Get Your Tax Facts!
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We bring you a Tax for Beginners Workshop and some advice from the Revenue Comminssioners.
The prospect of tax returns can make beginners break out into a cold sweat! Taxation can be a minefield for the un-initated. With this in mind, the Dublin City Enterprise Board is holding a Tax for Beginners Workshop in June.
Start Date: Tuesday 22nd June 2010
From: 14:00 – 18:00
1 afternoon
Venue: National College of Ireland, IFSC
Cost: €30
To book this workshop online now, please click here
Here’s a brief description of the workshop and we’ve also included some advice from the Revenue Commissioners below:
The session will address the basis tax issues that arise for individuals operating as a sole trader or a company. It will also address the issue of self-assessment and submitting returns, reading accounts and assessing the financial health of your business. The trainer will also make time for a “Small Business Check-Up” whereby the participants can take time to ascertain if their current business systems meet tax obligations. The trainer will also provide “Prescriptions” which will ensure participants are made aware of ways in which they can best manage the tax affairs of their business.
Aims of the Programme
The session will also ensure participants gain all the information they need on any key agencies involved, the processes involved in dealing with such agencies and the steps they should be taking to ensure that they are managing their businesses in a legal manner.
Workshop Content:
Reporting requirements of limited companies, sole traders and partnerships
The Self-Assessment system
Preliminary Tax – What & When to Pay Capital Allowances/chargeable gains
The PRSI System
The completion of an Income Tax return
Personal Allowances and Rate Bands
Tax and PRSI Liability
The VAT System - Calculating VAT and preparing VAT returns (The trainer will provide blank VAT Forms and facilitate a point by point explanation)
Important Dates – Trainer will distribute a Checklist
Contact Details of Key Agencies
To book this workshop online now, please click here
Tips From The Revenue Commissioners On Getting Started
You should advise the tax office when you start in business. You can do this by filling in one of the following forms which are available on www.revenue.ie :
Registration Form TR1 - Tax Registration form for Sole Traders, Trusts and Partnerships ) (Download and complete on screen by visiting www.revenue.ie)
PREM Reg - Employer (PAYE/PRSI) Tax Registration Form
These forms are available from any Revenue Office, and can be used to register for any or all of the following:
Income Tax
Employer’s PAYE/PRSI
Value Added Tax
Relevant Contracts Tax
If you are setting up a company you should fill in Form TR2 - Tax Registration form for Companies available on www.revenue.ie.
This can be used to register for any or all of the following:
Corporation Tax
Employer’s PAYE/PRSI
Value Added Tax
Relevant Contracts Tax
Shortly after registration you may receive a visit or you may request a visit from a Revenue official to assist you in operating the tax system. Any difficulties or queries will be dealt with and general assistance will be given to help you comply with your tax obligations. You can request a "New Business Visit" from your local Revenue office.
Source: www.revenue.ie