New pay and file arrangements were introduced for gift and inheritance tax from 1 January 2012. All gifts and inheritances with a valuation date in the 12 month period ending on the previous 31 August will be included in the return to be filed by 31 October 2012. This means where the valuation date arises between 1 January 2012 and 31 August 2012, the Pay & File deadline is 31 October 2012. Where the valuation date arises between 1 September 2012 and 31 December 2012, the Pay & File deadline would be 31 October 2013.
It is now mandatory to file online where the valuation date is on or after June 2010 unless specific criteria are met.
Where the CAT return is filed late, surcharges for late submission can be applied. Furthermore, there are restrictions on the uses of certain relief and allowances.
If you have any questions or require any assistance in relation to the above, please contact us by e-mail: firstname.lastname@example.org or by telephone 061 41 44 55.