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RCT in a nutshell

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  • 01-07-2015 2:42pm
    #1
    jos28
    Registered Users Posts: 7,190 ✭✭✭


    I have an interview for a bookkeeping position with a school tomorrow. I'm just going through the job spec and noticed RCT returns(in the small print). I understand the principles of RCT but haven't much experience of using the system. I can't imagine there will be a huge amount of RCT records for a school but I obviously need to have an idea of what's involved. i understand that the Board of Management acts as the Principal contractor, is this right ?
    Could some kind person give me a couple of pointers.


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    #2
    Alan Shore
    Registered Users Posts: 735 ✭✭✭Alan Shore


    Yes the school is regarded as a principal for RCT. They have to register for VAT and input a payment notifications for all payments to builders.

    They also have to self account for VAT for some stupid reason.


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    #3
    dbran
    Moderators, Business & Finance Moderators Posts: 2,094 Mod ✭✭✭✭dbran


    If you just Google "RCT and Schools" the first thing that comes up is the revenue guide to rct and schools.


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    #4
    jos28
    Registered Users Posts: 7,190 ✭✭✭jos28


    Thanks folks


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