A Layman's Guide to Income Taxes and the Form 11

Venue:
Online - Details will be forwarded
 
Date:
09/10/2024
 
Note:
Wednesday 9th & 16th October 2024
 
Time:
9.30am-12.30pm
 
Category:
Workshop
 

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.

This event is no longer available
 

A Layman's Guide to Income Taxes & the Form 11

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. There will also be a demonstration on how to submit a Form 11 Income Tax Return on Revenue Online Services (ROS), including making tax payments and printing reports.

Course Content

  • Who pays Income Tax?
  • On what income do we pay income taxes?
  • 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 
  • Demonstration of Income Tax Return Form 11 
  • Making Tax Payments 
  • ROS Revenue Record / Inbox – Printing returns and other reports
  • An opportunity to ask specific questions of the tutor