Date
June 16, 2022
COURSE DELIVERY
Online
START TIME
9.30am

Course Description

Relevant Contracts Tax (RCT) is a withholding tax aimed at ensuring that those working in certain sectors are tax compliant. Relevant Contracts Tax is a complex area, it can be a detailed and laborious process with many unclear areas, and misdemeanours in this space can be extremely costly.

This one-day course will look to provide clear and direct guidance on RCT, including who is defined as a “principal” contractor, registration and what are your RCT and VAT obligations. We will show how to self-account for VAT, what payments are subject to RCT, dealing with multiple contracts, and we will also clarify tax clearance procedures for public sector contracts.

All attendees will receive expert guidance from our course trainer, who specialises in RCT with over 20 years tax experience and is a former Revenue Auditor.

Course Content

RCT

• Who is a Principal Contractor, sub-contractor and who is an employee?

• What are relevant operations?

• What is a relevant contract?

• Registration as a Principal Contractor (if not already registered)

• Online Registration of contracts by Principal Contractors

• Online pre-approval of payments in respect of services

• Site Identifier Number (SIN)

• What are the RCT and VAT obligations of Principal Contractors?

• How to self-account for VAT on the reverse charge basis

• When VAT should and should not be accounted for on the reverse charge basis

• When should VAT be charged by the supplier?

• Deduction of 3 possible rates of RCT from payments to sub-contractors!

• What happens if RCT is not deducted?

• What payments are subject to RCT and what payments are not subject to RCT?

• Multiple contracts

• Why C2s are no longer relevant

• Tax clearance procedures for Public Sector contracts

• Records, Revenue Audits and Penalties

Withholding Tax

• Who deducts PSWT?

• What are professional services?

• Payments excluded from PSWT

• PSWT forms

• Information for providers of professional services

• PSWT implementation on 01 July 2021

Who Should Attend

This course will be greatly beneficial to you if you are;

• Responsible for engaging contractors to carry out services

• Unsure what services are liable to RCT

• Responsible for making payments to contractors in respect of services

• Responsible for the operation of RCT and withholding tax

• You are required to pay retention money in respect of previously completed works?

• Unsure how to account for VAT on the reverse charge basis on services

• Unsure of tax clearance and withholding tax procedures which apply to Public Sector contracts

Typical attendees would be – Accountants, Accounts Admin, Payroll Officers, Credit Controllers, Financial Controllers , Financial Officers and Purchasing/ Procurement personnel to name a few.

Certification

On completion of this one-day training course, you will receive your Certificate of Attendance. Please note certificates are issued at the close of the training course to participants on completion of the course. Please check directly with your association or awarding body to see how many points they will award.

Cost

An ‘Early Bird’ discounted rate of €465 is currently available. This training course normal rate is €565. Places are limited and are allocated on a first come first served basis. PLEASE NOTE THE EARLY BIRD RATE CLOSES 3 WEEKS PRIOR TO COURSE DATE. The course cost includes all course documentation and Certificate of Attendance.

Tutor

Alan Kilmartin
Tax Director, Deloitte
Jamie O Hanlon
Managing Director - Avid Partners

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