There have been a number of changes under the Local Government Rates and other Matters Act 2019 and it is important for businesses to be aware of the following implications as outlined below:-
- Failing to pay rates before completing a sale or transfer of a property is now a criminal offence;
- Rates are now invoiced on an annual basis on the 1st January each year;
- Failure to pay rates will trigger a statutory charge on a property which continues indefinitely until the rates are paid in full. There is no limitation period to seek recovery of the unpaid rates;
- If a property is sold and the rates are left unpaid by the seller, they remain a personal liability of the seller with interest applying on the outstanding amounts;
- It is important that in any sale or purchase of commercial properties, both parties notify the local authority of the change of ownership as soon as possible following completion and within ten days of the closing date of the transaction.
For further information on any commercial matter, please do not hesitate to contact us on 01 2960666 or by email info@dillon.ie
