I have been advised by the Office of the Revenue Commissioners that this case (details supplied) is the subject of an on-going compliance intervention. As part of this intervention the issue of any liability arising under Section 441 Taxes Consolidation Act, 1997 (TCA) is being addressed. Final liability has not been computed and agreed.
However, I am advised that the Revenue Commissioners are prepared to enter into an instalment arrangement to facilitate payment of agreed liability over an agreed timeframe, if it has been demonstrated to the satisfaction of Revenue that payment in full is not possible. Such matters can be discussed directly with the Wicklow Revenue District. Tax Briefing Issue 48, June 2002 provides guidance on professions falling within the provisions of Section 441 TCA, 1997. The section is designed to counter avoidance of tax arising from the diversion into close companies of income (usually arising from professional activities), which would otherwise attract income tax at the higher personal rates of tax.