Revenue has updated the Tax and Duty Manual which provides guidance on the section 481 Film Corporation Tax Credit. The guidance has been updated to reflect the extension of the operation of the tax credit to 31 December 2028 and the increase in the expenditure cap to €125 million. It also reflects the closure of the Regional Film Development Uplift to new claims from 1 January 2024. 

Revenue has updated the Tax and Duty Manual which provides guidance on repayments and offsets of taxes and duties. The updated guidance now incorporates the contents of the previous Tax and Duty Manual which provided guidance on interest payable by Revenue. Section 2 of that guidance has also been updated to clarify who is entitled to a repayment of tax. 

Revenue has informed us that there are over 200,000 PAYE taxpayers with PAYE over/underpayments for the tax year 2020. In the coming weeks Revenue will write to them all to invite them to file a return for 2020. Taxpayers wishing to reclaim their overpayment of PAYE must file a tax return via the MyAccount facility. In the case of underpayments of PAYE, where no return is filed, Revenue intends to collect the underpayments via the PAYE system at a later date. 

Revenue has updated its website to include two instructional videos for agents. The first video outlines Revenue’s top tips for agents when they are using MyEnquiries. It has also provided an instructional video outlining how agents can change accounting periods for corporation tax on behalf of the taxpayer. 

Revenue has informed us that its Business Division is commencing a Level 1 bulk compliance project on two cohorts of taxpayer based on 2022 income tax returns. Letters will issue in the coming weeks asking taxpayers to review and amend their returns where appropriate. Revenue’s focus is on:  Taxpayers who may have claimed relief for AVC pension contributions twice (both via payroll and via their Form 11), and  Taxpayers where the turnover per the Form 11 exceeds the VAT registration threshold, but the taxpayer is not VAT registered.  

At a recent meeting of the Tax Administration Liaison Committee (TALC) Enhanced Reporting Requirements (ERR) sub-group, Revenue confirmed that the period of ‘service to support compliance’ is extended to the year end. While no penalties or audits will be imposed during 2024, from 1 July 2024 Revenue expects all employers providing reportable benefits to submit details on or before the provision of the benefit.   As of 31 May 2024 over 36,000 employers have made over 515,000 submissions totalling €566 million in respect of 522,000 employees. During this time, travel and subsistence payments were made to over 33,000 employees totalling more than €500 million.  Revenue is making contact with those employers from whom it would have expected to receive an ERR report but have not done so. Revenue’s Business Division will issue over 79,000 letters this week to remind employers of their ERR filing obligations.  Employers experiencing difficulties complying with ERR are encouraged to contact Revenue through MyEnquiries if they have any queries. Further support is available through the National Employer Helpline, which can be contacted on (01) 738 3638 between 09.30 and 13.30 Monday to Friday.  Feedback on issues or problems you experience with the new ERR reporting regime can be emailed to the Institute and we will continue to engage with Revenue through TALC. 

In Irish news, Revenue has published statistics on the Debt Warehousing Scheme, and the Department of Finance and the Department of Public Expenditure, NDP Delivery and Reform report robust tax revenues in May’s Fiscal Monitor. In UK news, HMRC has launched a mailbox which can be used by members of recognised professional bodies to report concerns about potential rogue R&D tax relief advisers, and in this week’s miscellaneous updates, HMRC has published guidance on how in-scope multinational groups can register for the UK’s Pillar Two regime. In International news, the European Commission will continue to support the work of the Platform for Tax Good Governance.  Ireland Revenue has published a detailed statistical report on the Debt Warehousing Scheme. Department of Finance and the Department of Public Expenditure, NDP Delivery and Reform report robust tax revenues in May’s Fiscal Monitor. UK Read about the process which should be followed by members of recognised professional bodies to report concerns about potential rogue R&D tax relief advisers. In this week’s miscellaneous updates, HMRC has published guidance on how in-scope multinational groups can register for the UK’s Pillar Two regime. International European Commission will continue to support the work of the Platform for Tax Good Governance. Keep up to date with all the latest Irish, UK, and international tax developments through Chartered Accountants Ireland’s Tax Newsletter. Subscribe to the Tax News by updating your preferences in MyAccount. You can also read this week’s EU exit corner here.

After discussions with the Northern Ireland Tax Committee about concerning behaviours of certain R&D tax relief advisers, the Institute contacted HMRC to suggest that a process could be developed to enable reporting of these concerns. In a recent meeting with HMRC, we were advised that a process is now available via what HMRC refer to as the Professional Bodies mailbox. The mailbox should only be used by members of a recognised tax or accountancy Professional Body to report concerns about a potential rogue R&D adviser and should not be used for any other purpose. As yet, HMRC has not specifically defined ‘recognised body’ for this purpose but has advised that Chartered Accountants Ireland falls within this.  When using this mailbox, please provide information about the potential breach only and not details of specific claims. HMRC will use this in their compliance strategy for R&D agents. Following receipt of the email, if HMRC requires any further information they will make contact with the person who made the initial report. The email address to use to make a report is wmbciandrprofessionalbodies@hmrc.gov.uk.   To date HMRC has not formally publicised this and is not planning to undertake any activity at the minute due to the pre-election period.  

