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Revenue Audit in June.

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    #32
    relax carry on
    Registered Users Posts: 4,081 ✭✭✭relax carry on


    BrowmThomas wrote: »
    Hi Jarvis,

    I have gone back through my records and sent on anything (receipts) extra that I found. My accountant has staff doing exams at the moment so they are a bit slow getting back to me but all seems ok on both sides. I have to be available the week before for any questions that may arise.

    It's not until June 3rd. I want it to be over!!

    Will report back when it is over.

    At least you are preparing for it. The last thing an auditor wants to see is someone who hasn't bothered to prepare. Just ensure your records are in order and all original supporting documentation is available on the day to back up your returns. Any anomalies or errors discovered should be included in a valid disclosure on the day.


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    #33
    BrowmThomas
    Registered Users Posts: 206 ✭✭BrowmThomas


    Think everything is ready - will know for sure next week ��


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    #34
    BattleReady
    Banned (with Prison Access) Posts: 45 ✭BattleReady


    Good Luck with it. Nerve racking stuff. I went through it myself about 3 years ago.


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    #35
    BrowmThomas
    Registered Users Posts: 206 ✭✭BrowmThomas


    Thanks BattleReady, dreading it but will be over by this time next week!!

    Does it take long for them to get back to you - am sure there is nothing they can find that is owed to them but just don't know what they pick up on.


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    #36
    BattleReady
    Banned (with Prison Access) Posts: 45 ✭BattleReady


    They were fairly nice during the audit, but I was shaking like a leaf offering them tea and biscuits.

    thought that was it, but they asked for a lot of followup information and took over a month for them to finally send out a letter to say the audit had been closed.

    You'll be ok once your accountant has gone through everything and he/says you are good.

    it's still a relief to get that letter though


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    #37
    BrowmThomas
    Registered Users Posts: 206 ✭✭BrowmThomas


    A month �� I didn't think it would take that length!!!

    My accountant warned me to give yes no answers and not to be nice - that's not me, I'm just not like that.

    Here's hoping all will be sorted in a month so!


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    #38
    BattleReady
    Banned (with Prison Access) Posts: 45 ✭BattleReady


    BrowmThomas wrote:
    My accountant warned me to give yes no answers and not to be nice - that's not me, I'm just not like that.

    BrowmThomas wrote:
    A month I didn't think it would take that length!!!

    BrowmThomas wrote:
    Here's hoping all will be sorted in a month so!


    Got exactly the same advice, it's very hard to do though, I was the same.

    It might not take that long if they are happy with everything.


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    #39
    BrowmThomas
    Registered Users Posts: 206 ✭✭BrowmThomas


    Fingers crossed.

    It's good to know that others have been through it - and that it wasn't THAT bad.

    Things have really picked up since I got the letter aswell!


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    #40
    BrowmThomas
    Registered Users Posts: 206 ✭✭BrowmThomas


    So its over ��
    Seemed to go ok - could answer everything and was told they will contact me in due course....hoping that's a good sign!!


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    #41
    dbran
    Registered Users Posts: 2,094 ✭✭✭dbran


    BrowmThomas wrote: »
    So its over ��
    Seemed to go ok - could answer everything and was told they will contact me in due course....hoping that's a good sign!!

    Yep. I think you would be having quite a different conversation if there was something amiss.

    Best Regards


    Dbran


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    #42
    BrowmThomas
    Registered Users Posts: 206 ✭✭BrowmThomas


    Thanks Dbran - it was over in an hour but I won't relax until I get the reply. It's a huge weight off me.

    Thanks :-)


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    #43
    BattleReady
    Banned (with Prison Access) Posts: 45 ✭BattleReady


    Glad to hear it went well. Good luck with it all


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    #44
    JMR
    Registered Users Posts: 633 ✭✭✭JMR


    BrowmThomas wrote: »
    Thanks Dbran - it was over in an hour but I won't relax until I get the reply. It's a huge weight off me.

    Thanks :-)

    Great stuff, well done!


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    #45
    BrowmThomas
    Registered Users Posts: 206 ✭✭BrowmThomas


    Thanks JMR - and thanks for your advice too :-)


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    #46
    Spanish Eyes
    Registered Users Posts: 15,969 ✭✭✭✭Spanish Eyes


    Random audits DO happen.

    It is a sort of control measure against the targeted REAP audits.

    It would be ridiculous if REAP was the only method really. People can file on time, have regular and similar income and so on. So they would not appear on REAP

    But some could be hiding something!

    Randoms are there for a reason.


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    #47
    jcon1913
    Registered Users Posts: 803 ✭✭✭jcon1913


    Spanish Eyes wrote: »
    Random audits DO happen.

    It is a sort of control measure against the targeted REAP audits.

    It would be ridiculous if REAP was the only method really. People can file on time, have regular and similar income and so on. So they would not appear on REAP

    But some could be hiding something!

    Randoms are there for a reason.

    Do you have a source for this opinion?


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    #48
    relax carry on
    Registered Users Posts: 4,081 ✭✭✭relax carry on


    jcon1913 wrote: »
    Do you have a source for this opinion?

    Its in the code of practice.

    http://www.revenue.ie/en/practitioner/code-of-practice-revenue-audit.pdf

    The objectives of the Random Audit Programme are to measure and track compliance with tax legislation, to act as an indicator of the effectiveness of Revenue’s risk based approachand to provide for the possibility that all taxpayers may be selected for a Revenue Audit.


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    #49
    dbran
    Registered Users Posts: 2,094 ✭✭✭dbran


    Hi

    They do happen but are only about 5% of the total audits carried out by revenue. So you could be very unlucky and be part of the 5% or more likely you have sent in something that has come to revenues attention.

    dbran


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    #50
    jcon1913
    Registered Users Posts: 803 ✭✭✭jcon1913


    dbran wrote: »
    Hi

    They do happen but are only about 5% of the total audits carried out by revenue. So you could be very unlucky and be part of the 5% or more likely you have sent in something that has come to revenues attention.

    dbran

    Yes thats the Code of Practice, have you ever seen a random audit?


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    #51
    _Tombstone_
    Closed Accounts Posts: 3,006 ✭✭✭_Tombstone_


    jcon1913 wrote: »
    Yes thats the Code of Practice, have you ever seen a random audit?


    awkward much?


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