The New RCT payment scheme started in January 2012.
Avail of our SPECIAL OFFER and we will manage your RCT payments for up to 3 Sub-Contractors FREE of Charge when provided along with our Complete Accounts & Tax service
We also offer very competitive rates for larger numbers of Sub-Contractors
Principle Contractors must ensure to comply with the rules of the New RCT payment scheme, including;
- All RCT / C 45 transactions are now prepared online via ROS
- You must contact the Tax Office Before you Hire a Sub-Contractor
- You must contact the Tax Office Before you Pay a Sub-Contractor
- The Tax Office will inform you How much to Pay the Sub-Contractor
- You must obtain Proof of Identity from each Sub-Contractor
As your Tax Agent we can provide the Online Service required to operate the New RCT payment system.
Operating the New RCT Payment system via ROS will require a lot more work compared to the old Paper based system, as all details for each contract, Sub-Contractor and all payments must be processed Online via ROS.
The New RCT payment scheme will also apply to Sub-Contractors.
One of the main changes is that you can no longer obtain RCT / C 45 refunds during the year by submitting your “Pink C 45” . Instead you have to wait until after the tax year has ended and then only when all of your tax returns are up to date and paid will you receive the balance on your RCT / C 45 tax account.
Additional requirements affecting Sub-Contractors include;
- You must be registered with the Tax Office as Self Employed
- You must provide Proof of Identity to the Principle Contractor
- You no longer charge VAT on Sales to a Principle Contractor
Complete Accounts and Taxation Service
Starting from Euro 250 per Year for Self Employed
Starting from Euro 40 per Month for New Small Businesses
Starting from Euro 80 per Month for Established Small Businesses
We provide the following Complete Accounting & Taxation service;
- Complete Bookkeeping Service
- Complete Payroll Service, provided FREE along with our Accounts Service
- Prepare & File VAT returns
- RCT Sub-Contractor Tax account maintenance on ROS
- Prepare Year end Accounts and Financial Statements
- Prepare and File Corporation Tax return
- Prepare and File Personal Income Tax return
- Prepare Companies Office Returns
- Attend to Tax Office queries relating to submitted Tax Returns
- Provide General Accounts Advice relevant to your Business
- Provide General Tax Advice & Tax Updates relevant to your Business