Revenue audits are becoming increasingly common and can be very stressful for those involved, requiring a large amount of preparation. They can be comprehensive audits, or single tax head audits, or even straightforward verification checks. The Revenue Commissioners’ powers have also been greatly expanded as have the penalties for non-compliance. While Revenue are a lot more proactive in this area they are also keen to engage positively and reach workable solutions once tax payers are forthright and willing to engage.
Whatever the nature of the audit any engagement with Revenue should be thoroughly prepared in conjunction with your tax advisor – we work with our clients assessing the tax affairs for the period under review and ensuring all material factors are considered.
Under the Code of Practice for Revenue Audit they are focused on the three P’s – Penalties, Prosecution and Publication – and usually require a written advance disclosure (“qualifying disclosure”). We work with our clients responding to the initial audit notification and submitting the qualifying disclosure, or if negotiations around a settlement are necessary we engage with Revenue on our clients’ behalf.
Our Revenue audit services include:
- Advising on Revenue audits and responding to Revenue
- Pre-audit tax health checks
- Representing clients and liaising with Revenue during the enquiry phase and audit
- Negotiating settlements