As our recession deepens increasingly many businesses are falling late with their payments.
REVENUE SETTLEMENT : Revenue have indicated that where there are genuine reasons for late payments and where a viable business can be shown to still exist , then they are prepared , under certain circumstances and subject to particular information being provided , to be sympathetic and realistic in their approach.
Moreover , they have indicated that they will allow an instalment arrangement to be entered into in such cases.
It is also possible in genuine hardship cases to have the collection of taxes due suspended or possibly written off either partially or in full.
Early and effective representation to revenue is crucial in these cases.
REVENUE JUDGEMENTS SOAR (SEPT 2010)