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This course helps you to understand the self assessment system, what your record keeping obligations are for tax purposes and when your tax returns are due to the Revenue. Covers deductible expenses, how fixed asset expenditure is treated (capital allowances), calculating your tax bill and all the elements therein including tax, PRSI and USC. We cover important dates, using the ROS system, explanation of relevant terms plus how to complete the sections of form 11 relevant to micro enterprise.

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Details:

• Self Assessment system explained
• Explain tax implications for sole trader, partnership and company (course concentrates on sole trader returns but can accommodate company returns CT1)
• Review your record keeping obligations for tax purposes
• Deductible expenses – what can I put through the books?
• Capital Allowances – how fixed asset expenditure is treated for tax purposes
• Elements of a tax bill – tax, PRSI & USC
• How is my tax bill calculated – using case study and exercise
• Important dates – income tax, corporation tax
• Explanation of tax returns – Form 11, 46G and CT1
• Completing Form 11 – Manual Sample/Case Study demonstrating same used initially
• Using Revenue On-line System(ROS)
• Submitting returns online: Form 11, Other returns including VAT returns, Employer returns – P35, P30
• Viewing details of payments made, returns made online