# Tax - how far back can revenue go?



## wheeler (26 Jul 2006)

Quick questions:

1) As a PAYE how far can the revenue go back when doing an audit? In order words, how long do I need to keep records?

2) For a LTD how far can the revenue go back when doing an audit? In order words, how long do I need to keep records?

3) Has anyone a statistic of the chances of being audited?


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## ARCH (26 Jul 2006)

You must keep records for seven years.  However if Revenue can prove fraud they have can go back as far as they like no limits


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## bazermc (26 Jul 2006)

whelanfiona said:
			
		

> 3) Has anyone a statistic of the chances of being audited?


 
Generally revenue will audit you if your return look unusual or they are going after a specific industry this year it is the construction industry
lastly they will audit by random selection
If you are honest and prepare your returns correctly you have nothin to worry about being audited by revenue


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## markowitzman (26 Jul 2006)

and on discussion with a senior revenue official a frequent source is a letter from neighbour or work employee citing non-compliance!!
they do not act on anonymous letters but those with signature etc they generally act.
Was told audits are not "random" but are usually for good reason in the vast majority of situations.


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## wheeler (26 Jul 2006)

bazermc said:
			
		

> If you are honest and prepare your returns correctly you have nothin to worry about being audited by revenue


 
I know.. really just checking on how long to keep the files.


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