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. The VAT section will give participants a detailed understanding of VAT and the implications of VAT registration on their business. Completing their VAT returns
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Course - VAT & TAX Returns
When – Tuesday 8th October – 6pm to 9.30pm
Where – Online Via Zoom
Course Overview:
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. The VAT section will give participants a detailed understanding of VAT and the implications of VAT registration on their business. Completing their VAT returns
Income Tax:
- Who pays Income Tax?
- On what income do we pay income taxes?
- Business Profits/Losses
- Allowable Business Expenses
- Income Tax Rates, USC, PRSI
- Tax Credits, Reliefs and Capital Allowances
- Exempt Income
- Preliminary Tax
- An Income Tax Return working example
- Important filing dates and deadlines
VAT :
- Registering for VAT – Why? When? The registration process
- Allowable VAT expenses
- The books and records that must be kept and for how long
- VAT Thresholds
- VAT Rates
- VAT Reverse Charge – Construction Industry
- VAT on EU transactions
- VAT Post-Brexit (Imports & Exports)
- VAT calculations
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