Revenue has published a revised version of the Code of Practice for Revenue Audit. Some minor adjustments, for presentation purposes, have been made to the version that was posted in September. The only changes to text were at the paragraph dealing with Mitigation of Penalties/Reduced Penalties, now numbered 4.6.5, which was amended to include a reference to the level of default, in the careless behaviour without significant consequences category, which will not attract a penalty.

In addition a line was included at paragraphs 3.5 and 3.6 to confirm that where an audit is extended, there may be qualifying disclosure opportunities.

A commentary on the operation of the new Code is contained in the Institute publication “Surviving Revenue Audits” which is available to purchase now.

The revised Code is available on the revenue website www.revenue.ie.