We understand that Revenue compliance remains a critical responsibility for SME directors in 2026. With Revenue continuing to enhance data analytics and real time reporting systems, businesses must ensure that their tax affairs are accurate, timely and well documented. A structured compliance checklist can help directors reduce risk and maintain confidence.
First, confirm that all tax registrations are correct and up to date. This includes VAT, PAYE and corporation tax where applicable. Changes in trading activity, staff numbers or business structure may require updated registrations.
Second, review VAT procedures carefully. Ensure that VAT rates are applied correctly, returns are submitted on time through ROS and supporting documentation is retained. Cross check VAT returns against management accounts to identify discrepancies before submission.
Third, examine payroll compliance. PAYE Modernisation requires real time reporting of employee pay and deductions. Confirm that payroll submissions match actual payments and that employer PRSI contributions are calculated accurately. Regular reconciliation prevents issues during Revenue reviews.
Fourth, verify corporation tax filings. Directors should ensure that financial statements align with tax computations and that all reliefs claimed are properly supported. Capital allowances, losses carried forward and any group relief arrangements should be reviewed annually.
Fifth, maintain strong record keeping systems. Revenue expects businesses to retain relevant records for the required statutory period. Digital systems should be secure, organised and capable of producing documentation quickly if requested.
Sixth, monitor deadlines closely. Late filings or payments can trigger interest and penalties. Setting internal reminders or working closely with your accountant ensures compliance obligations are met promptly.
Seventh, conduct periodic internal reviews. A proactive compliance check can highlight weaknesses in processes, whether in invoicing, expense recording or tax calculations. Addressing issues early reduces exposure.
Finally, stay informed about legislative changes. Tax rules evolve, and directors must remain aware of updates that affect their sector or structure.
Revenue compliance is not merely about avoiding penalties. It demonstrates strong governance and supports the long term credibility of your business. Directors who prioritise compliance protect both their company and their personal responsibilities.
Disclaimer: This article is based on publicly available information and is intended for general guidance only. While every effort has been made to ensure accuracy at the time of publication, details may change and errors may occur. This content does not constitute financial, legal or professional advice. Readers should seek appropriate professional guidance before making decisions. Neither the publisher nor the authors accept liability for any loss arising from reliance on this material.
