What is "private correspondence"?
Are these letters from the Revenue stating that LPT is NOT a deductible expence.?
If so that is quite dramatic news and surelya precursor to an official announcement.
Or did I misunderstand Joe90/TMcG posts?
I fear that Revenue may be adopting the same interpretation of what is deductible as they did with NPPR. Because the relevant act allows for the deduction of rates levied by local authorities Revenue claimed that NPPR was not allowable as it was not levied by local authorities but by central govnt.
Revenue are probably making the same claim about the LPT and are disregarding the fact that local authorities can periodically adjust it by a small margin . That is, such adjustments by local authorities do not mean that they are actually"levying" this tax.
Every LL I know believes this LPT deductible ("Mr Noonan said it would be ").
Are they in for a shock ?