Thanks Mf1,
My understanding is that no returns were made at the time. They apparently never got any demand from Revenue, and coupled with the fact that they believed they were under the income treashold, never bothered to apply and do a return (whereas they should have sought an application and returned it anyway, even if nothing was due).
Its not really my problem as you say, but these things if not in place could hold up the transaction, should I proceed in due course. Im only sniffing at the property currently, as its not formally on the market, but heard it will be soon and is local to where I live.
1) You have answered the main issue I think, in that they could do returns in advance of sale, have these figures agreed with Revenue,and if any monies due, then these could be taken and paid to revenue from the proceeds of the sale as part of the closing process?
2)I was also wondering that given there is probably no liability anyway, is the certificatiion necessary, ie is this a legal requirement as part of closing
process?
3) Wondering as a curiosity if there were non-disclosure issues/penalties here, in addition to arrears payment and simple interest addition?
thanks
Runner.