The RCT Rules are simple, as a principal contractor you must ensure that sub contractors have a contract registered on ROS prior to starting on site and must then, register each payment to each sub contractor before making the payment to the subcontractor in order to identify the appropriate deduction.
For You as the Principal Contractor Accountants For Tradesmen will
- Register the contract
- Register the payment
- Provide a deduction cert for your subie
For as teh Subcontractor Accountants for Tradesmen will
- Confirm deductions made by your principal
- Maintain a ledger of payments from principals
- Track and maintain a ledger of sub contracts
Relevant Contracts Tax (RCT) for Principal & Sub Contractors
The RCT Rules are simple, as a principal contractor you must ensure that sub contractors have a contract registered on ROS prior to starting on site and must then, register each payment to each sub contractor before making the payment to the subcontractor in order to identify the appropriate deduction.
For You as the Principal Contractor Accountants For Tradesmen will
- Register the contract
- Register the payment
- Provide a deduction cert for your subie
For as teh Subcontractor Accountants for Tradesmen will
- Confirm deductions made by your principal
- Maintain a ledger of payments from principals
- Track and maintain a ledger of sub contracts
The Reverse Charge VAT System
At Accountants For Tradesmen we will operate The Revenue's reverse charge VAT for you. This inefficient system implemented by the Irish Revenue requires principal contractors to account for the VAT on sub contract invoice with an equalling/ balancing VAT input / output credit.
Payroll for 'The Lads'
Accounts for Tradesmen run the very popular EasyPayroll.ie payroll bureau, a full payroll service is included with Payslips issued weekly, holiday pay tracked, and Revenues On Time Reporting maintained, as part of your accountancy service we will take care of all you staff payroll needs.
Mileage, Country Money, Other Allowances
Accountants for Tradesmen will identify if your staff are entitled to "country money", "phone or travel" allowances, subsistence, mileage, tax free bonus payments, ect.... We will also make your accounts as tax efficient as possible
End of Year Accounts
We, at Accountants for Tradesmen, will take care of your end of year accounts in full for BOTH Limited Companies and Sole Traders. We will do the tax returns and help you identify the most tax efficient position you can be in!
The One-Man Operator
Accountants for Tradesmen specialise in dealing with individuals who operate on permanent subcontract basis, we will help you identify your relevant costs, do your accounts, tax returns, monitor your RCT deductions help you get onto and maintain the 0% deduction rate and support you in business.
The Sub Contractor with Employees
Where you sub-contract your company and its employees into larger jobs we will help you monitor the cost of each job, assess the appropriate charge out rate for your staff, work with you identifying costs while at the same time taking care of your VAT/RCT/Payroll/Accounts and Tax returns.
The Principal Contractor with Employees and Sub Contractors
As well as all the compliance work covered in the other sections above Accountants for Tradesmen will take care of your sub contractors, contract registrations, monitor payments and deductions.
