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REVENUE ON-LINE SERVICE (ROS) Latest ROS collects £700m No requirement to file returns any tax balance due on to use ROS assessments. In the nine months since the Phases 4, 5 and 6, for delivery in Revenue On-Line Service (ROS) However, apart from the access to 2002, are well into the planning stage went live last September payments of Revenue which ROS provides almost £700 million have been made outside office hours there are other and details of what will be included will be covered in future issues of to Revenue by customers using the key features of the service which are new service. ROS customers have proving popular with our customers. Tax Briefing. These include: also received repayments of £30m. The goal of making the Revenue The receipts have far exceeded our n On-line access to VAT and On-Line Service the primary way by expectations of £50m. in the first year Employer PAYE details including which our customers do business of operations and if the trend returns made and outstanding, and with us is well on the way to continues ROS customers will payments due or received. This becoming a reality. account for about 5% of gross will be extended in October to receipts by Revenue this year. include Income Tax, Corporation New Strategy Manager Tax and Capital Gains Tax (CGT) Revenue recently announced the Almost 3,000 customers now use details. To date, there have been appointment of a new Strategy ROS on a regular basis and this 6,460 requests from ROS number is increasing by about eighty Manager to take over from John customers for access to this Leamy who has been appointed each week. When Phase 3 goes live information. next October with the on-line filing Assistant Secretary in the Office of the Chief Inspector of Taxes. She is of Income Tax (IT) and Corporation n An access security system for Margaret Whelan who served most Tax (CT) returns we believe we will managing user-rights of staff recently in the Compliance Policy be well on our way to achieving our within a business or tax practice. Unit of the Chief Inspector’s Office. target of getting 50% of business This allows the ‘administrator’ in Margaret has now taken up duty in returns filed electronically by 2005. a business or practice decide who ROS and can be contacted at among the staff can view certain 01-2090401 or by e-mail at Revenue customers and tax details or file particular returns. practitioners now have a quick and [email protected]. secure method for the electronic There is no requirement to file returns ccounts Information filing of: to have access to these facilities. A When Phase 3 goes live, the t Monthly PAYE Returns (P30) ROS is also available to Apple Mac requirement to file paper copies of t Bi-monthly VAT Returns (VAT3) users and is compatible with screen accounts and computations with IT readers for visually impaired and CT returns which are filed t Annual Payroll tax Returns (P35 customers. ROS can be accessed via and P35L) through ROS will no longer apply. the Revenue website at www.revenue.ie However, we still require certain t Employee Cessation Returns and the ROS help-desk is available accounts information to support the (P45) from 8.30a.m. to 6.30p.m. Monday details provided on the return. t Annual Return of Trading Details to Friday at 1890-201106 or by (RTD) e-mail: [email protected] In order to ensure equality of treatment between paper and They also receive immediate Also in Phase 3 electronic filers, the Revenue Board acknowledgement of receipt of Apart from eFiling CT and IT announced last October that paper returns by ROS. From October they returns and providing access to IT, filers would be required, as of a will also be able to file Income Tax CT and CGT details Phase 3 will certain date, to submit the same level (Form 11) and Corporation Tax also include: and format of data as electronic filers. (CT1) returns. u An option for the electronic Electronic data would not be payment of tax by Laser Card and subjected to electronic interrogation until the same data from paper filers u A facility for the payment of was captured. Preliminary Tax and payment of Continued on page 14 13 ROS Continued from page 13 The fundamentals of what has been decided so far are summarised in the following table: Turnover < £250,000 Turnover < £10m. • Accounts Menu of 25 key items • 3 IT menus • Adjusted profit computation of no more • 3 CT menus than 5/6 items in IT cases and 10 items in CT cases. [These menus are: (i) General trades/ services (IT & CT) Electronic Filers (ii) Professionals (IT & CT) (iii) Farmer (IT) Construction / manufacturing (CT)] • Adjusted profit computation of 12 items approximately in IT cases and 25 items in CT cases. • Paper accounts with computations and • Paper accounts with computations and schedules as at present until October schedules as at present until October 2003 2003 • Accounts Menus and adjusted