•  April 17, 2024
     10:00 am - 4:30 pm

This is an interesting and real-life example based course covering a host of business tax topics that every business owner should know and understand. What if you learned something now that will potentially save you thousands in Income tax for years to come? We have handpicked every topic with this course to include the most relevant and important topics for sole traders and partnerships.

You may be a start-up or you may have been in business for years but we can guarantee you will walk away from this bespoke course feeling more confident that you have gained a broad knowledge of the business tax headings that affect most business owners in Ireland. Navigate your business with absolute ease from this point on. There is no doubt that this is your one-stop-shop for business taxes.

Why should you do this course?

There is no denying that running a business is rewarding but if you have a vested interest in it and/or are charged with looking after the day-to-day transactions you could unwittingly be drip-feeding profits into pointless expenses. What does that mean? It means you could be paying out money on expenses your business cannot even claim as a tax deductible expense so that means less money AND you pay more tax. Then there is the tax compliance end – for all businesses self-assessment is the name of the game and if you make a false move you could find yourself on the Revenue Radar for all the wrong reasons so this course will show you how to always stay one step ahead of Revenue, retain profit and pay less tax. You will also learn valuable and completely above board tax hacks you never knew existed!

Who is this course for?

This bespoke course is for business owners, finance professionals, accountants, bookkeepers or anyone with an interest in starting the journey into the world of self-employment. Ideal for anyone looking for a career shake up as it will give you an edge over your competition!

What will you learn?

This course will finesse your understanding of the main tax headings that affect business owners in Ireland. We delve deep and highlight common pitfalls so that business owners in Ireland feel competent and confident in running their business from this point on as you will gain a thorough understanding of the concept of VAT and its’ administration, calculating tax liabilities, tax deadlines, understanding what expenses are allowable as a deduction against tax, managing employer taxes and how to make smart choices regarding daily expenditure verses capital expenditure. No more drip-feeding profits as we will teach you about clever spending whilst actively reducing the income that will be taxed. You will also learn how to ensure all your Revenue returns are all up to date using Revenue Online Services (ROS).

CPD Hours Awarded: 7 hours

Areas covered in the course:
  • Taxation of Sole Traders, Partnerships and limited companies
  • Registering a business name
  • Record keeping
  • Allowable -v- disallowable expenses
  • Pre-trading expenses
  • Private use adjustments
  • Losses
  • Income tax & preliminary income tax
  • Employment taxes and registering as an employer
  • The employee contract
  • Benefit in Kind (BIK)
  • Small benefits
  • Reporting payroll to Revenue and the statement of account
  • The Department of Social Protection (DSP) – what is a self-employer individual entitled to?
  • Capital allowances – what are these and how do they differ to other expenses
  • Capital allowances on motor vehicles
  • Selling, disposing or scrapping of assets
  • VAT – what is it charged on?
  • The VAT thresholds in Ireland
  • The sales invoices -v- the cash receipts basis for VAT
  • Electing to register for VAT
  • VAT that can not be claimed as a deduction
  • Filing VAT returns
  • Revenue Audits – how to avoid or how to survive
  • The Revenue Audit process
  • Mitigation
  • The Revenue Sheriff
Time & Date:
  • Wednesday 17th April 10.00-12.30 and from 2.00 until 4:30 (This is a 1 day program)
Cost:
  • €80 for ISME Members
  • €95 for non members
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