Taxes Consolidation Act 1997 section 904F

Power of inspection: claims by qualifying lenders

Section 904F empowers authorised Revenue officers to enter the premises of qualifying mortgage lenders and audit claims made under the tax relief at source (TRS) scheme for mortgage interest.

• An authorised officer may enter a qualifying lender's premises at any reasonable time to audit TRS repayment claims, examine verification procedures, and check a sample of individual cases.
• The officer may require the lender or its employees to produce all books, records and documents — whether physical or electronic — and to provide information, explanations and reasonable assistance.
• The officer may make extracts from or copies of any records inspected, and must produce written proof of authorisation if asked to do so.
• An employee who fails to cooperate faces a penalty of €1,265, while the lender itself faces a penalty of €19,045 plus €2,535 for each day the non-compliance continues.