Tax

Relevant Contracts Tax

By:

Jarlath O'Keefe,

Kevin Devenney,

Janette Maxwell

13 Sep 20221 min read

As a principle contractor, are you ready for a potential Revenue Audit?

Contents

Key Administrative Steps

There are many responsibilities for principles to undertake to ensure they are fully compliant when operating RCT on payments to sub contractors. These steps to be undertaken by a principle to achieve compliance in the area as follows:

Register for RCT on Revenue's Online Service (ROS)

Notify Revenue of each contract (Contract Notification]

Create a Site Identifier Number (SIN)

Notify Revenue of the payment to be made to a sub-contractor (Payment Notification)

Await issuance of a Deduction Authorisation by the Revenue

Provide a copy of the Payment Notification Acknowledgement to the sub-contractor

Await receipt of the Deduction Summary at the end of each month and carefully review this Summary to ensure accuracy

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