Revenue audits are being conducted with increased regularity.
For business owners and managers, it is vital to get expert advice and assistance before, during and after an audit. We have experience of advising clients how to deal with tax audits, investigations and related enquiries.
As part of the operation of self-assessment Revenue have significantly increased the number of investigations and audits that they conduct.
These audits are now widespread across all taxes, including:
-VAT & PAYE
In addition, the powers of the Revenue have expanded significantly and have become more onerous and complex. Penalties for non-compliance with the tax code also have increased substantially.
If our client is selected for Revenue audit, we don’t expect them to face the music on their own. We ensure that our client is prepared for a tax audit in advance. We are also on hand during the audit to advise them and protect their interests. Our services include:
-Advice on Revenue audits
-Pre-audit and inspection health checks
-Liaising with Revenue during audits and enquiries
-Negotiating settlements where necessary
Back duty investigations
Back duty investigations arise when a revenue audit covers several prior tax years. E.g.: where previously undisclosed offshore accounts, previously undisclosed income etc is either discovered by the Revenue or is voluntarily disclosed by the taxpayer.
-to make the required voluntary disclosures
-to prepare the back duty calculations needed
-to negotiate and conclude a settlement with the Revenue
Simona Petraskaite ACCA