Revenue have issued a questionnaire to approximately 100 property developers during the week ending 20 October 2006 in relation to Stamp Duty and Development of Lands.

ICAI understands that in each instance a copy of both the questionnaire and a covering letter will also be sent to the agent on Revenue's record for the case. The letter explains the context of the request for information, which is that the Minister for Finance has requested a report in relation to the application of the stamp duty code to the development of lands.

The letter clarifies that the questionnaire is not a notification of a Revenue audit or investigation, and that it should be completed by 10 November 2006. The timing is unfortunate; in very many cases, the client will ask the accountant for assistance in completing the questionnaire at what is the busiest time of the year in Income tax terms.