Business Tax 101 - Sole Traders

Welcome to Business Tax 101 – Sole Trader from Clever Burdy

This is a bespoke, relevant 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.

CPD Hours: 7 hours

Areas covered in the course:

• Taxation of Sole Traders & Partnerships
• 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
• 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