JobPlus Scheme

With effect from 1 July 2013 the above scheme will replace the Revenue Job Assist  and Employer Job (PRSI) Exemption Scheme. The aim of the JobPlus Scheme is to encourage employers to employ long term unemployed individuals. The new incentive will be paid monthly in arrears over a 2 year period (by 24 monthly instalments) and is divided into two levels: (1)    Payment of €7,500 in respect of those who have been out of work for at least 12 months. (2)    Payment of €10,000 in respect of those who have been out of work for over […]

Submitting a Local Property Tax Return – Avoiding a Surcharge

If an individual has to submit a Local Property Tax (LPT) return and has not done so by their income tax return filing date i.e. 31 October 2013, he / she will liable to a surcharge on his / her income tax liability. This is in accordance with S38 of the Finance (Local Property Tax) Act 2012 which links the submission of a LPT return with an income tax return. The implication of this section is where a LPT return is due and the return and payment are outstanding, the individual’s income tax return is also […]

Importance of Internal Communication within the SME

In smaller businesses internal communication is an oft overlooked concept. Many businesses believe that the fewer the people the clearer the objectives. This however, is not always the case. Even within SMEs people can find themselves specialising or taking on specific roles, in the process losing sight of the big picture.   Janine Popick of verticalresponse.com offers the following advice to ensure effective communication:   Do not underestimate the value of internal meetings. Give each department within your business a chance to relay achievements or interesting developments in their area. Allow questions and participation. The more […]

€200 Annual Charge on Non Principal Private Residences

  The Local Government Act 2009 introduced a  €200 annual charge on non principal private residences, payable by owners to the local authority in which the property in question is situated.   Collection of the charge for 2013 commenced on 31 March 2013. The 2013 charge is based upon the ownership of the property on 31 March 2013.   The 2013 charge must be paid on or before 30 June 2013 to avoid late payment fees.   Late payment fees are significant and any accumulated late payment fees will form a charge on the property concerned. It […]

Introducing New Shareholders to a Limited Company – Transfer of Shares

As discussed in our blog of 22 May, new Shareholders can be introduced to a company in 2 main ways, the allotment of shares and the transfer of shares. In their basic form, allotment and transfers are a simple procedure, however it is important to understand the basic requirements as these are the important part of more complex transactions like Share for Share Exchanges and Share for Undertaking. Transfer of Shares Shareholders have the ability to transfer their shares to existing shareholders or third parties. This allows shareholders to sell their shares or for companies to […]

Introducing New Shareholders to a Limited Company – Allotment of Shares

New Shareholders can be introduced to a company in 2 main ways, the allotment of shares and the transfer of shares. In their basic form, allotment and transfers are a simple procedure, however it is important to understand the basic requirements as these are the important part of more complex transactions like Share for Share Exchanges and Share for Undertaking. Allotment of Shares The allotment of shares is the issuing of new shares to the existing shareholders or to third parties. The Directors of a Company may allot shares in the capital of the Company, if […]

New €5 Notes

Over the last two weeks many consumers may have seen the new €5 notes that have been put into circulation by the The Central Bank of Ireland as part of the new ‘Europa series’ of banknotes which are to be phased in over a number of years. The new note is the same size and is similar in appearance to the previous note. New security features include: A portrait watermark of the Greek goddess Europa, raised lines along the sides of the note a shiny emerald colour number and a portrait hologram of Europa. The new […]

Local Property Tax – Employers Responsibility

The Local Property Tax (LPT) deadline for filing paper returns has now passed and individuals liable to the LPT have until 28 May 2013 to file the LPT return electronically. When filing the return the Revenue gives property owners the option to pay their LPT for 2013 in one single payment or to phase their payments over the period from July to December 2013. One of the phased payment options being made available is the deduction at source from salary or occupational pension. Therefore employers will be required to make this facility available to their employees from […]

Why should I care about good accounting records?

Generally, business owners don’t understand the importance of having good accounting records. They usually hire a bookkeeper and a professional accountant to do their accounts and taxes and then forget about it. A business where the owner understands the importance of good numbers is one of the main things that distinguishes a successful business from those that fail. The following are the main reasons why business owners should have accurate and timely financials information: Lack of adequate record keeping is a major cause of business failure. If you don’t understand your numbers, you can’t manage them. […]

Tools Take Time!

In this fast-paced business world, have you taken the time to research the new tools available to make your business run better? Many of you are probably thinking, “I don’t have time to look into that.” But let’s think about that. If you were to utilise some new tools out there, you would probably have more free time to improve your business. Tools that can improve the business’s efficiency include cloud computing, e-invoicing (cost savings), timesheets (controls on work performance) and many efficiency apps. These tools can save time and money. So it is vital to […]

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