Tradesmen: Revenue Big Brother Is Watching You

Revenue have recently used aggregated data from their electronic Relevant Contracts Tax (eRCT) system, to monitor and adjust the tax compliance rating of thousands of construction tradesmen and other sub-contractors.

The eRCT system came into operation on 1st January 2012, and applies to contractors in the construction, forestry and meat processing sectors.

It enables Revenue to pre-approve payments to sub-contractors, and have tax deducted from these payments.

Contractors must use the Revenue ROS platform to notify Revenue of each individual payment to their sub-contractors.

Depending on each sub-contractor’s individual tax record, Revenue will instruct their contractor to deduct zero, 20% or 35% tax from each gross payment.

RCT eRCTLast Friday, 21 February, Revenue conducted a “Bulk Rate Review” of their eRCT data, and have now used the results of this review to upgrade or downgrade the tax compliance rating of 19,130 sub-contractors.

There are 3 ratings used:

  • No tax deduction will apply where a subcontractor is fully compliant with his/her tax obligations
  • A 20% deduction will apply where a subcontractor is “substantially compliant”, and
  • a 35% deduction rate will apply where the subcontractor is unknown to Revenue or has outstanding tax compliance issues.

Revenue are now writing to affected sub-contractors to notify them of the changes to their eRCT ratings.

Meanwhile, in today’s Revenue eBrief, Revenue also confirmed that sub-contractors on the 35% deduction rate (ie, those with outstanding tax compliance issues) will NOT qualify for the Home Renovation Incentive (HRI) scheme.

The HRI scheme allows householders to claim a 13.5% tax credit on the cost of improvement works in their homes.

The message to tradesmen and sub-contractors is clear: Be very careful, Revenue’s Big Brother is watching you.

Today’s eBrief is here. See also Revenue’s Guide to Electronic RCT.

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