Audits of Public Houses in the Dublin Region
ICAI has been advised by Revenue that they are to commence audits of the Pub Trade in the Dublin region this summer.
Audit notification is being sent to around 60 publicans in early May, with the audits due to be carried out in June, July and August. This is NOT a sectoral review, whereby taxpayers will be asked to make an unprompted disclosure.
The Licensed Vintners Association has issued a letter to its members which sets out the matter very well. They highlight that key areas of concern will include
- unrecorded purchases either due to off statement purchases or cash purchases, typically paralleled or imported product
- cash payment of casual or part-time labour
- cash from unrecorded sales being taken out of the business
- inadequate cash controls
- non-renewal of excise licences
We gather that Revenue will be issuing notices of comprehensive audit to the selected pubs around 1 May. The audits will be carried out over June, July and August.