As you will no doubt be aware, compliance risks in the construction sector are currently a key focus of Revenue. Given the increased Revenue activity in this area of late, it is opportune to consider how best to avoid the common tax pitfalls in this sector. One area which continues to cause complexities is in the area of Relevant Contracts Tax (RCT).
The emphasis in this article is on the aspects of RCT which have been identified as creating costly mistakes for the unwary, and we have deliberately not delved into the minutiae of the operation of RCT.
First published in Tax Point Journal November 2016