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Unreported RCT payment

  • 15-08-2017 10:24am
    #1
    Heisenburg81
    Closed Accounts Posts: 322 ✭✭


    Hello All,
    Apologies if raised before but I don't seem to be able to locate.
    If, for example an unreported RCT payment exists in the sum of €10,000 to a 20% subcontractor which of the following (ignoring penalties) is the treatment adopted by Revenue;
    (1) RCT due on €12,500 * 20% (€10,000 treated as the net payment)
    OR
    (2) RCT due on €10,000 * 20%

    If (1) is the correct treatment can you withhold payment on future invoices from the subcontractor to recoup the additional funds they will receive through RCT Credits?


Comments

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


    If you didn't report the payment at the time you click the button on the ros website to say you are registering the payment in arrears and you didnt deduct anything when you do report the payment.


  • #3
    Heisenburg81
    Closed Accounts Posts: 322 ✭✭Heisenburg81


    CIARAN_BOYLE wrote: »
    If you didn't report the payment at the time you click the button on the ros website to say you are registering the payment in arrears and you didnt deduct anything when you do report the payment.

    So its treated as net and re grossed?


  • #4
    Heisenburg81
    Closed Accounts Posts: 322 ✭✭Heisenburg81


    Heisenburg81 wrote: »
    So its treated as net and re grossed?

    Bump


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