How long is it neceesary to keep tax documents in case of Revenue audit?

Jon Snow said:
Not exactly, you're entitled to appeal to the appeal commissioners against revenue making an enquiry out of time. The appeal commissioner will then decide whether or not you'll be helping them...!
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You're being pedantic...this isn't a tax lecture! For the purposes of this discussion, they can't ask you. How you win the argument that they can't ask you is a separate issue.
 
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Gordon Gekko said:
You're being pedantic...this isn't a tax lecture! For the purposes of this discussion, they can't ask you. How you win the argument that they can't ask you is a separate issue.
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Sorry if it seems pedantic but it's an important distinction I feel, to make sure that people don't have the impression that they get to unilaterally decide what / when Revenue can ask.

But equally, the onus is on Revenue to establish "reasonable grounds" to believe there may have been fraud or neglect.
 
Jon Snow said:
Sorry if it seems pedantic but it's an important distinction I feel, to make sure that people don't have the impression that they get to unilaterally decide what / when Revenue can ask.

But equally, the onus is on Revenue to establish "reasonable grounds" to believe there may have been fraud or neglect.
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The thing is that they do get to do that. But most people don't know the rules. A taxpayer would be right to say "you cannot ask me that" in certain circumstances. Although it's an advert for having a good advisor as I'm sure you'd agree...someone to tell Revenue that they have no right to ask a particular question or to put it up to them by saying "see you in front of the AC!"
 
Meath Lady said:
I am a complete hoarder. Trying to do a tidy up and clear out at home. Filing cabinet and study full with paperwork, accounts, statements , invoices, tenancy agreements dating back 15 years or more. Am I mad to be keeping these in case of an audit or should i just keep six years accounts and relevant papers. What would be the implications if I didnt have something needed if audited. Tax returns completed by accountant each year.
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As a fellow hoarder, I think Rory_W's suggestion might be best for you.

Rory_W said:
you could consider scanning and keeping the records electronically [broken link removed]
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You won't have the clutter, but you will still have the records.

Besides, you might want to look back at records for a purpose other than taxes.
 
Gordon Gekko said:
You are obliged to retain the records for six years, which in practice means seven years because (for example) your 2015 tax return is submitted in 2016.

Revenue cannot ask you about earlier years unless they can prove that they suspect "fraud or neglect".

So if, for example, Revenue ask you about your 2008 tax return and they have no grounds to suspect you of fraud or neglect, you are entitled to tell them that you will not be helping them.
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Woah your horses there, that's exceedingly appalling advice on how to handle Revenue. In fact it's downright dangerous as you'd likely upset a minion and get the full wrath of said minions power.
 
Ok Tommy no way would you suggest a client say that to revenue. You might softely softely as an accountant point out very gently gently to revenue staff that there is no grounds but even that could go the wrong way. That's my point. If they want to go after you they will, grounds or not.

By the way are you in the habit of telling Revenue you're not replying to them because they have no basis for asking a question?
 
Bronte said:
Ok Tommy no way would you suggest a client say that to revenue. You might softely softely as an accountant point out very gently gently to revenue staff that there is no grounds.
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Sorry, you're wrong. As a professional with an obligation to represent my customers in an adversarial forum, I will say whatever I need to say. I will also advise my customers on how they may choose to respond to a Revenue information request, including "get stuffed" if I consider that an appropriate response in a given context.

Bronte said:
By the way are you in the habit of telling Revenue you're not replying to them because they have no basis for asking a question?
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"in the habit of"?

I frankly don't like the loaded nature of this question. But see my comment above.
 
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Bronte said:
Ok Tommy no way would you suggest a client say that to revenue. You might softely softely as an accountant point out very gently gently to revenue staff that there is no grounds but even that could go the wrong way. That's my point. If they want to go after you they will, grounds or not.

By the way are you in the habit of telling Revenue you're not replying to them because they have no basis for asking a question?
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The law is there for a reason. There are strict rules regarding what Revenue can do and can't do. Taxpayers or their advisors absolutely should insist that rights under the law are observed and point out errors. These people are not gods and we don't live in a fascist state.
 
Bronte, if Revenue ask you a question that they aren't permitted to ask you, do you answer them anyway?!

A good advisor represents his/her client to the best of their ability, and to be frank takes no nonsense from Revenue.
 
Ok GG and Tommy, but I take that with a pinch of salt when we have a poster on here who took seven years to negotiate and he had apparently hired professionals. And he was in the right, and still it took years. We don't' know the ins and outs but the poster mentioned revenue hadn't a clue (basically).

Anyway I understand about 'pointing out' to revenue one's rights, but telling them to 'sling their hook' might not work and it also depends on who you are dealing with. I do realise GG that revenue are not Gods. But by God are they powerful. If they want to be. And yes I've been party to negotiations with revenue. Long time ago now. I've also experienced their utter incompetence.
 
Bronte said:
Ok GG and Tommy, but I take that with a pinch of salt when we have a poster on here who took seven years to negotiate and he had apparently hired professionals. And he was in the right, and still it took years. We don't' know the ins and outs but the poster mentioned revenue hadn't a clue (basically).
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Personally I can only speak for myself, and my own approach, here. Its impossible to meaningfully benchmark this against with anecdotes told on AAM where we don't have the first notion whether we have the full story or whether the experience outlined is factual.

Having good professional representation won't on its own insulate a taxpayer from having a Revenue Audit or similar enquiry drag on interminably. But it should help the taxpayer to assert his/her rights if attempts are made to override these.
 
T McGibney said:
Having good professional representation won't on its own insulate a taxpayer from having a Revenue Audit or similar enquiry drag on interminably. But it should help the taxpayer to assert his/her rights if attempts are made to override these.
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Agreed. And word 'should' noted.

How long should clients keep records?
 
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Good Tommy, I got something right. It's also a good idea to write oneself notes, I do in my rental excels now, to tell me why this or that bank transaction was abnormal or whatever was odd, it's amazing how you can forget things as time goes by.
 
At least it's not just me! I have everything back to my first pay slip and like Bronte notes written everywhere on statements etc. Dumped some old utility bills but have everything else imaginable.
 
I'm in the forever camp also or at least I thought I was until recently when I got into a general de-cluttering mode and am now going the 7 year rule route. The shredder is on overtime at the moment.
 
Actually I'm not even keeping them because of anything to do with Revenue, was PAYE until few years ago, I just like to have them :)
 
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