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"professional, knowledgeable, experienced"

"always go the extra mile"

"years of co-operation, integrity & success"

"an invaluable partner for our business"

"huge support & genuine concern for us"

"gave me peace of mind"


Local Property Tax

Local Property Tax

The Local Property Tax (“LPT”) was introduced in Budget 2013.

This tax replaces the Household Charge for 2013 and applies to all residential properties, including dwelling houses, rental properties and second houses/holiday homes. Companies who own residential properties are also liable.

While the Revenue will estimate the tax due, the LPT will operate through a system of self assessment. A liable person is responsible for self assessing the value of their property and submitting a completed LPT return.

Calculating the Tax

The LPT will be based on the market value of a residential property on the valuation date of 1 May 2013. This valuation will be the basis of the calculation of the tax for a four year period until 2016. The tax payable in 2013 will be confined to a half year charge. From 2014, LPT will apply on a full-year basis. There are several full exemptions/ temporary exemptions from the tax.

The rates of the tax are as follows:

Valuation National Rate Valuation Basis
Up to €1 million 0.18% Mid-point valuation bands
Excess > €1 million 0.25% Market Value

Filing the LPT Return

Revenue will issue each liable person with a LPT return together with a detailed guide. This paper form can be completed and returned to Revenue. It will also be possible to submit the return on–line using the Property ID and PIN provided on the Return. If you own more than one residential property or if you are already obliged by law to make your tax returns on-line, you must submit the Return on-line. You will note below that there is an extended deadline for filing on line.

Methods of Payment of LPT

There are a number of ways that the tax can be paid. These are as follows:

  • Debit/Credit Card (available online only)
  • Bank Single Debit Authority. To select this option it will be necessary to complete the payslip on the RPT return and payment will be deducted from your bank account.
  • Cash payments through certain service providers (e.g. the post office)
  • Voluntary deduction at source from salary/occupational pension and certain payments made by the department of Social Protection and the Department of Agriculture, Food and the Marine.

Key Dates

The key dates for the LPT are as follows:

01 May 2013 07 May 2013 28 May 2013 01 July 2013 15 July 2013 21 July 2013 The property must be valued on this date Deadline to file a paper LPT return Deadline to file an LPT return electronically Payment by one single payment or phased payment commences Commencement of direct debit payments Single Debit Authority payment deducted

 Penalty for Late/Non Filing

If a liable person fails to deliver a return, Revenue can estimate the tax due and impose a maximum penalty of €3,000. Interest will also arise on a daily basis. In addition to this, self employed taxpayers will be deemed to have not filed a complete income tax/corporation tax return by the due date, resulting in a surcharge of up to 10% of their liability.

Possible Exemptions from LPT

Certain properties are exempt from LPT and they are as follows:

  • Residential property that is used wholly as a dwelling and liable to commercial rates;
  • Principal private residence unoccupied by reason of long term mental or physical infirmity;
  • Newly constructed but unsold residential property;
  • Residential property owned by a public body or an approved charitable body and used to provide accommodation to people with special needs;
  • Houses in “ghost” estates or unfinished developments;
  • Properties purchased by first time buyers between 1 January 2013 and 31 December 2013 will be exempt until 2016; and
  • Newly constructed properties bought from builder/developer between 1 January 2013 and 31 October 2016
  • Registered Nursing Homes

Possible Deferrals

Owner occupiers unable to pay the LPT can defer payment of the tax until their financial position improves or the property is sold in the following specified circumstances:

  • Where gross income does not exceed €15,000 (single) and €25,000 (joint), LPT may be deferred in full;
  • Where gross income does not exceed €25,000 (single) and €35,000 (joint), half of the LPT may be deferred;
  • Where gross income, less 80% of mortgage interest falls below €15,000/€25,000, a deferral option will be available until 2017 (when mortgage interest relief also ends).
  • Interest will be applied on deferred amounts at a lower rate of 4% . The deferred amount, including interest, will remain a charge on the property.

How Buckley Kiely Can Help

While Buckley Kiely cannot assist in the valuation of your property, we can assist with the completion of your LPT form and the calculation or payment of the tax due.

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In the early years Buckley Kiely fulfilled the role of managing the setup and administration of the company, enabling me to focus on business development and the relationship grew on a needs basis from there. Although PCH is now a multi-national organisation we continue to maintain close involvement with Buckley Kiely and use their extensive experience and expertise. Their advice is invaluable as it is based on years of co-operation, integrity and success.

Liam Casey // CEO | PCH International

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Sean Foley // Design Centre Manager | Cypress Semiconductor Ireland

From our initial contact we have built up a really good working relationship with various members of the team.  They have provided us with exceptional tax advice, at pivotal times in the development of the company and we have also benefited greatly from their expertise in areas of accounting, bookkeeping & payroll.  They are proactive in putting forward constructive suggestions and the impression is that they are genuinely looking out for our best interests.  I’m very happy to give them my recommendation – companies considering locating to Ireland couldn’t ask for a better partner!

