Course Content

Session One & Two

• Revenues definition of a business expense.
• Operating from home. How to allocate bills such as light, heat, phone and business and home properly.
• A filing system which will satisfy Revenue requirements.
• The importance of keeping accurate records and how this will save on tax.
• How to calculate your tax bill each month. By doing this they wont be building up a large debt at the end of the year. Template provided to assist participants in calculating tax, PRSI and USC monthly liability.
• Drawings by the owner. This is looked at in relation to their tax bill.
• Filing purchase Invoices.
• Setting up creditors ledger.
• Setting up Debtor’s Ledger.
• Introduction to VAT.
• Different VAT rates.
• When you must register?
• When must returns be submitted?
• How do you pay and when?
• Benefits/Advantages of VAT Registration.

Session Three & Four

• Records which must be retained:-

1. Purchase Book.
2. Sales Book.
3. Cash Book.
4. Cheque Journal.

• Revenue guides to:-

1. VAT.
2. PAYE/PRSI.
3. Self Assessment.

• Preparation of books, records and completion of government forms:-

1. How to calculate tax as a self-employed person. Template provided.
2. Purchases book not registered for VAT.
3. Purchase book registered for VAT.
4. Cash book for retailer.
5. Cash book for services.
6. Sales book.
7. VAT Return.
8. Cheques Journal.

Session Five & Six

• Employing people for the first time. They are given the correct procedure to follow on a step by step basis.

1. Employers liability insurance must be taken.
2. Health and Safety Statement must be written up.
3. Register with Revenue as an employee.
4. Issue employment contracts to employees. Sample contract provided and explained.

• The true cost of employing people is explained for example:-

1. Gross pay.
2. Employers PRSI..
3. Cost of holidays.

• Full and detailed explanation of all government forms relating to employment.

1. Form 12A
2. PRSI Contribution Rates.
3. Calculation of wages.
4. PAYE/PRSI Return, P30.
5. P.45
6. P.60
7. P.35
8. Holiday pay entitlements.
9. Minimum pay rates.
10. Minimum notice.
11. Unfair dismissal.