Ms Josephine Feehily:

They cannot self-correct downwards; they can only self-correct upwards. We have made it very clear publicly that we are aware that elderly people may have overvalued their properties, particularly if they followed Revenue's estimate too closely, which we fully appreciate is not always correct. Many thousands of such persons have been in touch with us. They are applying for refunds, sending us evidence and we are giving them refunds. In quite a few cases the refund was used as a down payment to meet the 2014 liability and, in some case, the 2015 liability.