Taxes Consolidation Act 1997 section 530B

Notification of contract by principal

Section 530B sets out the obligations on a principal contractor to notify Revenue when entering into a relevant contract with a subcontractor under the RCT system.

• On entering a relevant contract, the principal must provide Revenue with details of the subcontractor's identity, the estimated contract value, duration and location, whether it is labour only, and a declaration that the subcontractor is not an employee.
• Before notifying Revenue, the principal must verify the subcontractor's identity by obtaining and retaining documentary evidence or recording relevant details from that evidence.
• Where a relevant contract was entered into before 1 January 2012, the principal must still submit a contract notification if any payment remains outstanding under the contract.
• Revenue is empowered to make regulations governing the electronic submission of contract notifications, acknowledgements, notifications to subcontractors, and related matters.