieran Kennelly

The 2010 Finance Act introduces a fixed pay and file date for CAT of 31 October. Previously, if a CAT return and payment was due, in respect of a gift or inheritance, the return had to be filed and the payment made, within 4 months of the valuation date.  

For all gifts and inheritances with a valuation date between 1 January and 31 August – the CAT return must be filed by 31 October of that year and any resulting CAT liability must be paid by that date.  Where the valuation date arises between 1 September and 31 December the relevant date for filing and payment is 31 October in the next year.  While it is not always possible to manipulate the valuation date (the valuation date will normally be the date of probate or the date of death) but where there is an element of control 1 September would appear to give the maximum amount of time before payment of 14 months.

The existing paper return (Form IT38) is being replaced with a simplified paper version where the beneficiary is not claiming any reliefs or exemptions except the small gift allowance.

Where any relief or exemption is being claimed the return must be filed electronically through ROS.  A major advantage of ROS is that the system will calculate the correct CAT due based on the information entered on the return. 

A surcharge will now arise in respect of late returns.  A 5% surcharge applies subject to a maximum of €12,695 where the tax return is delivered within 2 months of the filing date.  A 10% surcharge up to a maximum of €63,485 will be applied where the tax return is not delivered within 2 months of the filing date. 

If you have any queries on the above, please contact Kieran Kennelly on 021 4310 266 or



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