Taxation

Course details

  Learning Outcomes 

•  Explore the various trading structures through which a business can carry out its activities
•  Identify the tax returns that a typical business is required to make including the tax records required for a Revenue audit
•  Summarise the general concepts and procedures relating to Value Added Tax (VAT) to include thresholds for VAT registration, , the records required for accurate VAT accounting, VAT rates
•  Examine the Corporation tax and Capital Gains Tax obligations applicable to a range of business activities to include tax rates, payment dates and reliefs
•  Analyse the tax rules applicable to dealing with contractors and sub-contractors, to include an explanation of which rules apply, the calculation of sub-contractor tax liability Summarise the PAYE and PRSI system to include tax credits, standard rate cut-off points, different pay frequencies, the tax treatment of benefit-in-kind, expense claims, disability benefits and maternity payments
•  Comment on the general operation of Pension Schemes to include the registration of new employees and the tax treatment of a range of additional pension contributions
•  Explore the tax treatment of and procedures relating to a range of tax areas including Director’s Loans, Redundancy Payments and Leases and Hire Purchase of assets
•  Appraise the tax advantages and disadvantages of a range of business trading structures
•  Access the Revenue’s online tax payment facilities and apply for a range of tax certificates and forms
•  Calculate a range of tax payments, reliefs and deductions
•  Assist in preparing the Annual Tax Return
•  Process the registration of new employees with Pension Schemes
• Contribute to the tax accounting for a range of payments, reliefs and deductions
• Prepare a range of monthly and annual tax returns dispatches and courier services.

Assessment:

Portfolio 50% Examination 50%

Progression Routes:

FETAC level 5 National Certificate in Business Administration