Finance Act, 1978
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Time limits in relation to assessment of, and proceedings against, personal representatives. |
11.—(1) Section 211 of the Income Tax Act, 1967 , is hereby amended by the substitution of the following subsection for subsection (2): | |
“(2) No assessment under this section shall be made later than three 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 two years after the expiration of the year of assessment in which such grant was made in any other case, but the foregoing provisions of this subsection shall have effect subject to the proviso that where the executor or administrator— | ||
(a) after the year of assessment in which the deceased person died, lodges a corrective affidavit for the purposes of assessment of estate duty or delivers an additional affidavit under section 38 of the Capital Acquisitions Tax Act, 1976 , or | ||
(b) is liable to deliver an additional affidavit under the said section 38, has been so notified by the Revenue Commissioners and did not deliver the said additional affidavit in the year of assessment in which the deceased person died, | ||
such assessment may be made at any time before the expiration of two years after the end of the year of assessment in which the corrective affidavit was lodged or the additional affidavit was or is delivered.”. | ||
(2) Section 504 of the Income Tax Act, 1967 , is hereby amended by the substitution of the following subsection for subsection (2): | ||
“(2) Proceedings may not be commenced by virtue of subsection (1) against the executor or administrator of a person at a time when, by virtue of subsection (2) of section 211, the said executor or administrator is not assessable and chargeable under the said section in respect of tax on profits or gains which arose or accrued to the said person before his death.”. |