An area which always seems to be topical is Relevant Contracts Tax (RCT). It can appear that some transactions which are appear to be connected with construction are subject to RCT and some other transactions can appear to be caught by RCT which do not appear construction related at all. Essentially in order for a [...]
In a company that is limited by shares the procedure for transferring a shareholding can appear complicated but is in straight forward provided all of the steps are followed. Firstly, whether or not a person is a member of a company is determined by what it says in the company’s various register of members. When [...]
What are the advantages of UK Companies forming an Irish Subsidiary? 1) Irish Companies are subject to Corporation Tax at 12.5%. This is a very competitive rate compared to various other jurisdictions throughout the EU. 2) An Irish Company that makes a distribution to it’s UK parent company, is said to have made a Franked [...]
The due date for filing the Corporation Tax return 2011 has now passed. Reminder letters have recently issued to the Secretaries of companies whose Corporation Tax returns for 2011 have not been recorded as filed by close of business on Friday 25 January 2013. Customers are advised to complete and file the outstanding returns by [...]
The European Union (Value-Added Tax) Regulations 2012 (S.I. 354 of 2012) and the Value-Added Tax (Amendment) Regulations 2012 (S.I. 458 of 2012) transpose into Irish law, Council Directive 2010/45/EU of 13 July 2010. The new legislation simplifies, modernises and harmonises the VAT invoicing rules and in particular eliminates the current barriers to e-invoicing. Paper and [...]
New service that Irish Accounts may offer to clients In accordance with the Code of Conduct on Mortgage Arrears, MARP process, banks offering certain mortgage forbearance arrangements to distressed mortgage holders are required to advise the borrower to seek independent advice on the banks proposals. The Minister for Social Protection have decided that this advice [...]
This August, legislation to increase the threshold for Audit Exemption and the size test relating to Small Companies has finally been enacted. Audit Exemption For Audit Exemption, on or after 7 August 2012 the Balance Sheet Total has been increased to €4,4million and the Turnover limit has also been increased to €8.8m. A company seeking [...]
WHAT IS AN AUDIT An audit is an independent examination on the books and records of a company. It is an area that is highly regulated and subject to external review. For this reason, not all accountants are qualified or authorised to provide auditing services to the public. There is significantly more paper work required [...]