If you are one of the half a million people or so – who opted to pay the Local Property Tax directly from your bank account by Single Debit Authority – this is just a reminder that the full amount of Property Tax will be deducted by Revenue today – 21st March 2014.
Over 30% of Property Tax payers opted for the Single Debit Authority – even though it means that they have to confirm the payment method every year. It would be much easier to spread the payments by direct debit over the whole year – with less of a shock to your bank account in March too!
Some people may have forgotten the date – and it will be very easy for them to go overdrawn before next payday because of this large debit. To avoid any unwanted overdraft fees – you may need to top up your currrent account or cut down on some spending before the end of the month.
If you still haven’t sorted out your Property Tax for 2013 or 2014 it is still not too late.
Revenue are warning people that they will start applying penalties and/or interest after March 31st.
The message from Revenue is that if you were the owner of a residential property on 1st May 2013 and you did not receive any correspondence from Revenue you are, under self-assessment rules, still liable to pay and file your LPT. Contact Revenue at 1890 200 255 and pay and file by 31 March 2014 to avoid interest and penalties.
More about the Property Tax Here