Revenue eBrief No. 43/11
15 July 2011
Changes to the operation of Relevant Contracts Tax (RCT)
As part of Revenue's change management plan for the introduction of the new RCT system, a mail shot is being issued to principal contractors to inform them of the main RCT changes, the potential implications for their business and what they should do to prepare for these changes. Principal contractors can expect to receive their letter and an information leaflet from Revenue from 19th July onwards.
Revenue is also writing to agents who, according to our records, have one or more RCT clients who are principal contractors. These agents will be provided with a copy of the letter and information leaflet that issued to principal contractors, and also a list of the principal contractors for whom they are listed as agents for RCT. Agents can expect to receive their letter and information leaflet from Revenue from about 20th July onwards.
Copies of the letters and information leaflet are now available on our website.
The new system will be subject to a commencement order to be signed by the Minister for Finance but is expected to be introduced on 1st January 2012.
Further information on the new system can also be accessed through the following links:
Revenue website - Changes to RCT System