On completion Learners will be able to:
- Explain the key terminology associated with personal taxation in preparing and maintaining payroll records both manually and on the computer.
- Outline the advantages and disadvantages of a computerised system over a manual one for payroll processing purposes.
- Process the payroll for employee(s), using manual and computerised systems, under the cumulative tax system, to include; various elements of gross pay, holidays, unpaid leave, cut-off points, credits, all statutory and non-statutory deductions.
- Process the payroll for employee(s), under the emergency and temporary tax systems and subsequent transfer to the cumulative tax system.
- Demonstrate the changes in personal tax due to various factors to include; mid-year commencement and leaving of employment, changes in credits,refunds.
- Extract information from completed records to prepare all necessary mid – year and year end tax forms for employees.
- Extract information from completed records to prepare all necessary end – of-period and year end returns and tax forms for the Revenue Commissioners.
- Assess the effect of using alternative assessment methods to calculate the annual tax liability of
- married couples.
- Analyse the impact of changes in legislation on personal tax and take -home pay by comparing two tax years
- Print a selection of reports after backing up computerised data on a suitable medium.
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