PART 5 Returns and Adjustment to Liability

Source

Income and corporation tax regulations 2010.

8 Returns

(1) A return required under section 530K(1) of the Act and a return referred to in sections 530M(1) and 530N(7)(a) of the Act shall only be made using the RCT service.

(2) Where a deduction summary is issued to a principal under section 530D(3) of the Act and the details on that deduction summary do not accurately reflect all relevant payments made by the principal relating to the return period concerned or the liability of the principal to tax on those payments, the principal shall ensure that all relevant payments relating to the return period and the associated tax liability are accurately reflected on the return required under section 530K(1) of the Act, and paragraphs (3) to (9) shall apply.

(3) Subject to paragraph (4) and Regulation 5(4), where a payment notified to the Revenue Commissioners during a return period under section 530C of the Act is not made by the earlier of—

(a) the due date relating to the return period within which it was notified, and

(b) the making by the principal concerned of the return for the return period in which the payment was notified,

the principal shall cancel the line item concerned and reflect the fact that the payment has not been made on the return for that return period.

(4) Where a payment is made to a subcontractor for relevant operations in respect of which a payment notification is given, and the amount of the payment differs from the amount specified in the payment notification due to exceptional circumstances unforeseen at the time of the notification, the principal shall, if the principal has deducted tax from the full amount of the payment at the rate specified on the related deduction authorisation, amend the line item concerned and declare the correct amount of the payment on the return to be made for the return period concerned.

(5) (a) Where a payment is made, in accordance with the terms of a valid deduction authorisation, in the return period following the return period during which that deduction authorisation was issued and before the making of the return by the principal in respect of the return period during which that deduction authorisation was issued, the principal shall ensure that this fact is reflected on that return.

(b) The liability of a principal relating to payment under subparagraph (a) shall be a liability of the return period following the return period in which the deduction authorisation concerned was issued.

(6) All line items on a deduction summary which are not cancelled under paragraph (3), or amended under paragraph (4), or to which paragraph (5) does not apply, shall form part of the return under section 530K(1) of the Act.

(7) A principal shall not be entitled to—

(a) cancel a line item under paragraph (3),

(b) amend a line item under paragraph (4), or

(c) take action under paragraph (5),

after the principal makes a return in respect of a relevant return period, or is deemed to have made such a return in accordance with section 530K(2) of the Act.

(8) A principal shall declare the aggregate amount of all relevant payments to which section 530F(2) of the Act applies, but excluding any payments referred to in paragraph (4), on the return for the return period during which the payments were made.

(9) Where a line item is cancelled under paragraph (3) or amended under paragraph (4), and where the relevant deduction authorisation indicated that tax was to be deducted from the relevant payment, the Revenue Commissioners shall, by electronic or other means, notify the relevant subcontractor of such cancellation or amendment.

9 Adjustment to liability

(1) An unreported payment notification required to be provided by a principal to the Revenue Commissioners under Section 530F(3) of the Act shall be provided using the appropriate portal of the RCT service.

(2) For the purposes of paragraph (1) details of the following matters shall be included in an unreported payment notification:

(a) the identity of the subcontractor, including name and tax reference number;

(b) identification of the contract to which the payment relates;

(c) the amount of the relevant payment;

(d) the date the relevant payment was made;

(e) such other information as may be required by the RCT service.

Amendments

Income Tax and Corporation Tax (Relevant Contracts Tax) (Amendment) Regulations 2015 (S.I. 5/2015) reg 2(b).