Taxes Consolidation Act 1997 section 530K

Return by principal

Section 530K requires a principal contractor to file an electronic return of all relevant payments made to subcontractors during a return period and to pay the related RCT liability.

• A principal must file an electronic return with the Collector-General, on or before the due date, detailing all relevant payments made during the return period and specifying the RCT liability arising.
• Where Revenue have issued a deduction summary for the period, that summary is automatically treated as the principal's return and the tax shown on it is treated as the amount due, unless the principal is required to amend the summary details and file a corrected return.
• The RCT liability specified on a return, whether actually filed or deemed to have been filed by way of a deduction summary, is due and payable by the principal to Revenue.
• Revenue may make regulations governing how principals communicate electronically, the particulars to be included in returns, the principal's obligation to ensure payments and related tax are accurately reflected, notification to subcontractors of actions taken, and any other related matters.