Diploma in Taxation

Overview

Taxation is an inescapable fact of life. Knowledge of taxation can deliver lifelong benefits, saving thousands of euro annually. The Irish tax code, running to several thousand pages, is complex and a minefield to the unwary. Students of the Diploma in Taxation will be expertly guided through the various taxes and shown the various tips that can save money, and traps that can cost money.

Programme Aims and Objectives

On completion of the programme students should have acquired the skills to:

• Calculate tax liabilities for individuals and companies
• Appraise multiple tax related scenarios
• Identify tax saving opportunities

Assessment

To meet the requirements of the Diploma in Taxation, a student will be required to complete a written case study based assignment (25%) and an in-class assessment (75%) at the end of the programmes.

Course Content

This programme will cover all the main tax heads including Income Tax, Corporation Tax, Value-Added Tax, Capital Acquisitions Tax, Capital Gains Tax and Stamp Duty.

• Tax Basics: Introduction to the Irish Taxation System, the main sources of tax law and structure of the Revenue Commissioners.
• Taxation of the Individual: Persons liable to income tax (Residence, Ordinary Residence and Domicile), the Territorial scope of Income Tax, Scheduler System for taxing various sources of income including rental income, investment income, employment income, benefit in- kind. Reliefs available, tax credits, standard rate cut-off point. Pensions, PRSI and USC. Income tax computations, self-assessment system and preparation of Income Tax Return.
• Taxation of Married Couples, Civil Partners and Cohabitants: Tax treatment of married couples, civil partners and cohabitants. Single assessment, joint assessment and separate assessment. Tax treatment in year of marriage/civil partnership, year of death of spouse/partner. Consequences of marital breakdown and separation.
• Taxation of a Sole-Trader: The taxation of persons operating as a business. How to register for tax, basis of assessment, business expenses, relief available for losses. Relief available for capital expenditure. Income tax computation and preparation of return.
• Capital Gains Tax (CGT): Persons liable to CGT (Residence, Ordinary Residence, Domicile). Territorial scope of CGT. Identification of disposals subject to CGT. Development Land and Shares. Exemptions and Reliefs available (annual allowance, Retirement Relief, Principal Private Residence, Transfer of a Business and other reliefs available). How CGT applies to Married and Civil Partners and CGT treatment of separated and divorced couples. Pay and File System for CGT, calculation of CGT and preparation of CGT Return.
• Value Added Tax (VAT): Persons who must register for VAT, VAT Rates, VAT on Property, VAT Exemptions. VAT computations and Returns.
• Capital Acquisitions Tax (CAT): Gifts and Inheritances liable to CAT. Exemptions (Group Thresholds, Dwelling House Relief, Agricultural Relief, Business Relief, Favourite Nephew Relief, Charities, Retirement Benefits, Gifts from Self). Clawback Provisions. Pay and File system for CAT, Calculation of CAT due and preparation of CAT Return.
• Taxation of a Company (Corporation Tax): Decision to transfer a business to a company. Liability to Irish Corporation Tax (company residence). Taxation of business profits (trading/other receipts), deductibility of expenses, relief for capital expenditure. Losses and trade charges. Tax treatment of capital gains. Close company and surcharge. Corporation Tax groups. Tax treatment of trading overseas. Corporation tax computation, Pay and File system and preparation of returns. Filing of mandatory accounts and iXBRL. Key dates and consequences of late returns.
• Stamp Duty: Documents and transactions liable to stamp duty. Reliefs and exemptions (de-minimus relief, transactions between spouses and cohabitants, consanguinity relief, intra-group transfers, reconstructions and amalgamations). Stampable amount, key payment dates and preparation of Stamp Duty Return.

Structure

The programme will run one evening per week from 6.15pm-8.30pm for 14 weeks.

Career Progression Opportunities

The programme will be beneficial to those participants and business owners wishing to acquire knowledge of the fundamentals of taxation.

Student Profile

Typically, students who have participated on the programme have included business owners, investors, solicitors, accountants, and other professionals. It is also beneficial to those employed in a financial advisory role.

Further Study Options

For students interested in further study to degree level, they may wish to progress to any of the Evening Business Degree programmes at DBS. DBS also offers a Diploma in
Investment & Capital Markets.

Fees

The fee for this Diploma is €1,500 .This is inclusive of tuition, registration, exam fees and DBS library membership. This fee must be paid in full before the course begins.

Visit Us

Open days are a great way to help you make your decision about your course of interest. The open day will give you the opportunity to receive one on one advice and direction from leading academics in your chosen subject area, meet current students and also have your questions answered on entry requirements, student support and the admissions process. Find out when our next Open Event is taking place. The Admissions Office is located in our Aungier Street campus and you are welcome to visit the college to speak with a member of our admissions team from Monday to Fridays, 8:45am – 5:15pm. Alternatively, you can contact us by email.