Gift and Inheritance Tax (Capital Acquisitions Tax – CAT)
What charges are there for late filing?
A surcharge applies for the late filing of a return. The surcharge, which is a percentage of the CAT due for that year, depends on the latness of the return.
5% of the tax (up to a maximum of €12,695) applies for late filing of less than 2 months.
10% of the tax (up to a maximum of €63,485) applies for late filing of more than 2 months.
You may also have to pay the following daily interest rates for late payments:
Daily interest rates for late payment
| Valuation Period | % Interest due |
|---|
| 31 March 1976 to 31 July 1978 |
0.0492% |
| 1 August 1978 to 31 March 1998 |
0.0410% |
| 1 April 1998 to 31 March 2005 |
0.0322% |
| 1 April 2005 to 30 June 2009 |
0.0273% |
| 1 July 2009 to date of payment |
0.0219% |
A reduced rate of interest applies where Capital Acquisitions Tax (CAT) due on agricultural property and relevant business property is being paid by instalments.
| Valuation Period | % Interest due |
|---|
| 8 February 1995 to 31 March 1998 |
0.0307% |
| 1 April 1998 to 31 March 2005 |
0.0241% |
| 1 April 2005 to 30 June 2009 |
0.0204% |
| 1 July 2009 to date of payment |
0.0164%
|
If an instalment payment is overdue, the interest rate reverts to the normal daily rate.
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