Tradesmen warned prepare for unannounced visits
By Maurice Garvey
TRADESMEN have been warned by a local accounting firm to prepare for “unannounced visits” from the Revenue Commissioners with a crackdown on tax evasion in full effect, reports Maurice Garvey.
Revenue formally announced new campaigns against tax evaders working in construction and building, particularly focused on areas of VAT and Relevant Contracts Tax.
This clampdown follows other campaigns focused on doctors and dentists.
According to Accountant, Greg Murphy of TaxAssist Accountants – a firm with thousands of small clients nationwide and an office in Tallaght – Revenue have been very active in this area in the last six months with many in the industry being hit with interest and penalties.
Greg Murphy said: “Revenue warned operators in the construction sector to expect additional queries and audits. This has even included unannounced visits to construction sites.
“They are looking in particular at the issue of the VAT reverse charge and payments to sub-contractors so this is something to be very careful with.”
He continued: “The aim of the recent announcement from Revenue is to encourage people to own up about tax owed in return for favourable settlement terms.”
Murphy urges workers in the construction sector to get ready for any unexpected audits.
“Now, more than ever, it is it important to speak to your accountant and do a health check to ensure all of your affairs are in order, and you are managing the VAT and RCT element of your business correctly,” he said.
