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Revenue to review customers with lower annual turnovers on a more regular basis

  April 2, 2019    Finances,Taxes    adm

The introduction of a new system to Revenue called Debt Management Services  (DMS) will give Revenue the opportunity to review smaller companies with low annual turnovers on a more regular basis.

In the past, many of these companies were considered too small and therefore too costly to review on a regular basis.  However, the introduction of a new high tech system will allow Revenue to tackle non compliance and review a greater number of  customers than was possible in the past.

The introduction of the new technology is intended to facilitate more flexibility for phased repayments which will hopefully relieve pressure on smaller businesses owing debt to the Revenue Commissioners.   Debts to Revenue comprise of taxes paid on an annual basis such as corporation tax and self assessment income tax returns and taxes paid at regular intervals such as VAT and PAYE.

The new debt management system is online and allows for all documentation to be uploaded to Revenue meaning information can be promptly clarified and processed on a timely basis.

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The new PAYE Modernisation regime will be operational for all employee payments being made from 1 January 2019. To prepare, you must submit a list of employees to Revenue by 31 October. Join us for a step by step workshop to get a better understanding of the new system.

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