Posts Tagged ‘TAX

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.

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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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Work with the Tax-man to help with your late tax payments.

An Article that appeared in the Irish Independent, June 2012, advises Individuals and Small Business Owner to work with Revenue. The owners of small businesses and personal taxpayers, striving to survive, should approach the Revenue Commissioners when the cash flow is not there to pay their taxes as they fall due. However, this is the reality that is facing many small and medium enterprises on a daily basis.On top of concerns about maintaining sales and getting paid by customers, an additional worry they most certainly do not want is owing money to Revenue and not being able to pay it.

The Revenue has put in place a structure called a Phased Payment Arrangement (‘PPA’) to support and facilitate
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