Business Taxes 101 – The 2024 edition

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Welcome to Business Tax 101 – The 2024 edition for Limited Companies and Sole Traders

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 limited companies.

You may be a start-up, perhaps you have been in business for years or you may be a sole trader starting your journey as a limited company 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.

Areas covered in the course:

  • Taxation of Limited Companies & Sole Traders
  • Registering as a Limited Company & Sole Trader
  • How does a Limited Company differ from a sole trader?
  • Advantages & Disadvantages of being Limited
  • Record keeping
  • Allowable -v- disallowable expenses
  • Losses
  • Corporation tax & preliminary corporation tax
  • Income tax & preliminary tax
  • Employment taxes and registering as an employer
  • The employee contract
  • Benefit in Kind (BIK)
  • Small benefits
  • Statutory entitlements for the employee such as sick pay, public holiday pay
  • 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

Frequently Asked Questions (FAQs)

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, directors, accountants, bookkeepers or anyone with an interest in starting the journey into the world of self-employment or looking to expand their knowledge on vital tax headings. Ideal for anyone looking for a career shake up as it will give you an edge over your competition! Our courses tick all those tax vocational boxes.

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).

Will you gain any CPD accredited hours?

Yes! All our courses are CPD accredited and you will earn 7 CPD hours on completion of this course.

How long will it take to complete this course?

This course takes approx 6 – 7hrs online viewing time. You will receive an invaluable bespoke manual to download which will expand on anything covered in this course and to act as an invaluable reference.

Are Clever Burdy courses tax deductible?

If you purchased your course to enhance your knowledge (or a team member’s knowledge) on tax so that it will ultimately benefit or further your business then this course can be fully claimed as a tax deductible business expense.

Can you only view your course once?

You will have uninterrupted access to your course for 6 months / 180 days from date of purchase and you can access your course and re-watch it as many times as you want or need in this period. That is our gift to you!

Tax sometimes changes so will you be kept informed of anything that affects course content?

At Clever Burdy we are super aware that an element of tax could change overnight that may be contradictory to something mentioned in your course. We keep on top of any changes and issue any updates notes to highlight anything you should note in your manual. We also try to edit in changes when possible to do so and we try to record our courses once a year to keep your tax learning fresh, up to date and most importantly……..correct!