886A Retention and inspection of records in relation to claims by individuals

Summary

This section imposes a statutory obligation on individuals wishing to make claims to tax reliefs to keep and preserve, for a minimum of 6 years, any supporting documentation. The obligation to keep and preserve documents can be satisfied by retention of the information in them.

Where a claim is made, failure to observe the obligation to keep and retain records will incur a penalty of €1,520. However, this penalty will not apply if the taxpayer produces other evidence to confirm the information which the records if retained would show.

Revenue will be able to subject any claim to detailed examination within a 4 year period and may call for any necessary documentation (either the originals or photocopies), of which copies or extracts may be made.

Details

(1) Where an individual wishes to make a claim for tax relief for any year, the individual is to keep and preserve all such records as are requisite to make a correct and complete claim.

(2) The records which a taxpayer is required to keep and preserve are to be retained for the longer of 6 years or the period ending on the date when any enquiry made into the claim (see below) is completed.

(3) & (4) Failure to keep and preserve records as required by the section incurs a penalty of €1,520. However, this penalty will not apply if the taxpayer produces other evidence to confirm the information which the records if retained would show.

(5) A Revenue Officer may enquire into a claim for relief, or an amendment of such a claim, on giving due notice within the 4 year period from the end of the year in which the claim, or the amendment, is made.

(6) Where a Revenue Officer gives notice of intention to enquire into a claim, the official may, at that or a later time, request any documentation in the claimants possession or power that may reasonably be required to determine if the claim is correct.

(7) In complying with a request for documentation an individual may submit photocopies but the Revenue Officer may insist on seeing the originals.

(8) Copies or extracts may be made by the Revenue Officer of any documentation submitted in support of a claim.

Relevant Date: Finance Act 2019