Annual Registration is expected to commence in the first quarter of 2020. The cost will be €40 per annum. The late payment fee structure is similar in nature to the original structure of the Non-Principal Private Residence (NPPR). A penalty of €10 will be charged in respect of each month or part of a month falling after such expiration until the tenancy is registered.
In a situation where a property owner erred and missed registering a tenancy and did not notice the omission for 4 years there may be a liability as follows: –
|Annual Cost||Penalty Accumulating||Penalties|
|Year 1||€40||48 months x €10||€480|
|Year 2||€40||36 Months X €10||€360|
|Year 3||€40||24 months x €10||€240|
|Year 4||€40||12 months x €10||€120|
The total cost for erring in this case is €1360