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Tax Question

McLeaf · 2011-07-17 11:27:21

Hi. Hope this is not in the wrong area. At the moment I am trying to draw up a business plan for the Back to work Enterprise allowance and am using the Toil and Trouble book that the Social welfare give you. The problem is that the book was printed in 2009 and I am not sure if it has the correct tax rates for 2011. Any…

17-07-2011 11:27am

#1

McLeaf

Closed Accounts Posts: 2 ✭

Join Date: July 2011

Posts: 0

Hi. Hope this is not in the wrong area.

At the moment I am trying to draw up a business plan for the Back to work Enterprise allowance and am using the Toil and Trouble book that the Social welfare give you. The problem is that the book was printed in 2009 and I am not sure if it has the correct tax rates for 2011. Any help would be greatly appreciated

In the book it says that the tax calculations are done up the following way:

Tax Calculations

Income Tax 20% of Net Profit

Minus
Single Person’s Tax Credits

Plus

2% Income levy on Gross Profit

Plus

PRSI
3% of Net Profit

Equals

Total Tax Due

Has this changed much from 2009 or is it still the same calculations. Need to know as I want to be sure of any tax issues before they arise.

Thanks

0