In Revenue’s most recent e-brief no 55/2014 they give details of a new S62A in the Vat Consolidation Act 2010 which deals with the adjustment of deductible Vat in relation to unpaid consideration.
The section provides for an adjustment of the amount of Vat deductible where a person, who has claimed a deduction of Vat in a taxable period, has not paid the supplier for those goods or services which resulted in the deduction within six months of the end of that taxable period. If a part payment has been made, the adjustment is only required for that portion that is still unpaid after 6 months. This new provision comes into effect in relation to Vat deducted in Vat periods from January 2014. See link attached http://www.revenue.ie/en/practitioner/ebrief/2014/no-552014.html