Services Contractors Project – Nationwide.
Recently, Revenue ran a project (Services Contractors Project) which involves the reviewing expenses claimed (travel, subsistence and similar expenses) by companies set up by individuals as a vehicle to provide contracting services are being targeted in the South West of the Country. They are now extending this project nationwide.
It is reported that Revenue are treating the amounts of tax involved and the pattern of “persistent behaviour over time”, Revenue is treating cases that fall within this project as deliberate default cases. Therefore, contractors who make an unprompted disclosure will be subject to penalties of 10% plus interest, whereas the penalty for prompted disclosures will be 50%.
Patrick O Rourke, O’Kelly Sutton, Chartered Accountants, Tax Consultants & Business Advisors.
Revenue Enquiry into Deposit accounts
Revenue has started a national enquiry into deposit accounts where interest paid in 2011 exceeds €635. Focus is on money undeclared for tax.
Patrick O Rourke,Partner OKellySutton, Chartered Accountants, Tax Consultants & Business Advisors.
Revenue Pension Review
Revenue is currently comparing the pension information received from DSP with the return of income Form11 for individuals who received a DSP pension payment in 2010 and prior, with a view to identifying those
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Budget 2013 – Ten point plan could spur on small businesses
In his Budget, Minister Noonan announced a ten point tax reform plan to help small businesses. Of particular interest in the ten point plan are the following elements:
Eventovate CEO named a Global Innovator
OkellySutton Client, Jonathan Ruane, CEO of Eventovate has been recognised as one of the top innovators across the global travel, tourism and hospitality industries, with his election to the PhoCusWright Class of 35.
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O'Kelly Sutton
