The due diligence form

This is the first of a series of blogs on the new Revenue Clearance procedure. I set out below my link to my previous blog on this topic.

Essentially the new Revenue Clearance procedure requires personal representatives to make sure they have conducted sufficient due diligence in a case. We will be looking in-depth at aspects of the due diligence procedure in a later blog. However, the due diligence procedure is a series of questions that a personal representative must satisfy prior to being able to apply for clearance.

For your ease, we have set out here the Due Diligence Questionnaire, which you can download and use. This is essentially a reprint of the due diligence questionnaire from the Revenue manual but in a document that you can download and complete yourself.

Comments on the procedure

According to the Revenue manual, clearance can only be applied for when “the value of the estate has been ascertained”. This doesn’t mean that the residue must be ascertained but the value of the estate. One would have thought that once the SA2 is completed fully, then the value of the estate is ascertained. So, obviously, clearance cannot be applied for, until all assets and liabilities have been identified fully.

To be able to request clearance (if relevant) the application for the grant of probate/administration must have been submitted. This is a must. (See our later blogs where there is no grant required). The grant or letters of administration don’t need to have issued, once, the application is made.

To apply for clearance, the Due Diligence questionnaire as attached to this blog must be completed.

Finally, an income tax return (Form 11) is made for the period from 1 January to the date of death.

So in short, the following must be done prior to submission

1. File your SA.2
2. Submit your papers for probate/administration
3. Complete the attached questionnaire
4. Complete your Form 1.

Sounds simple but there are many steps that will be needed to be completed prior to getting to this stage. We will deal with these in later blogs.

Hope this helps and if you have any queries on probate, will drafting or capacity issues, please email me at ckelly@hcalaw.ie.

Here is a link to the form.

Here is my previous article on the Revenue Clearance procedure

New Revenue Clearance Procedures