Revenue Audit & Investigations, undeclared irish income, overseas property acquired with undeclared income

By: Stephen Egan  05/12/2011
Keywords: investigations

In recent years revenue have conducted a number of investigations including investigations into off-shore bank accounts, bogus non-resident accounts and certain insurance & investment products.

Investigations in the near future will focus on non-declared Irish bank deposit interest particularly where deposited funds cannot be legitimately accounted for.

Also investigations are on-going and will intensify in the area of overseas property acquired with undeclared Irish income.

We specialise in representing people who have issues in these areas.

Also, routine business tax audits can be quite stressful for taxpayers and often for a range of reasons, innocent or otherwise, substantial previously unrecognised tax liabilities can be uncovered.

In all of these instances and irrespective of the culpability of the taxpayer it is important that the taxpayer is professionally represented. Moreover the representation can be much more effective particularly in mitigating interest and penalties if our firm is engaged prior to commencement of the investigation or audit.


Keywords: investigations

Other products and services from Stephen Egan

05/12/2011

Revenue Settlements & Negotiations, instalment arrangements, hardship cases, late payments of tax

Revenue have indicated that where there are genuine reasons for late payments and where a viable business can be shown to still exist, then they are prepared, under certain circumstances and subject to particular information being provided, to be sympathetic and realistic in their approach. It is also possible in genuine hardship cases to have the collection of taxes due suspended or possibly written off either partially or in full.


05/12/2011

Stephen Egan Income Tax Returns ,sheriff's demands , revenue powers of attachment, directors tax returns

Advising on related issues including payments, refunds and interest charges.Advising on specialist tax reliefs including the business expansion scheme, artist's exemption and various legitimate tax shelter schemes. This mainly refers to self-employed persons but includes those with a source of investment or rental income where tax cannot be recovered by restricting their tax credits under the PAYE system.


05/12/2011

Tax Arrears Cases, tax court prosecutions,missing accounts records, late returns, interest and penalties

In a very small number of tax arrears cases, taxpayers often fail to submit tax returns or to make payments for a number of years and over a range of tax heads. Professionally prepared submissions with appropriate back-up documentation and analysis will result in an effective and relatively speedy response from Revenue.


05/12/2011

vat returns, vat3 form, vat refunds commercial vehicles, vat audits, vat registration limits, vat property transactions

REGISTRATION A person supplying taxable goods or services must register for vat as soon as it becomes clear that they exceed or will likely exceed the relevant registration limit. As part of our range of compliance services to clients we can be engaged to prepare a range of vat returns including vat3's and also annual returns.


05/12/2011

Estate Planning, cgt retirement relief, cgt exemption disposal of business, cgt relief sole traders

Because of the dramatic fall in asset values caused by the current financial and economic crisis there has never been a better time in recent years to transfer assets particularly business assets to children or other relatives. His son Patrick will likely have no capital acquisitions tax to pay as he will be able to avail of business relief. Estate planning often involves the disposal of business and other assets to family members.


05/12/2011

capital acquisitions tax

Gift tax, inheritance tax, cat thresholds, cat exemptions, cat reliefs, cat transfers between spouses, cat dwelling house relief, cat agricultural relief, cat business relief, cat divorced spouses. There are substantial tax free thresholds which effectively mean the beneficiary is exempt tax on cumulative dispositions received over many years depending on their relationship to the donor.