Principal contractors are required to submit monthly RCT 30 forms (including a NIL return if appropriate) to the Collector Generals Office, together with the related tax which they have deducted from subcontractors. The RCT 30 form now takes the form of a declaration with a payslip and it is no longer necessary to submit copies of the related RCTDCs (relevant contracts tax deduction certificates) to the Collector Generals Office.
The statutory basis of collection and recovery of RCT has been changed to a monthly basis from an annual basis. The Revenue are now empowered to raise RCT estimates on Principals who have not submitted RCT 30s for any month. It is no longer necessary in the following circumstances for Certificates of Authorization (i.e. Forms C2) to be presented in person by subcontractors to their Principals:-
- Where the subcontractor nominates a bank account into which the Principal will make all payments where the Principals contractor already holds a payments card in relation to the subcontractor and the contract was ongoing at the end of the previous tax year.
- Subcontractors can now appeal the withdrawal of a Certificate of Authorization (form C2) by the Revenue Commissioners during the year in which it was withdrawn. However, the Form C2 will remain withdrawn pending the Appeal Commissioners decision.
If you require more information please consult your tax advisor or email us at tax@fixmytax.com. |
