At John P Burke we know revenue compliance check can feel daunting, particularly for SME owners who are already managing multiple responsibilities. However, preparation and organisation can significantly reduce stress and disruption. With Revenue increasingly using data analytics and real time reporting tools, businesses must ensure their records and processes are consistently accurate.

The first step is maintaining complete and up to date records. Sales invoices, purchase invoices, payroll records, bank statements and expense documentation should be organised and easily accessible. Digital record keeping systems can simplify retrieval and reduce the risk of missing information. Regular reconciliation between your accounting software and bank accounts is essential.

VAT compliance is a common focus during checks. Ensure that VAT returns match underlying records and that rates have been applied correctly. Verify that all input VAT claims are supported by valid supplier invoices. Cross border transactions require particular attention, as incorrect treatment can trigger further scrutiny.

Payroll reporting is another key area. PAYE submissions must be accurate and submitted on time. Employers should confirm that gross pay, deductions and employer contributions align with payroll records and bank payments. Inconsistencies in payroll data can quickly raise questions.

Corporation tax filings should also be reviewed in advance. Confirm that profit figures correspond with management accounts and that all reliefs claimed are properly documented. If estimates or provisional figures were used, ensure they were subsequently adjusted where necessary.

It is advisable to conduct an internal review before any official contact. A proactive compliance health check can identify weaknesses and allow corrective action before issues escalate. Addressing discrepancies voluntarily is often viewed more favourably than reacting under pressure.

Communication is equally important. If Revenue initiates contact, respond promptly and professionally. Provide requested documentation within the specified timeframe and keep clear records of all correspondence. Engaging your accountant early ensures that responses are accurate and appropriately structured.

Finally, consider ongoing compliance training for staff responsible for invoicing, payroll and bookkeeping. Many errors arise from misunderstanding rather than intent. Clear procedures and regular updates reduce risk.

A Revenue compliance check does not need to be disruptive. Businesses that maintain strong financial controls and review their records regularly are far better positioned to navigate the process confidently.

Disclaimer: This article is based on publicly available information and is intended for general guidance only. While every effort has been made to ensure accuracy at the time of publication, details may change and errors may occur. This content does not constitute financial, legal or professional advice. Readers should seek appropriate professional guidance before making decisions. Neither the publisher nor the authors accept liability for any loss arising from reliance on this material.

 

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