What to do if you are notified of a Revenue Audit?
- Engage a tax consultant
- Review books and records
- Agree any underpaid tax amounts
- Agree approach to take with Revenue
Areas of focus for Revenue during an audit –
- How PAYE / PRSI is calculated
- Business expenses claimed by owners
- Expenses claims by employees
- Application of benefit in kind
- Mileage, motor, travel and subsistence
- The operation of VAT
- Using incorrect VAT rates
- Reclaiming VAT on costs which are specifically precluded
- Lifestyle checks re business income generated
- Subcontractors tax in the construction industry
We do a lot of work in this area and are happy to help with your Revenue Audit.
We can also review your affairs in case you are selected for an audit.