Asking Revenue for an opinion before a transaction: the rules for high-wealth taxpayers

Revenue gives advance opinions only on complex, uncertain points. How high-wealth and financial services taxpayers apply, what to include, how long it lasts.

Sometimes a taxpayer wants Revenue to confirm, before going ahead, that its analysis of the tax consequences of a planned transaction is right. Revenue calls this an opinion or confirmation. Each Revenue division has its own procedures. This guide covers the High Wealth and Financial Services Division. It deals with high-wealth individuals (assets less debts of €20 million or more) and financial services businesses.

When Revenue will give one

Only where all of these apply:

• the issue is complex, unusual or uncertain
• the answer isn't already published, for example in a Tax and Duty Manual
• the request is for a named taxpayer and an actual proposed transaction, not a hypothetical one
• all the relevant facts are provided

Revenue won't issue a 'letter of comfort' on a straightforward point, and won't act as the taxpayer's adviser. It won't give an opinion where it considers the transaction involves or helps tax avoidance.

How to apply

• high-wealth individuals: to the relevant branch manager in the division
• financial services businesses outside co-operative compliance: through MyEnquiries in ROS
• businesses in co-operative compliance: in writing to their dedicated case manager
• high-wealth individuals taking part in the Enhanced Compliance Engagement pilot: under its own procedures for significant transactions

Every application uses Form RTS 1A. It must set out the taxpayer and other parties, the transaction and its purpose, the tax issues and the relevant law. It must also give the taxpayer's own analysis, relevant case law, and the effect on the tax bill. Double tax treaty questions go to Revenue's Tax Treaties Branch instead.

How long an opinion lasts

• at most five years, or a shorter period if stated; VAT opinions usually relate to one transaction only
• only while the facts, the law and Revenue's practice stay the same
• Revenue can review, amend or withdraw it, with effect from when the facts changed or from when it tells the taxpayer

To keep relying on an opinion after it expires, the taxpayer has to reapply.

Timing

Where a deadline applies, Revenue will try to reply in time, provided the request is made early enough for the point to be considered properly. Leave plenty of time before signing.

Work it out

• Gift and inheritance tax (CAT) →
• Sole trader tax return →

Sources

• Revenue: Pay and file system: how does it work? (checked 25/10/2026)

General information, not tax advice. HeyPenny is not a tax agent.