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Revenue.ie letters being sent to 500,000 self assessment individuals for 2015 tax yea

  • 22-02-2017 11:43am
    #1
    Viscount Aggro
    Registered Users, Registered Users 2 Posts: 1,339 ✭✭✭


    Reading about this in the media today. This makes my blood boil.
    You can read anything into it. Sort of letter that is open to challenge.
    Nasty and accusative tone to it - I guess its designed to unnerve people and cause a reaction.
    I can see the letter on their website. I am expecting to receive it anyday.
    Its going stright into the garbage.


Comments

  • #2
    gerrybbadd
    Registered Users, Registered Users 2 Posts: 10,301 ✭✭✭✭gerrybbadd


    Viscount Aggro wrote: »
    Reading about this in the media today. This makes my blood boil.
    You can read anything into it. Sort of letter that is open to challenge.
    Nasty and accusative tone to it - I guess its designed to unnerve people and cause a reaction.
    I can see the letter on their website. I am expecting to receive it anyday.
    Its going stright into the garbage.

    I don't see the problem with the letter. It's advising people of a change to the Code of Practise.

    If people weren't advised of the changes, sure they'd be up in arms over that as well.
    Damned if you do, damned if you don't it seems


  • #3
    CIARAN_BOYLE
    Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    Honest disclosure of changes to the rules regarding foreign assets. Thank god my current accountancy job is audit based rather than a mix of audit and tax. Otherwise I would have to explain the letter to 100 clients.


  • #4
    Viscount Aggro
    Registered Users, Registered Users 2 Posts: 1,339 ✭✭✭Viscount Aggro


    Sorry for being thick - what is a code of practice, and how does it affect me?


  • #5
    CIARAN_BOYLE
    Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    Viscount Aggro wrote: »
    Sorry for being thick - what is a code of practice, and how does it affect me?
    Its Revenue's rules.
    If you have no foreign income that aren't in your tax return it has no effect on you.
    At the moment if you have foreign income subject to tax not disclosed and you want to disclose if you can make an unprompted voluntary disclosure and pay a minimal penalty (something like 3%). They are changing the rules regarding penalties so that if you want to correct foreign earnings misreported to revenue you won't be able to make an unprompted voluntary disclosure and will have a larger penalty(probably 20% to 30%).

    So the rules are changing and revenue are telling you. Revenue are also telling you that foreign tax collectors are going to give Revenue more information so if you have undisclosed foreign earnings you are going to be caught.


  • #6
    Delacent
    Closed Accounts Posts: 214 ✭✭Delacent


    Viscount Aggro wrote: »
    Reading about this in the media today. This makes my blood boil.
    You can read anything into it. Sort of letter that is open to challenge.
    Nasty and accusative tone to it - I guess its designed to unnerve people and cause a reaction.
    I can see the letter on their website. I am expecting to receive it anyday.
    Its going stright into the garbage.

    You need to realise that almost all media and in particular the rag tabloids and indo work on fear. Never ever ever believe the utter sh1te headlines they write as they are there to stoke fear in you for no reason whasoever except to get you to read the article for them to sell ads alongside.

    A good example is that in Britain the publics number one fear is ISIS.

    To date not one death has been attributed to ISIS in UK.

    However 8 people died due from drowning in their bath last year!

    So in theory having a bath is far more dangerous to your life than ISIS!


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