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Irish Accounts Blog

JobPlus Initiative- Department of Social Protection Announces a new scheme to recruit staff

What is the JobsPlus Incentive? JobsPlus Incentive is a new employer Incentive which encourages and rewards employers who offer employment opportunities to the long term unemployed. This Incentive will replace the Revenue Job Assist and Employer Job (PRSI) Exemption Scheme from 1st July 2013. Regular cash payments will be made to qualifying employers to offset […]

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VAT Invoicing – New Rules as from 1 January 2013

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 […]

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New service that Irish Accounts may offer to clients

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 […]

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Changes in Company Law- Increase in Audit Exemption Limits and Smalll Company Thresholds

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 […]

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Audit and audit exempt companies in Ireland

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 […]

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Pay and file deadlines for Income tax 2012.

A tax payer operating as a sole trader is required to submit their 2011 income tax return before 31 October 2012. On this date, they must also pay the balance of the income tax due for 2011 and their estimate of preliminary tax for 2012 in order to avoid any interest or penalties. Failure to […]

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Setting up a Holding company in Ireland

Introduction Ireland is now a most attractive country for setting up a holding company location. Strategically placed for conducting business in America, Europe and Asia in the same day, it is an English speaking jurisdiction ideal for the establishment of an EU and International Holding Company. Passive Income Earned by an Irish Company (dividends and […]

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The Draft Companies Bill – Summary of Key Provisions

The Company law review group (CLRG) has published the first of two volumes setting out a new regime for private companys limited by shares in Ireland. The second volume will deal with all other types of companies and this will be published within the next 12 months. Instead of having just one set of laws […]

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