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LPT update from Revenue
Revenue has provided an update on the General Clearance Conditions for LPT.
The updates are as follows:
Condition 1
General clearance condition 1 applies where a property is sold for a price that does not exceed €350,000.
Condition 2(A)
Condition 2 (A) applies if property was liable to LPT on 1 May 2013 where the sale price does not exceed:
- 95% of the upper limit of the valuation band (or 95% above the actual declared value for properties above Band 19) declared as of 1 May 2013
and
- 10% of the upper limit of the valuation band (or 10% above the actual declared value for properties above Band 19) declared as of 1 November 2021.
Condition 2 (B)
Condition 2 (B) applies if property was not liable to LPT on 1 May 2013 where the sale price does not exceed:
- 10% of the upper limit of the valuation band (or 10% above the actual declared value for properties above Band 19) declared as of 1 November 2021.
If these General Conditions do not apply you should apply to Revenue for specific clearance by completing Form LPT5.
For more information on LPT visit the LPT webpages on the Revenue website.
