Irish Revenue’s updated Code of Practice

Revenue Compliance Intervention. Revenue Audits and Investigations. Revenue code of Practice. Income Tax, VAT, Employer’s Taxes, Corporation Tax.

Today, 9th April 2025, the Revenue Commissioners updated their guidance material in relation to the Code of Practice and Compliance.  Please click link: https://www.revenue.ie/en/self-assessment-and-self-employment/code-of-practice-and-compliance/index.aspx

As you’re aware, the Code of Practice for Revenue Compliance Interventions is a set of guidelines on how the Revenue Commissioners conduct compliance interventions.  It covers all aspects of compliance including your right to make a qualifying disclosure.

A qualifying disclosure must contain complete information and full particulars in relation to the tax liability arising under each relevant tax head.  It should be in writing and signed by the taxpayer and should also be accompanied by the correct tax payment plus corresponding interest.

Taxpayers are advised to make a qualifying disclosure to:

1. lower the level of tax penalty,

2. prevent the settlement from being published by Revenue and thereby avoid your name appearing as a Tax Defaulter, and

3. prevent prosecution as the Revenue Commissioners, generally, won’t initiate an investigation with a view to prosecution.

At Accounts Advice Centre, we have extensive, specialist experience in effectively handling Revenue enquiries. We manage all communications with the Revenue Commissioners in respect of the compliance intervention. We carry out health checks to identify areas for concern, prepare Qualifying Disclosures and seek to mitigate interest and penalties.  If you have received a Notification and require our help, please contact us at queries@accountsadvicecentre.ie

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.