(RCT) Relevant Contracts Tax
One-day Training Course
28th September 2023
25th January 2024
Approved for 3hr CPD by the IOB (Institute of Banking)
Streamed Live from CMG Studios
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.
- 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
Alan Kilmartin, Tax Director, Deloitte
Alan is a Tax Director with Deloitte specialising in VAT and Relevant Contracts Tax. Prior to joining Deloitte he worked for the Irish Revenue Commissioners as a tax auditor. He has over 20 years tax experience dealing with a wide variety of industries and has provided Indirect Tax (VAT) and Relevant Contracts Tax (RCT) consultancy and compliance services to clients in a number of sectors specialising in construction, renewable energy, exploration and related fields. He advises on the impact of both Irish and foreign VAT on transactions, together with reviewing contracts and structures to identify potential VAT/RCT pitfalls, opportunities to minimise costs and maximise recoveries.
As a former Irish Revenue Auditor, Alan holds a Diploma in Applied Taxation from University College Limerick/Revenue. He is a member of both the Accounting Technicians Ireland and the Irish Taxation Institute. He has lectured on Relevant Contracts Tax for Chartered Accountants Ireland and the Irish Taxation Institute and written various VAT/RCT related articles for Irish Tax Review (ITI technical publication). Alan also leads the Deloitte Ireland publication ‘Indirect Tax Matters’ which provides insights on topical VAT and RCT issues.
|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 include – Accountants, Accounts Admin, Payroll Officers, Credit Controllers, Financial Controllers , Financial Officers and Purchasing/ Procurement personnel to name a few.
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.
|WHEN AND WHERE?|
Date: 28th September 2023 or 25th January 2024
Time: 9.30am – 3.00pm
Where: Online course streamed live from CMG Studios
An ‘Early Bird’ discounted rate of €485 is currently available. This training course normal rate is €585. 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 notes and Certificate of Attendance.
|BOOK YOUR PLACE|
WEBSITE – Please Click Here to be taken to our website where you can book your place directly
EMAIL – Please Click Here to send an email to secure your seat
PHONE – Contact the CMG Training Team on 01-2933650 to secure your place