Revenue News, February 2011

Friday, February 18, 2011

by Nick Ryan

Revenue target hot food sales by retailer grocers: We have heard that Revenue have targeted a number of retail grocers paying particular focus of the sales made of hot cooked food. Our sources suggest that the VAT liability applied by those visited has been challenged by Revenue and assessments are being mooted.
Relevant Contracts Tax: e-brief no 03/2011: provides clarity on the operation of RCT in liquidation, receivership or examinership. The e-brief confirms that there is no exemption in operation of RCT where a receiver, liquidator or examiner has been appointed to the sub-contractor. The principal is still required to operate RCT as normal. There is though a requirement to distinguish the position for the management of RCT on contracts between those entered into post appointment and those in progress prior to appointment. The loiquidator/receiver must ensure thet can clearly show when the contract was entered into in order to support how the RCT was dealt with for offsetting purposes.

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