Posts Tagged ‘Kildare Accountant
Internet selling…. BEWARE
Selling on the internet, may not be as straight forward as you might think…..The Irish revenue are reviewing what the Revenue and Customs have done in the United Kingdom recently.
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Thinking of starting a business?
Top tax tips for starting in a business
The decision to set up a business is an exiting and a somewhat daunting one! Tax will always be a key element of any business and it is essential to get your tax affairs in order from the get-go and to make sure your tax system ties in with your business idea. Ensuring you are
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Top Ten Tips when dealing with Revenue.
Article by Patrick Sutton, Partner, O’KellySutton, The Sunday Business Post, 2nd Sept, 2012.
Taxpayer’s compliance record:
A compliant taxpayer is significantly less likely to be selected for Revenue audit. Revenue can also assist in obtaining a phased payment plan in the future, should you ever find yourself unable to pay your tax liabilities on time.
Accurate returns:
As we all know, it is a legal requirement that tax returns are accurate. The penalties for false returns are severe and can include prison sentences in some cases. If you fine a return already submitted is not correct, we advise that a corrected return or supplementary return be submitted. Continually correcting returns can attract the Revenue’s attention.
Timely returns:
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Man jailed over garlic tax scam: (9-3-12)
Fruit and Vegetable business man has been jailed for six years for a €1.6 million scam involving the importation of garlic. He avoided paying customs duty on over a thousand tonnes of garlic from China by having them labeled as apples. The maximum sentence for the offence is five years in prison or a fine of three times the value of the goods.
Judge Martin Nolan imposed the maximum term on one count and one year on another count. These are to run consecutively, meaning a total of six years. However, the judge added he had engaged in a “grave” and “huge” tax evasion scheme. The import tax on garlic “may or may not” be excessive, he said but that this was for the Oireachtas to decide and not individuals.He said he had to impose a significant jail term because such offences are difficult to uncover and therefore the only effective deterrence is lengthy prison terms for those who are caught. Partick O Rourke , Partner OkellySutton , Kildare. www.okellysutton.ie
O'Kelly Sutton