In this week’s miscellaneous updates, HMRC is encouraging students to use the HMRC app to speed up student loan applications and the latest list of non-compliant employers under National Minimum Wage legislation has been published. HMRC’s latest schedule of live and recorded webinars for tax agents is available for booking. Spaces are limited, so take a look now and save your place. HMRC has also published meeting notes from the most recent Guidance Strategy Forum and guidance has now been issued on how in-scope multinational groups can register for the UK’s Pillar Two regime.  Use the HMRC app for student loan applications  HMRC is encouraging students to use the HMRC app to speed up student loan applications. With many students planning their next steps in life, those starting university in September can ‘tap the app’ to get National Insurance and tax information they need to complete their student finance applications, HMRC has said.  Anyone applying for a student loan for the 2024/25 academic year is encouraged to start their application now to get the essential details they need via the app. HMRC has produced a video to encourage students to save time by downloading the app.  Non-compliant employers named in latest National Minimum Wage list  The Department for Business and Trade has published its annual list of employers who failed to pay the National Minimum Wage (“NMW”). This year marks 25 years since the introduction of the NMW which was increased from 1 April 2024, as was the National Living Wage.   The press release accompanying the annual report explains that if workers suspect they are being underpaid, they can visit www.gov.uk/checkyourpay to find out more about what they can do. Workers can also call the acas helpline on 0300 123 1100 or visit their website for free, impartial and confidential advice or complain to HMRC at Pay and work rights helpline and complaints.  Registration for UK’s Pillar Two regime  HMRC has issued guidance on how in-scope multinational groups can register for the UK’s Pillar Two regime. Broadly, registration via HMRC’s online service is required within six months from the end of the first accounting period beginning on or after 31 December 2023 for in scope groups. This is the first phase of HMRC’s plans to ‘go live’ with the Pillar Two Top-up Taxes online service.  

In this week’s EU exit corner, we bring you the latest guidance updates and publications relevant to EU exit. The most recent Trader Support Service Bulletin is also available, and the Windsor Framework Democratic Scrutiny Committee has published its first report.  Windsor Framework Democratic Scrutiny Committee publishes first report  The Windsor Framework Democratic Scrutiny Committee has published its first report which sets out the conclusions of its inquiry into a published replacement EU act on geographical indications for wine, spirit drinks and agricultural products. The main focus of the Committee’s inquiry was on the two conditions to be satisfied for the Stormont Brake to be used. You can read more about the contents of the report in the Brexit and Beyond 3 June 2024 newsletter published by the by the Northern Ireland Assembly’s EU Affairs Team.  The Windsor Framework Democratic Scrutiny Committee is a standing committee of the Northern Ireland Assembly. The Committee’s functions include:-  Examining and considering new EU acts and replacement EU acts;  Conducting inquiries and publishing reports in relation to replacement EU acts;  Engaging with businesses, civil society, and others in relation to replacement EU acts;  Engaging with the UK Government in relation to replacement EU acts;  Engaging with Ministers of Northern Ireland departments and the NI Executive in relation to replacement EU acts; and Dealing with other matters such as legislative proposals which may become new EU acts or replacement EU acts.  Miscellaneous updated guidance etc.   Recently updated guidance, and publications relevant to EU exit are set out below:- Attending an inland border facility;  Data Element 2/3: Documents and Other Reference Codes (Union) of the Customs Declaration Service;  CDS Declaration Completion Instructions for Imports;  CDS BIRDS Declarations and Customs Clearance Request completion instructions;  Customs declarants and declaration volumes for international trade in 2023; and  Data Element 2/3 Documents and Other Reference Codes (National) of the Customs Declaration Service (CDS) 

This month’s tidbits cover an updated HMRC organisation chart and the latest fuel advisory rates. HM Revenue and Customs' organisation chart;  Advisory fuel rates;  Check genuine HMRC contact that uses more than one communication method;  Set up as a sole trader: step by step;  List of approved professional organisations and learned societies (List 3);  Disability, mental health and wellbeing at HM Revenue and Customs;  Compliance checks: Corresponding with HMRC electronically — CC/FS83;  Authorise a tax agent (64-8);  Apply for a refund of Class 2 National Insurance contributions (CA8480);  Updating your tax agent contact details with HMRC;  Register your limited company as a subcontractor or apply for gross payment status, or both;  Complaints from External Customers about the Conduct of HMRC staff Guidance;  Claim a refund of Income Tax deducted from savings and investments (R40);  Tell HMRC your company is dormant for Corporation Tax;  Named tax avoidance schemes, promoters, enablers, and suppliers;  Tell HMRC about your Employment Related Securities schemes;  Give temporary authorisation to allow HMRC to deal with your tax adviser (COMP1);  Claim to reduce payments on account;  Apply for a certificate confirming you will pay UK National Insurance when working temporarily abroad (CA3822);  Construction Industry Scheme: CIS 340;  Double Taxation Treaty Passport Scheme register;  Completing your Company Tax Return;  National Minimum Wage information for employers;  Tax-free savings newsletter 11; and  Employment Related Securities Bulletin 54 (February 2024). 

Effective dialogue between stakeholders enables informed and evidence-based policy-making. The Platform for Tax Good Governance was established in 2013 to bring together non-government and government stakeholders to tackle issues arising in the field of taxation, such as cross-border taxation, aggressive tax planning, double taxation, and double non-taxation. The Commission has decided to establish a new expert group to continue the work of the Platform for Tax Good Governance.