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Accounts Menus-Error in eBrief No. 44/2007

ICAI has been advised by Revenue that an error has been spotted in eBrief No. 44 which dealt with the mandatory use of accounts menus.

The original eBrief had advised that the removal of the €20m threshold referred to accounting periods commencing on or after 1 August 2007. According to Revenue, it should have read “The €20 million refers to Corporation Tax returns CT1 for accounting periods ending on, or after 31 July 2007 and filed on or after 1st August 2007”.

eBrief No. 44/2007 was reported in Section 1.03 of the October issue of tax.point. A new eBrief (No. 51/2007) supersedes eBrief No. 44/2007 and is reproduced at Section 2.04.