Local Property Tax

Cosgrove Gaynard Solicitors

The Local Property Tax (LPT) comes into effect on the 1 July 2013. There will be a half year charge for 2013 and a full charge from 2014 onwards.

Local Property Tax  

The Local Property Tax (LPT) comes into effect on the 1 July 2013. There will be a half year charge for 2013 and a full charge from 2014 onwards.

The main features of the Local Property Tax are as follows:

1. Liable persons are the owners of residential property.

2. The tax will be collected through a self assessment system through the Revenue Commissioners .  

3.  The assessment of the tax will be based on the market value of the property. The market value will fall into one of the tax value bands . A rate of tax has been set against each of the tax bands.

4. Payment can be made by card, instalments or deduction at source.

5. Exemptions exist for certain properties ie newly constructed, mobile homes, certain properties owned by a public body or charities, properties unoccupied due to infirmity and  certain unfinshed developments.

6. Further exemptions exist for new properties purchased before the end of 2016 and for second hand properties purchased by first time buyers in 2013.

All news
My business is struggling, what are my options

When a business fails, for whatever reason, the liquidation of the company should not be the only option considered. There is another option to be considered called examinership.

Text Link
The remortgage legal process explained

Remortgaging is the process of moving your mortgage to a new lender from your existing lender. People may choose to remortgage for various reasons, including to pay off other debts, to reduce monthly payments, or even to pay off the mortgage earlier. This article will guide you through the legal process of remortgaging and how you can go about doing it.

Text Link
New Personal injuries guidelines in Ireland

New guidelines have been introduced for Personal Injury claims in Ireland. See our article below which sets out the practical implications of when the new guidelines come into effect and how they may affect your personal injury claim.

Text Link
SCARP - Small company administrative rescue process announced

The Minister for Trade, Promotion, Digital and Company Regulation, yesterday announced government approval for the priority drafting of the Companies (Small Company Administrative Rescue Process and Miscellaneous Provisions) Bill 2021. The Bill amends the Companies Act 2014 by providing for a simplified restructuring process referred to as SCARP (small company administrative rescue process) for small and micro companies.

Text Link
Mortgage documentation : explained

Mortgage documentation explained. If you are buying a property and seeking finance, there are certain documents that will be required by your bank.‍ Once you are sale agreed on your property and have instructed your solicitor, you will need to inform your bank or lending institution of your solicitor’s details so that the bank can issue your loan offer and loan pack to them.

Text Link
FAQ'S on the recently enacted VASP registration process with the Central Bank

FAQ'S on the recently enacted VASP registration process with the Central Bank‍. Further to our recent article on the registration process, we have set out a number of replies to frequently asked questions that are arising from both current and new virtual asset service providers in Ireland.‍

Text Link