Revenue Audits / Investigations
To ensure the successful operation of a self-assessment tax system such as Ireland's, tax audits are essential. If Revenue did not perform audits, investigations and raise queries, there would be no obstacle to tax evasion. Therefore, audits are taken very seriously by the Revenue Commissioners and should also be taken very seriously by taxpayers.
Being selected for audit is not necessarily bad news for the taxpayer and indeed many audits result in a clean bill of health for taxpayers.
If you have been selected for audit, good preparation in the days leading up to the commencement of the audit is essential to ensure it runs smoothly.
We can meet with you to discuss areas which the auditor is likely to focus on and help you to prepare for issues which are likely to be queried. We will also inform you of the possible penalties would could arise if irregularities are uncovered and the implications of making a voluntary disclosure of any irregularities prior to commencement of the audit.
We can accompany you at the initial and closing meetings with the auditor and provide ongoing consultation during the course of the audit.
On receipt of an audit report from Revenue, you may wish to dispute some of the findings in the report or perhaps may not agree with a settlement amount for underpaid tax proposed in the report. In this event, we can advise you on the review and appeal process which is open to you.
Outside of the audit mechanism, the Revenue Commissioners also have extensive powers granted to them by legislation. We can advise taxpayers on all of Revenue's powers and the potential penalties which can apply for non-compliance.