Taxation of Maternity Benefit

From July 2013 maternity benefit is to be harmonised with other benefits. From 1 July 2013 income tax will apply to maternity benefit payments. No USC or PRSI is applicable to maternity benefit payments. Note that this applies to employee’s on 1st July 2013 even if they have been receiving maternity benefit prior to this date. PDF

Property Tax Letters

On Monday 11 March 2013 Revenue  begun sending letters  to about 1.6m households regarding the Property Tax. The first payments will be demanded in May. An online property valuation guide is now available on the Revenue website to allow property valuations to be checked. The Revenue Commissioners anticipate a 97% compliance rate PDF

Employer Job Incentive Scheme

If you are an employer you can save money while giving to the community by creating a job. In fact, we had one lucky client who will save €3,225 over the next 18 months. Read on….. The Employer Job (PRSI) Incentive Scheme exempts employers from liability to pay their share of PRSI for certain employees. The scheme is open to employers who create new and additional jobs.To qualify for the Scheme both the job you create and the person you employ must meet certain criteria. If you qualify for the scheme you will be exempt from […]

PAYE Reporting in the UK

Any employers who are running payrolls in the UK need to note that from 6 April 2013 employers will have to start reporting PAYE information to HMRC in real time. This means that employers (or their accountant) will have to:   Send details to HMRC every time they pay an employee, at the same time they pay them. Use payroll software to send this information electronically as part of their routine payroll process.   PDF

The Local Property Tax (LPT)

LPT is based on the market value of the property. The property owner is required to self – assess the value of their property as at 1 May 2013. Where the property is valued at €1m or lower, the tax will be based on the mid – point of the relevant band at a rate of 0.18%. For properties valued over €1 million the tax will be charged at 0.18% on the first €1million of value and 0.25% on any balance in excess of €1million, with no banding applied. The LPT comes into force on 1 […]

Frequently Asked Questions – Sole Trade

Over the last number of months we have received numerous questions by email and blog comment. Below are a selection of the most popular questions relating to setting up a business as a sole trader.   Can I register as a sole trade and continue to work in my current job? Yes. You can register as a sole trade using Form TR1 and continue to work in your current employment. Once registered as a sole trader you are required to submit a tax return by the end of October each year which will include all your income, from […]

Improve it NOW!

A powerful website can attract new business. Again. And again. And again….. So is it not worth  time and investment? Of course it is! So… Take the time now to review your site and improve it NOW. A website is a powerful sales tool which allows you to address your customers’ concerns, give them the information they need to make a decision and create compelling calls to action. Your website is where people can go to seek out information about your company and engage with you on a more personal level. Use it to build confidence […]

Tips for maintaining positive cash flow for your business

In the current economic climate, difficulties with cash flow are quite frequent as customers take longer to pay their bills and banks tighten credit facilities. Be always looking for ways  for maintaining a positive cash flow in your business. Proper advance planning  and proactivity is absolutely essential.   Manage Costs In protecting your bottom line, you not only need to focus on increasing your income, you also need to reduce your expenses. The key to achieving a positive cash flow is to understand your costs and their payment dates and review these carefully at least on […]

The Directors checklist to staying out of trouble with the Director of Corporate Governance!

The 8 main rules of Directors are to: Act in good faith and always act in what the directors consider to be in the company’s best interest. Act honestly and responsibly in the company’s affairs. Act in accordance with the Memorandum and Articles of Association and exercise powers accordingly. Not use company property for own or others use unless approved by the members. Avoid conflicts of interest unless approved by the members. Exercise care, skill and diligence in their dealings on behalf of the company. Have regard to interests of members. Ensure all filings with the […]

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