profit OR computations as for electronic filers from October 2003 • Accounts Menu of 25 key items and Paper Filers • Adjusted profit computation of no more than 5/6 items in IT cases and 10 items in CT cases. The menu will be compulsory from The menus will be compulsory from October 2003 October 2003 All Filers with Paper accounts with computations and schedules as at present turnovers over £10m. Individual partners can file electronically with no requirement for menu completion. Partnerships Paper accounts with computations and schedules must be filed with Form1 (Firms). Groups As for other filers. The consolidated turnover decides category. Note: Accounts Menus for paper filers will be available on request from all tax offices from October 2002 We will also be providing a series of yes/no ‘tick’ boxes to cater for notes to the accounts. These notes will cover: n Reservations in the Auditor’s Certificate/Report n Accounting policy and change of accounting policies n Change in nature of the Company’s/business’ activities n Prior year adjustments n Exceptional items arising during the year A small area of white space will be provided where any additional explanations to the yes/no answer s can be provided, if necessary. 14 ROS Consultation on the Revenue website in due rates, for example, will be made course. available on a regular basis. Menus Last April we published a Assurances Allowing groups file through ROS consultation document on accounts Revenue is also providing assurances and the provision of some white information and representations have on the following: space in relation to expressions of doubt and the notes to the accounts been received from, and several n Innocent transposition errors will meetings had with, the also followed representations made. not lead to additional liabilities or representatives of tax practitioners penalties provided they are Internal and external consultation on and individual practitioners rectified within a reasonable what accounts information should be themselves. Submissions and period (e.g. 2 months from date of comments were also received from captured has been ongoing for some assessment) and do not amount to time now. This will be a continuous several software companies. an abuse of the system. process to ensure we get the balance right between customer service, ROS Both practitioner and software inputs n Subject to any legislative changes ease of use and Revenue audit are crucial to the success of ROS and and any other imperatives, the requirements. to address some of their concerns the accounts menus will remain the turnover limit between smaller and same and 12 months notice of any Software Houses larger menus was increased from changes will be given. £150,000 to £250,000, a single menu Revenue recognises the requirements of only 25 items is being provided for n The threshold levels will be of practitioners that 3rd party those below that turnover, and the indexed for inflation. software will be available to automate menus for those filing above the the process of completing the n There will be flexibility in regard turnover have been reduced in size. accounts menus. Consultations with to marginal movements across In addition the date from which the software houses is on-going with a thresholds menus will have to be completed by view to having appropriate software paper filers was put back by a year In addition, statistical data from available as soon as it can be from October 2002 to October 2003. accounts data captured, such as error developed. z Copies of the menus will be posted REVERSE PREMIUMS Tax Treatment The Minister for Finance, Mr. a rent which is above the market avoidance opportunities with Charlie McCreevy, T.D., announced value rent. While there are specific consequential loss to the Exchequer. on 7 June 2001 that he intends provisions in the tax code relating to bringing forward legislation in the the payment of premiums by a tenant The Finance Bill 2002 will accordingly Finance Bill 2002 to clarify the tax to a landlord, there are no such provide clearly that: treatment of so-called “reverse specific provisions governing the tax n Reverse premiums received on or premiums”. The legislation will have treatment of reverse premiums, so after 7 June 2001 will be charged retrospective effect as and from the correct treatment has up to now to tax as a revenue (as opposed to a 7 June 2001. The Minister said that it depended on general tax principles. capital) receipt has recently come to the attention of the Revenue Commissioners that Some doubts have been raised in n In effect the reverse premium will reverse premiums are being used for recent years about the application of be treated as a receipt of either a tax avoidance purposes and he was general tax principles to reverse trade/profession or a rental acting in the light of this to announce premiums.

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