Revenue are currently implementing a change management plan for the introduction of the new RCT system.  The new system is subject to a commencement order by the Minister for Finance but is expect to begin on 1 January 2012.

Under the new system all contacts between principals and Revenue will be conducted through an on-line process. Principals will need to be registered for the Revenue Online Service (ROS) before the new scheme is introduced. Revenue will however accept paper RCT35 forms for periods up to 31 December 2011.

Under the new scheme the standard rate of RCT will be 20% however there are cases in which a rate of 0% or 35% may be applied.

As more information becomes available we will keep you updated.