Every accountant will be aware of the difficulties of preparing the preliminary tax estimate. The current procedure whereby companies with liabilities of €50,000 or less in the prior year can use the prior year's figure as the basis for a preliminary tax payment for the current year is satisfactory and we are seeking to have the procedure applied for all companies, or at the very least, to have the €50,000 threshold increased.

To this end, we have prepared and presented to Revenue a position paper on the topic and we will continue to make representations in this regard. The position paper is reproduced at 2.09 below.