1. New RCT system to be introduced in 2012 Work is well advanced on developing a new system, which is expected to be introduced on 1st January 2012. It will be subject to a commencement order to be signed by the Minister for Finance. From 1st January 2012, all relevant contracts, including those that are ongoing [...]
The revenue have clarified the position for employers and employees in respect of BIK on professional subscriptions. Up to 31 December 2010, the payment or reimbursement of an annual membership fee of a professional body, on behalf of an employee, by an employer did not give rise to a taxable benefit-in-kind if membership of that [...]
One area which often comes up as a topic during Revenue Audits is the question of whether a person should be classified as an employee or self employed. In a lot of cases, the business owner will want the employee to be treated as a self employed individual because 1) There will be no liability [...]
Proper bookkeeping is often overlooked by a start-up company in the rush to make new sales. Your accounting data is a critical business resource. It is important that you know your position with creditors, customers, banks and taxes. Are you making a profit or a loss? If not what should you do to change this? [...]
In any business payroll can be looked on as one of the most important functions in a business. People need to be paid the correct amount of pay and the correct tax needs to be paid over to the revenue. Today there are many payroll packages on the market which can claim to carry out [...]
Every registered company in Ireland is required to file its accounts and annual return with the Company’s Registration Office (CRO) by its Annual Return Date (ARD). The company’s ARD is unique to each company and the accounts and annual return must be filed within 28 days of this date. If the return is late then [...]
This is a big area of confusion for start-ups when it comes to deciding on the appropriate business structure for their business. Business name In Ireland, if you set up a business and you are not trading under your own personal name, you are required to register it with the Companies Registration Office (CRO). The [...]
Choosing the right accountant is a critical decision for your business as you need to be able to trust and rely on them to provide critical advice and information going forward. But who should you choose? How much should you pay? You first need to establish what services you actually need. Are you able to [...]