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Tom Bryan // Owner & Managing Director | Toss Bryan

In particular, I have been impressed by the recent handling of our tax return, the various options presented and the clarification provided in meetings to the financial management team, both in Cork and in the US.  Better yet, Buckley Kiely has provided us with a clear understanding of tax implications/laws in Ireland, which will be of significant benefit to us when making decisions in the future.  Based on our experience, I am delighted to recommend Buckley Kiely & Co.

Jorge L. Rodriguez // President & CEO | Paciv Europe Limited

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[Cork native James Whelton co-founded the globe-spanning CoderDojo movement when he was just a teen. Now in his early 20’s, he is a world renowned tech entrepreneur focused on the emerging tech scene in the Middle East.]

James Whelton // Founder | CoderDojo

Buckley Kiely has been an invaluable partner to us at every stage of the development of our business; providing us with serviced offices (in the early days), outsourced bookkeeping and payroll, accounts compliancy, taxation and investor advice second to none. The team is made up of real experts in their fields, which has given us great confidence and comfort that our affairs are well looked after, and has freed us up to focus on developing our technology and promoting the Trustev brand and business.  I recommend Buckley Kiely to every IT start-up I know!

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Newmarket Credit Union //

During this time they have carried out many varied financial services for us not least of which are the preparation of our annual audited accounts and taxation matters. Seamus and his team are always available for fast and immediate advice whenever it is needed and have been an invaluable resource for us in the day to day running of our company. No query is ever too big or too small for them and we would have no hesitation in recommending them to any potential clients.

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Brian O’Dwyer // Financial Director | RTE Cork

After about 8 months of meeting Fearghal [Collins, Partner at Buckley Kiely] for coffee to bend his ear with my ideas and having received tremendous support and advice from the team at BK, we were finally ready to go – along with business partner Dave Ronayne, chief executive of Irish Mainport Holdings and IBEC’s regional president for Cork, we launched Republic of Work in 2016. Buckley Kiely has been of tremendous support to us during our first year of business – I couldn’t imagine doing it without them.

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From a one-man-band to a fully-fletched orchestra – for almost 40 years, we have engaged Buckley Kiely & Co. as our accountant and business advisor. During that time, they have grown from strength to strength and have never backed away from any task given to them. They have always implemented the latest technology and employed top class human resources. In so doing, today they can deliver a full package of services required by any company and their employees.


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I met Richard Fowler of Buckley Kiely Wealth Management who gave me great advice on the best options. This was invaluable to me as it gave me peace of mind, in particular, given the uncertainties with the Euro and the banks. Many advisers out there are not independent, whereas Richard provided independent fee- based advice on what was in my mother’s best interests. The service provided by Richard and his staff is excellent, very efficient and professional.  I have no hesitation in recommending this service to anyone looking for professional, independent advice.

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Billy S. // Retired Bank Manager

Buckley Kiely was my first choice as accountant for BuiltInCork and they also provide financial support and advise to many of the startup members of the group.

DC Cahalane // Founder | BuiltInCork

Buckley Kiely are very professional while at the same time being very friendly and approachable. They have an excellent understanding of the pharmacy sector and have been instrumental over the years in helping to redevelop and modernise our business when required. Most recently they played a proactive role in the sale of the business, providing tax planning advice, dealing with due diligence and solicitors. The firm also provides sound, long-term financial advice. Buckley Kiely and I share our 40th anniversary as Seamus set up the business the same year that I qualified as a pharmacist, back in 1977 – I’d like to congratulate them on 40 years of excellent service.

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Team Buckley Kiely

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Seamus Buckley


John Kiely


John Flynn

Managing Partner

Fearghal Collins


Niall Dennehy

Commercial Business Manager

James Kiely

Director of Tax

Rosemary Farrell

Tax Advisor

Anne Murray

Tax Advisor

Jim Crowley

Tax Advisor

Yvonne Murphy

Audit Manager

Andrew Moynihan


Barry O’Neill

Business Support Manager

Denis Crowley


Michael Murray


Hilda O’Donovan

Management Consultant

Sam Lee

Senior Management Accountant

Norah O’Dwyer

Management Accountant

Alan O’Connell


Joe Duggan


Shane Harrington


Richard Fowler

Director - Buckley Kiely Wealth

Paul Buckley

Financial Planner - Buckley Kiely Wealth

Marian Fitzgibbon

Financial Services Administrator

Hilda Walsh

Administrative Receptionist


Team Buckley Kiely

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Fearghal Collins

E: fcollins@buckleykiely.ie

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