Someone close to me is the subject of the above. The notification states that "Following a review of data received under the Automatic Exchange of Information between tax administrators a review of you Income Tax returns has been triggered".
I helped them with their return and know the financial circumstances. Overseas income has all been declared: it is just small dividends on one UK stock which has been owned for 20 years + and a tiny coupon payment on a German Government bond. There were reasonably substantial purchases of non Irish EUR Govt bonds during the period but other than accrued realised on sale of a small amount of one holding, there was no coupon received. The small CG on that sale was declared. Any views on what triggers these type of interventions? The "web guidance" on Level 1 interventions is that they are of low concern provided dealt with promptly.
I believe that the return is correct and all information has been supplied and don't see an immediate need to engage expensive advice but I can draft the response for them to send. My one reservation is that I have previously had bad experiences with Revenue essentially "trying something on" where I responded honestly and accurately to their queries but they tried to spook me (and succeeded!) quoting some obscure UK precedent. I subsequently engaged professional advice and Revenue abandoned their efforts after a short period (the tax advisors didn't bring up any additional points of law just repeated what I had said).
I helped them with their return and know the financial circumstances. Overseas income has all been declared: it is just small dividends on one UK stock which has been owned for 20 years + and a tiny coupon payment on a German Government bond. There were reasonably substantial purchases of non Irish EUR Govt bonds during the period but other than accrued realised on sale of a small amount of one holding, there was no coupon received. The small CG on that sale was declared. Any views on what triggers these type of interventions? The "web guidance" on Level 1 interventions is that they are of low concern provided dealt with promptly.
I believe that the return is correct and all information has been supplied and don't see an immediate need to engage expensive advice but I can draft the response for them to send. My one reservation is that I have previously had bad experiences with Revenue essentially "trying something on" where I responded honestly and accurately to their queries but they tried to spook me (and succeeded!) quoting some obscure UK precedent. I subsequently engaged professional advice and Revenue abandoned their efforts after a short period (the tax advisors didn't bring up any additional points of law just repeated what I had said).
