Just a Coin Flip!

Decisions!  Decisions!  Decisions! We face every single day an overwhelming number of decisions that burden us. We delay to avoid making poor decisions.  We suffer from paralysis by analysis. But there is a quick way to make decisions. Simply flip a coin. Making decisions involves a trade-off between speed and accuracy . We are concerned about speed so we want to spend less time on making a decision. We are also concerned about accuracy so we want to spend more time on making a decision. For minor decisions do you really care about accuracy?  Do you […]

Download Our Free App

So what’s in the App? Invaluable finance and tax information on the go… The Parfrey Murphy app offers 12 specialised calculators to help you with your financial needs, including: Income Tax Payslip Increase Profit Corporation Tax Loan Mortgage Savings Inflation APR VAT Inheritance Tax Stamp Duty The App also provides frequently updated tax tables as well as details of key financial dates. These are great if you’re wondering how certain taxes will affect you. Or to remind yourself when your tax return is due and when your tax needs to be paid. You can also get […]

Slow Down and Stop Making Mistakes

5 SME mistakes

Over the years I have found if I rush my work I am prone to making silly mistakes. So I slow down and review what I have done to make sure it looks right. A quick test for you: You have just five seconds to answer these simple questions: What do cows drink? What’s the opposite of ‘not in’? How much dirt is in a hole measuring two metres squared, and three metres deep? What weighs more – a ton of concrete or a ton of feathers? How many of each animal did Moses take onto […]

Flowering Shares

Flowering shares are a class of ordinary shares issued by a company which entitle the shareholder (employee in this case) to capital generated by the future growth of the business above its current value. Shares are issued at a day one value. When a company reaches an agreed level of future growth (which is known as the “hurdle”) the shares will have an agreed value. This amount can be either variable (based on a percentage) or a fixed amount. The shares are normally available for purchase at a nominal or small amount meaning only minimal outlay […]

GENERAL DATA PROTECTION REGULATION

The General Data Protection Regulation (GDPR) will come into force on the 25th May 2018, replacing the existing data protection framework under the EU Data Protection Directive. As a regulation, it will not generally require transposition into Irish law (regulations have ‘direct effect’), so organisations involved in data processing of any sort need to be aware the regulation addresses them directly in terms of the obligations it imposes. The GDPR emphasises transparency, security and accountability by data controllers and processors, while at the same time standardising and strengthening the right of European citizens to data privacy. […]

Increase your Productivity in Minutes

Peter Gollwitzer, a New York University psychology professor, conducted  studies in the 1990’s to test implementation intentions. In one study he asked his university students to write a report on how they had spent Christmas Eve no later than 48 hours after that day. But he asked only half the students to write down just when and where they planned to work on the essay. When he finished his study he found that of the students who didn’t write down when and where only 32% successfully delivered their essay. The success rate of students who wrote […]

What Burnout Really is

Eric Barker has just published “Barking up the Wrong Tree: The Surprising Science Behind Why Everything You Know About Success Is (Mostly) Wrong. “In this compulsively readable, brilliant kaleidoscope BARKING UP THE WRONG TREE, Barker is your rollicking guide through the science of success. You’ll discover what pirates and inmates can teach us about honesty and generosity, how to network like the world’s greatest mathematician, and much, much more. (Daniel H. Pink, #1 New York Times bestselling author of Drive and To Sell is Human) “Delightfully puckish, evidence-backed and full of insight, this book answers questions […]

Fraud Squad Warning for Limited Companies, Register of Beneficial Ownership and Potential Penalties

Register of Beneficial Ownership

Under the European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2016 (the ‘Regulations’), all Irish companies are now required to set up and maintain a Register of Beneficial Owners. Failure to comply with the Regulations, by a relevant entity or the relevant individual is a criminal offence and can result in the imposition of a fine of €5,000 on summary conviction. There will be a three month period from 26 June 2017 to file the information with the Central Register without being in breach of the duty to file. After 26 September 2017, a […]

Details required to be displayed on a Limited Company’s Website

Every limited liability company which has a website is required to display the following: The name and legal form of the company The place of registration of the company and the number with which it is registered The address of the registered office of the company In the cast of a company exempt from the obligation to use the company type (Companies Limited by Guarantee/Designated Activity Companies) as part of its name, the fact that it is such a company In the case the company is being wound up, the fact that it is being wound […]

REVENUE’S NEW JOBS AND PENSIONS ONLINE SERVICE

Revenue’s new Jobs and Pensions online service allows employees register their new job (or private pension) with Revenue. A tax credit certificate will then issue to both the employer (P2C) and employee ensuring that the employer can deduct the correct amount of tax for that job (or pension). The Jobs and Pensions service replaces Form 12A, so employees must register their first job using this service. The service is also for employees who are: changing jobs where the previous job has been ceased on Revenue records (when the employee signs into the service they will see […]

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