ROS - Revenue Online Services commencing 27.09.22

Venue:
Online via zoom (Trainer will email the login details)
 
Date:
27/09/2022
 
Note:
4 x evening workshops with 1-1 follow up session
 
Time:
6.30pm - 9.30pm
 
Category:
Workshop
 

To introduce businesses to the use of Revenue Online Services (ROS) and provide participants with the knowledge of how to become a ROS customer and use ROS to its full potential.

€25
 
 

Revenue Online Services (Evenings)

Dates of workshops:  27th September to 13th October

Time of each workshop:  6.30pm - 9.30pm

Format:  Online via zoom - The trainer will provide login details for each workshop (please also check your spam & junk folders)

Workshops:

Workshop 1  - Tue 27th Sept: Small Business Accounts 

Workshop 2 -  Thur 29th Sept: A Layman’s Guide to VAT(incl. ROS Demo of a VAT3 Return)

Workshop 3 - Tue 11th Oct: A Layman’s Guide to Income Tax (Session 1: Intro & content)

Workshop 4 - Thur 13th Oct: A Layman’s Guide to Income Tax (Session 2: incl. ROS demo of submitting a Form 11 tax return) 

Course Descriptions:       

 Workshop 1:

Course Name

Small Business Accounts

Course Aim:

This course is designed as a workshop with opportunities to participant and contribute. The aim of the course is to give the participants confidence in working with their business’s books and records, and the knowledge needed to keep proper books of account and to deal with Revenue obligations. It will also give participants an understanding of small business accounts, especially the Profit and Loss Account and its impact on the business, it’s future and the business’s income taxes.

Course Objectives:

  1.   To explain and demonstrate the books and records that must be kept by business owners and in what format
  2.   To teach and explain which expenses are allowed to be claimed by businesses and those that are disallowed
  3.   To demonstrate and practice how to reconcile the bank account
  4.   To explain the Profit and Loss account and Balance Sheet and how the Books update these

Course Content:

  • How to keep and record financial records – ‘The Books’
  • Templates of The Books – Sales, Purchases, Bank Transactions etc
  • Terminology - Assets, Liabilities, Income, Cost of Sales and Expenses
  • Allowable business expenses
  • Bank Reconciliation
  • Debtors & Creditors
  • The Profit and Loss Account
  • The Balance Sheet

Training Method:

  • Clear demonstrations by the trainer
  • User-friendly case-study used as the training tool.
  • Practical exercises for participants.
  • Interactive learning.
  • All participants will receive a set of detailed notes/slides at the start of the class.

Participant Profile:

Individuals wishing to start a business/ Individuals in business < 3 years, whether they are sole traders, partnerships or limited companies.

 Workshop 2: 

Programme Name

A Layman’s Guide to VAT (Ideal for Sole-traders, Partnerships, and limited companies)

Programme Aim:

The aim of this course is to help business owners understand their obligations in relation to VAT registration, VAT thresholds, VAT rates, record keeping, calculations and the VAT returns.

Course content:

a)  Registering for VAT – Why? When?

b)  VAT Thresholds and Rates

c)  The books and records that must be kept and for how long

d)  VAT on EU transactions 

e)  VAT on UK transactions (post-Brexit)

f)   VAT calculations

g)  The VAT returns – VAT 3 and RTD

h)  ROS Demo on submitting a VAT 3

i)   An opportunity to ask specific questions of the tutor

Training Method:

  • Clear demonstrations by the trainer
  • All participants will be given a full set of detailed notes at the beginning of the class.

Participant Profile:

Individuals wishing to start a business/ Individuals in business < 3 years

*** This course works as a great appendage to the ‘Small Business Accounting’ course.

Workshop 3 & 4 : 

Programme Name

A Layman’s Guide to Income Tax (Incl. ROS Demo)

(Ideal for Sole-traders, Partnerships, Landlords, Company directors)

Programme Aim:

The aim of this course is to provide each participant with a clear understanding of their responsibilities as a self-employed person and an understanding of how their business fits into the self-assessment tax system. They will also gain an understanding of how Income Taxes are calculated on their business profits with tips and advice to ensure they pay less tax.

A huge advantage of this course over many others is the detailed demonstration of how to submit your own Form 11 tax return on Revenue Online Services (ROS).

Course content:

    1. Who pays Income Tax?
    2. On what income do we pay income taxes?
    3. Allowable Business Expenses
    4. Income Tax Rates, USC, PRSI
    5. Tax Credits, Reliefs and Capital Allowances
    6. Exempt Income
    7. Preliminary Tax
    8. An Income Tax Return working example
    9. Important filing dates and deadlines
    10. ROS DEMO – How to submit your Form 11 tax return online
    11. An opportunity to ask specific questions of the tutor

Training Method:

  • Clear demonstrations by the trainer 
  • User-friendly case-study used as the training tool
  • Interactive learning
  • All participants will be given a full set of detailed notes at the beginning of the class.

Duration:                                            

  • 4 x evening workshops
  • This programme will include a one-to-one follow up clinic with the programme trainer - to be arranged by the trainer after the workshops.

Trainer:

Sarah McGuinness, SM Accounting Solutions