530R Partnerships

Summary

Section 530R introduces procedures to ensure that members of a gang, group or partnership are properly identified for the purpose of determining their individual entitlement to a credit for RCT deducted.

Details

(1) Where a relevant payment is made by a principal in respect of work carried out by a partnership then for the purposes of allocating the tax deducted, the payment is deemed to have been made to the individual partners in the proportions in which the payment is divided amongst them and the provisions of section 530P shall apply.

(2) Except where a principal makes a separate payment to each individual partner, the precedent partner shall provide to the Revenue Commissioners details of each individual partner and the proportion of tax deducted to which each partner is entitled.

(3) The Revenue Commissioners shall make regulations regarding the provision of the information referred to in subsection (2) and the steps to be taken by the Revenue Commissioners on receipt of such information.

(4) Where the principal is a partnership, all things required to be done by the principal under this Chapter shall be done by the precedent partner.

Relevant Date: Finance Act 2025