A prompted voluntary disclosure must cover all the taxpayer's outstanding liabilities, otherwise it is invalid
In addition –
• all qualifying disclosures (prompted and unprompted) in the deliberate
behaviour/deliberate default category of tax default must state the
amounts of all liabilities to tax and interest, in respect of all
taxheads and periods, where liabilities arise, as a result of deliberate
behaviour, that were previously undisclosed
• in the case of a prompted qualifying disclosure in the careless
behaviour/gross carelessness/insufficient care category of tax
default, the qualifying disclosure must state the amounts of all
liabilities to tax and interest in respect of the relevant taxhead
and periods within the scope of the proposed audit
• in the case of an unprompted qualifying disclosure in the careless
behaviour/gross carelessness/insufficient care category of tax default,
the qualifying disclosure must state the amounts of all liabilities to
tax and interest in respect of the taxhead and periods that are the
subject of the unprompted qualifying disclosure.
2.7.1 Related Liabilities
The auditor may also pursue related liabilities for taxheads or periods that
not within the initial scope of the audit and the benefits of prompted
disclosure will be extended to these liabilities.
Accordingly, the disclosure is only required to deal with the tax(es) and period(s) that are the subject of the audit.
.
If you disclose something in one year would revenue not then be suspicious and check other years?
Do you have the new Code of practice Gekko.
If I understand you correctly it means when you disclose something incorrect on a return and they are leninent on the tax and penalties on that, later if they find something else wrong they cannot go back on the mitigation for that which you have voluntarily disclosed. But in the past if you disclosed something and they then found something else wrong all bets were off?
Do you have the new Code of practice Gekko.
If I understand you correctly it means when you disclose something incorrect on a return and they are leninent on the tax and penalties on that, later if they find something else wrong they cannot go back on the mitigation for that which you have voluntarily disclosed. But in the past if you disclosed something and they then found something else wrong all bets were off?
I'm a bit confused too. I don't see why revenue would be likely to ask you to pay tax on the costs of building your own house? Perhaps they are after the builder, who didn't declare the cheques that you paid him?
Hi, hope I'm in right place, I've been notified that revenue are to call to me requesting bank statements for two years and all details relating to my house build.
I'm a PAYE worker i hired a builder to a lot of the work but paid a lot of cash for materials for other works i did myself (painting, attic conversion, i also bought tools etc for my new man garage!!)
I'm a little worried that i dont have enough receipts to show the tax man for these bits, only because i never knew i was supposed to keep them. the builder is fine i've got all his invoices and can show the cheques that pay him.
how much can revenue demand from me?
thanks
Re to call to me
do you mean at home?
If so they will look for a lifestyle/income mismatch.
I was involved in a Residential property tax audit many years ago where my client asked me to attend when the revenue and the revenue estate agent arrived to inspect the house as my client had refused to pay the RPT based on their valuation.
I had never been in my client's house and when I arrived the first thing I saw was a Chippendale antique side board, c iep 40,000...
There were paintings etc and when the Revenue guy arrived he lost all interest in the property tax.
It cost my client 100,000
I'm a bit confused too. I don't see why revenue would be likely to ask you to pay tax on the costs of building your own house? Perhaps they are after the builder, who didn't declare the cheques that you paid him?
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