The Gazette 1985

GAZETTE

SEPTEMBER1985

Practice Notes

AGRICULTURAL LOSS ASSESSMENT

Standard Form of Building Contract Members should note that the Irish Permanent Building Society has decided that all Building Contracts for private residences entered into subsequent to 30th Sept- ember, 1985, must be in the form of the Standard Build- ing Contract issued jointly by the Law Society and the Construction Industry Federation. The Standard Building Contract (1985 Edition) is available from the Society at a cost of £10 per pack of 50. Residential Property Tax The following statement in relation to Residential Property Tax has been issued by the Revenue Commis- sioners. The Commissioners have received a number of enquiries following a recent judgement in the High Court where a penalty of £1,000, together with costs, was entered against a person who had failed to make a return of his residential property. Residential property tax is a self-assessment tax under which certain persons are required to complete and lodge with the Revenue Commissioners a return (Form R.P.I) accompanied by payment of the tax due in respect of their residential property. Persons required to deliver a return in respect of the current valuation date (5 April, 1985), are (a) those who owned or occupied residential property, the market value of which exceeded £66,491 on 5 April, 1985; Completed returns, accompanied by payment of the self-assessed tax due, should have been lodged with the Revenue Commissioners on or before 1 October, 1985. The Revenue Commissioners have issued notices to a number of taxpayers who have failed to complete and lodge returns. A person required to do so who does not lodge a return or fails to comply with a notice is liable to a penalty of £1,000. Where a person fraudulently or negligently makes an incorrect return the penalties are £2,000 and the amount of the additional tax or, in the case of fraud, twice the additional tax. It is the policy of the Revenue Commissioners to pursue liability for penalties. DUBLIN CASTLE, DUBLIN 2. NOVEMBER, 1985. NOVEMBER, 1985. and (b) those who have been requested by the Revenue Commissioners to make a return.

We are in a unique position to offer the following:- • Combination of qualified Accounts Assessors and Agricultural Graduates. • Largest computerised Farm Data Bank in Ireland with Farm Enterprise Earnings Range. • Countrywide network of offices. To provide the following back-up services in Loss Assessments related to Agricultural Earnings. • Loss of income claims . CPO . Damages Assessments • Expert Reports . Inspections and Opinions . Expert Witness. IFAC Irish Farm Accounts Co-Operative Society Limited, Head Office, Irish Farm Centre, Bluebell, Dublin 12. Phone: Peadar Murphy at (01) 501166 - 501022

Branch Offices:- Athenry, Cahir, Cavan, Cork, Dungarvan, Donegal, Enniscorthy, Kilkenny, Limerick, Nenagh, Portlaoise, Roscommon, Tralee, Trim, Tullamore, Wicklow.

LAW SOCIETY TIES Ties with either a maroon or navy blue background bearing the insignia of the Law Society are available from Account Dept., Law Society, Blackhall Place, Dublin 7. Cost: £5.95

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