(RCT) Relevant Contracts Tax

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

Course Content

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

‍

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

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 procedures which apply to Public Sector contracts

‍