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 […]

VAT MINI ONE STOP SHOP (MOSS) SCHEME

On 1 January 2015, new EU VAT rules came into effect with regard to the supply of “TBE” services made to private consumers located in the EU (i.e. supplies of “Telecommunications, Broadcasting and E-Services”). The term “e-services” is potentially far-reaching, but has been defined for these purposes as only including services that are supplied electronically which are essentially automated with little / no human input. Thus delivering a course via the internet, for example, is an e-service for VAT MOSS purposes if the service is automated and involves no or minimal human intervention to deliver. It […]

What the Experts Said

Personally I am always ready to learn, although I do not always like the thought. Winston Churchill. The best executive is the one who has sense enough to pick good men to do what he wants done, and self-restraint enough to keep from meddling with them while they do it. Theodore Roosevelt. Whoever desires constant success must change his conduct with the times. Niccolo Machiavelli. Nothing stops an organisation faster than people who believe that the way they worked yesterday is the best way to work tomorrow. To succeed, not only do your people have to […]

Subsistence Rates 2015

Subsistence Rates 2015

Overnight Allowance Day Allowance Normal Rate Reduced Rate Detention Rate 10 hours or more 5 hours but less than 10 hours €125.00 €112.50 €62.50 €33.61 €14.01   Previously allowances were divided into class A and Class B, this has now been discontinued with effect from 1 July 2015. An overnight allowance covers a period of up to 24 hours from the time of departure, as well as any further period not exceeding 5 hours, which is necessarily spent overnight at least 100km away from the employee’s home and normal place of work. A day allowance applies […]

Capital Acquisitions Tax (CAT) Update 2016

Capital Acquisitions Tax (CAT) comprises an Inheritance tax charged on taxable inheritances taken and a gift tax charged on taxable gifts taken. Very simply an inheritance is a gratuitous benefit taken on a death and a gift is a gratuitous benefit taken otherwise than on a death. The tax is currently charged at 33% on the taxable value of the gift or inheritance above the appropriate threshold. The taxable value is arrived at by calculating the market value of the gift or inheritance and then deducting any specific allowable amounts and any consideration paid by the […]

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