Revenue audits can be a daunting and stressful experience for any taxpayer regardless of the size of their business operations or their personal tax position. Audits conducted by Revenue are used as a mechanism of policing tax compliance and generally cover a specific period for a particular tax or multiple taxes if the taxpayer is registered for such. However Revenue can extend the review period of investigation if the circumstances require it. Such audits allow an inspector of taxes to review all profits, income and gains and ensure that they have been returned correctly and honestly and that all taxes, direct or indirect, have been operated correctly.
Revenue audits have become more onerous in recent times as Revenue has assigned significant resources to investigate compliance. This, together with technological advancements, such as e-auditing has led to highly detailed reviews of a tax-payers affairs that extends beyond filing tax returns. Revenue now have the power to scrutinise data in a way that was not possible in the past. This has led to organisations being required to hand over vast amounts of data for Revenue inspection. Our revenue audit team are highly knowledgeable professionals with the technical experience to allow them to perform regular health checks, spot the pit falls and ensure that our clients are best placed to deal with an audit or intervention if selected.
Our designated team of revenue audit specialists include team members across all tax heads. Our team has the technical and practical know-how to drive the audit forward to completion and are equipped with honed negotiation skills to ensure our taxpayers can continue business as usual knowing their affairs are in safe hands.
How can we help?
Our revenue audit team are equipped to assist with an audit across all areas of tax and if you have been selected for audit, we can help with the following:
- Liaising with the Irish Revenue Commissioners on your behalf;
- Review of the areas under audit in advance of the audit commencing, determining any gaps or areas to be regularised in advance of the audit and drafting any necessary disclosures in advance of the audit to avail of lower level penalties and non-publication;
- Providing regular health checks to ensure your tax compliance is meticulously maintained;
- Negotiation with Revenue to ensure our clients get the best settlement possible if there are penalties or interest to be paid; and
- On-going support throughout the audit and future planning to ensure our clients tax affairs and systems are accurate and compliant going forward.