VAT / PAYE / RCT
VAT
Revenue are becoming more technologically advanced each year and with that brings the opportunity to ensure higher levels of compliance. Our experience is 99% of organisations whether small or large wish to be compliant and this is where we can help.
Very often the problem is companies pay too much VAT – by not processing VAT on their visa expenses, or not claiming on motor fuel vat. If you do not have the purchase invoice in your possession you cannot claim the vat, we chase these documents for you to ensure all VAT is claimed. Should you have an audit, you will be sure you only claimed the correct VAT on purchases but you also paid VAT liabilities on time. Call to discuss how we can help keep you up to date.
PAYE
PAYE can add up quickly and become a cashflow challenge if you do not religiously pay each month. Many revenue clients remit a standing order for PAYE which is fantastic, however it can become a problem when the economy is starting to recover and you commence hiring again, perhaps neglect to increase your direct debit for PAYE.
As your agent we can submit your PAYE returns whether monthly, quarterly or annually and ensure one worry is removed from your business life – touch base with us.
When PAYE is owed, Revenue will charge interest and penalties. Once a charge to interest arises, the interest is always payable in full and Revenue cannot mitigate or reduce that interest charge. The rate of interest to be applied at present is 0.0219% per day on the balance outstanding, as set out in Section 1080(2)(c) of the Taxes Consolidation Act (TCA) 1997.
Compliance ensures one can concentrate on business rather than worrying about PAYE, VAT and RCT liabilities.
RCT (Relevant Contracts Tax)
Those of you involved in Construction, forestry or meat processing will be familiar with the monthly submission of online RCT submissions. Finance Services assist particularly the large number of small building and trade principal and sub-contractors to submit their online returns and payments. We also handle contract notification and payment notifications.
We understand you are on the road a lot and often need to just make the ‘phone call knowing that sub-contractor payments will be made immediately – Friday afternoon is always a busy time. Call us for help with RCT.