Revenue’s Business Division Level 1 Compliance Project
Revenue’s Business Division Level 1 Compliance Project
Amanda Souza
Revenue has announced the launch of a Level 1 bulk compliance project targeting two specific taxpayer cohorts based on their 2022 income tax returns. In the coming weeks, affected taxpayers will receive letters asking them to review and amend their returns if necessary. The focus areas are:
- Double-Claimed Relief for AVC Pension Contributions: Taxpayers who may have claimed relief for Additional Voluntary Contributions (AVC) to pensions both via payroll and through their Form 11.
- Turnover Exceeding VAT Registration Threshold: Taxpayers whose reported turnover on Form 11 exceeds the VAT registration threshold but are not VAT registered.
Taxpayers should review their returns to ensure compliance and avoid potential penalties.
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