Finance Act 2025
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Assessment of executors and administrators | ||
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90. (1) The Taxes Consolidation Act 1997 is amended— | ||
(a) in section 1048— | ||
(i) by the substitution of the following subsection for subsection (2): | ||
“(2) Subject to subsection (2A), no assessment under this section shall be made later than 3 years after the expiration of the year of assessment in which the deceased person died in a case in which the grant of probate or letters of administration was made in that year, and no such assessment shall be made later than 2 years after the expiration of the year of assessment in which such grant was made in any other case.”, | ||
and | ||
(ii) by the insertion of the following subsection after subsection (2): | ||
“(2A) (a) In this subsection— | ||
‘applicant’ has the same meaning as it has in the Regulations of 2020; | ||
‘Regulations of 2020’ means the Capital Acquisitions Tax (Electronic Probate) Regulations 2020 ( S.I. No. 341 of 2020 ). | ||
(b) Notwithstanding subsection (2), where, in accordance with paragraph (3) of Regulation 3 of the Regulations of 2020, an applicant is required to rectify a material error or omission in information delivered to the Revenue Commissioners in accordance with paragraph (1) of the said Regulation, an assessment under this section may be made at any time before the expiration of 2 years after the end of the year of assessment in which the material error or omission is so rectified.”, | ||
and | ||
(b) in section 1077D(2), by the substitution of “subsection (2) or (2A), as the case may be,” for “subsection (2)”. | ||
(2) Subsection (1) shall not apply where, in accordance with Regulation 3(3) of the Capital Acquisitions Tax (Electronic Probate) Regulations 2020 ( S.I. No. 341 of 2020 ), an applicant (within the meaning of the said Regulations) rectifies a material error or omission in information delivered to the Revenue Commissioners, in accordance with Regulation 3(1) of the said Regulations, prior to 1 January 2026. |