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Revenue applied attachement to Bank Account < 1k

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  • 24-01-2020 12:26am
    #1
    Buttercake
    Registered Users Posts: 539 ✭✭✭


    Hi folks

    Im not an accountant, a small business owner. I have a debt with Revenue for 995 euro that was unpaid vat return for Sept/Oct 2019. A demand letter was sent and I havent made payment yet or contacted them

    My bank account and credit card was frozen with an attachement, I only realised it now trying to make an online payment. I didn't get any notifications from Revenue or my bank.

    I think its a bit much applying an attachments for my latest vat return and the rules on the revenue website are attachments are only for debts of more than 1k

    Can I argue that it should not have been applied?


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    #2
    fritzelly
    Registered Users Posts: 17,278 ✭✭✭✭fritzelly


    Buttercake wrote: »
    A demand letter was sent and I havent made payment yet or contacted them
    Buttercake wrote: »
    I didn't get any notifications from Revenue or my bank.

    Which is it?
    For a start they send a final demand warning you.
    You say 995 - is there penalties/interest on top

    The bank or any other financial institution will not inform you if Revenue apply an attachment - they just freeze your assets until Revenue advise them they can release them

    The debt needs paying, only then will they inform the bank they can release the hold


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    #3
    Buttercake
    Registered Users Posts: 539 ✭✭✭Buttercake


    fritzelly wrote: »
    Which is it?
    For a start they send a final demand warning you.
    You say 995 - is there penalties/interest on top

    The bank or any other financial institution will not inform you if Revenue apply an attachment - they just freeze your assets until Revenue advise them they can release them

    The debt needs paying, only then will they inform the bank they can release the hold

    Thanks, I only got the final demand letter. The amount is including interest. I understand the debt needs to be repaid. My query was the amount is less than the amount is less than 1k.

    From Revenue.ie

    debt made up of tax, interest and/or penalties due to Revenue may be the subject of a Notice of Attachment. The minimum debt for the use of a general attachment is €1,000 and in the case of an attachment of wages and salary it is €10,000


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    #4
    sasta le
    Banned (with Prison Access) Posts: 1,586 ✭✭✭sasta le


    Wow that is OTT
    Alot of small business wouldnt have the instant knowledge
    Pity they can freeze criminals assets as fast


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    #5
    Buttercake
    Registered Users Posts: 539 ✭✭✭Buttercake


    sasta le wrote: »
    Wow that is OTT
    Alot of small business wouldnt have the instant knowledge
    Pity they can freeze criminals assets as fast

    That's what i was thinking..


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    #6
    Tina82
    Registered Users Posts: 106 ✭✭Tina82


    i would advise you to contact the name on the final demand letter asap. whatever money was in the account up to €995 will be taken and paid over to revenue. if you make contact they are fairly reasonable and you could come up with a payment plan.


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    #7
    Tow
    Registered Users Posts: 6,584 ✭✭✭Tow


    Revenue apply interest on compound daily ate. It would not take long for €995 to reach €1000

    From a few years ago:
    PAYE/PRSI/USC/LPT, VAT and RCT - 0.0274%
    https://www.revenue.ie/en/tax-professionals/tdm/collection/debt-management/guidelines-for-charging-interest-on-late-payment.pdf

    When is the money (including lost growth) Michael Noonan took in the Pension Levy going to be paid back?



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    #8
    PaybackPayroll
    Registered Users Posts: 127 ✭✭PaybackPayroll


    Wow - that seems pretty harsh. An attachment order from a 3 month debt. I wonder is this an error, especially if you do not have a history of non-compliance?

    It would concern me giving the Revenue bank account details. For many businesses, a frozen bank account could cause irreparable damage. For example, loss of website hosting.


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    #9
    Buttercake
    Registered Users Posts: 539 ✭✭✭Buttercake


    Tow wrote: »
    Revenue apply interest on compound daily ate. It would not take long for €995 to reach €1000

    From a few years ago:

    Yes but at the date of sanctioning the attachment (3 weeks ago) the amount was less than 1k, it might be 5-10 euro out but its still less than the regulation
    PaybackPayroll wrote: »
    Wow - that seems pretty harsh. An attachment order from a 3 month debt. I wonder is this an error, especially if you do not have a history of non-compliance?

    It would concern me giving the Revenue bank account details. For many businesses, a frozen bank account could cause irreparable damage. For example, loss of website hosting.

    This is the only debt i have with them, thing is i dont think the company bank details are on ROS. I normally pay any debits by debit/credit card, I never use direct debit


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