Revenue have announced their intention to require all businesses, irrespective of size, to complete accounts menus instead of filing accounts.

The announcement was made at a TALC meeting on 25 April last. Readers will recall that, in recent months, the scope of the accounts menus was extended to businesses with a turnover threshold of €20m. It now seems that all businesses, other than those handled by Large Cases Division, will be obliged to complete accounts menus for filing dates in 2007. No consultation was offered on the process. It appears that the development is aimed towards facilitating Revenue's ESKORT system, which captures taxpayer details and identifies cases for audit based on computerised risk analysis.

ICAI has pointed out to Revenue that the development increases the compliance burden for accountants. We have advised Revenue that in our view, the current accounts menu structure is completely unsuitable for larger corporates. Further, we have reminded Revenue that the declaration which is signed on Forms 11 and CT1 does not extend to figures on the accounts menus, and we would insist that this remains the case.

Revenue have agreed to a consultation process to include the design of the accounts menus. Members’ comments on this development would be welcome, and should be sent to Brian Keegan, Director of Taxation, at the Institute (brian.keegan@icai.ie).