Zero Hours Contracts and Banded Hours

The Employment (Miscellaneous Provisions) Act 2018 which was passed into law on March 4, 2019 will bring about real changes for Irish employers and employees. This Act deals with written statements, offences, zero hours and banded hours particularly for industries ( including retail, hospitality and tourism) which relied on flexibility with employees on working hours and seasonal activity. It does not apply to employment of continuous service of less than one month. Written Statement The employer shall give a written statement within 5 days of an employee starting employment of: a) the full name of employer […]

BREXIT: VAT Implications for Irish and UK businesses under a no deal scenario

If the UK does not agree to a formal withdrawal agreement by 29 March 2019 then its status under EU law would change from that of an EU Member State of the European Union to that of a third country. The consequences of this change would result in the UK being outside the Single Market and Customs Union and have no trade or cooperation agreements in place with the EU. There would be no transition period in which businesses can complete the necessary changes to accounting systems, compliance reporting and provide for the associated costs in […]

How to Avoid Disciplinary Disasters and Grievance Catastrophes

HOW TO AVOID DISCIPLINARY DISASTERS AND GRIEVANCE CATASTROPHES

The Institute of Chartered Accountants in Ireland recently published advice on employee employment issues. Despite employers often times having sufficient grounds for dismissal, they invariably lose unfair dismissal cases because fair procedures and the rules of natural justice were not adhered to but there are procedures you can follow do to avoid this. It’s unfortunate when an unfair dismissal case is lost because advice from experienced professionals was not obtained before the dismissal procedure was put in place or, in a worst-case scenario, before the dismissal took effect. This is most often the case when it […]

EMPLOYEES ANNUAL TAX FREE €500 BONUS

Employers can reward employees under the Small Benefits Exemption Scheme with a non-cash bonus of up to €500 per year completely tax free. If guidelines are followed neither the employer nor the employee will pay PAYE, PRSI or USC with a potential saving of over €650. To qualify for the tax exemption, only one tax-free bonus may be paid to each employee in any one year. If more than one bonus is given in a year, it is only the first one that will qualify for tax-free status, even if this bonus is less than the […]

Entrepreneur Relief

An individual only may claim relief from CGT in respect of a chargeable gain arising on the disposal of qualifying business assets. There is a lifetime limit of €1 million on the gains made on or after 1 January 2016 that you can claim relief on. If you can claim this relief, you will pay CGT at the rate of 10% on gains from the disposal of business assets. This is reduced from the normal rate of 33%. Up to 31 December 2016, gains from such disposals are charged at 20%. The qualifying business assets must have […]

EY Entrepreneurs of the Year 2018 – Teamwork

Congratulations to Peter Coppinger and Dan Mackey who have won this year’s EY Entrepreneur of the Year Award due to the success of their technology company Teamwork. Based in Cork they create SAAS business management applications to make teams more “efficient, organised and happy” and currently employ more than 200 people servicing 22,000 customers in nearly every country in the world. This award is a great boost to not only the team at Teamwork but also to Cork’s technology reputation. They include among their many clients Forbes, PayPal, Netflix, Disney, Forbes and Spotify. A goal is to […]

Hard Brexit – UK Customs Procedures

HMRC in the UK recently issued guidance just in case the powers that be fail to reach agreement and the UK crashes out of the EU on 29th March 2019 – a so-called hard Brexit. This may be useful for Irish importers and exporters. Customs procedures with a “no deal” Brexit   Essentially the two-way free movement of goods between the UK and the EU will cease and the raft of changes that firms trading with the EU will need to accommodate are significant. Whilst the political process is deadlocked, or so it would seem, the […]

GONE PHISHING – 9 PROTECTION GUIDELINES

There is no single fool-proof way to avoid getting hooked by phishing scams. However there are some basic guidelines to keep safe: Never give out personal information. Generally you should never share financially sensitive or personal information over the internet with anyone. Never use links provided in emails to provide confidential information. Think before you click. In Outlook turn on your reading pane as this helps identify suspicious emails before you open them and it gives you time to think before you click. It is always best to think first before you click rather than click […]

Payroll 2018

The following is a brief introduction to payroll including how to register the business and employees, how best to operate a payroll system and details of what Revenue returns are required. Registering as an Employee The first step in registering employees is to register the business as an employer. This is usually done when first registering for tax by submitting either Form TR1 (sole-traders and partnerships) or Form TR2 (companies) to the local tax district. Tax registrations are now mostly completed online using the Revenue Online Service – ROS at www.revenue.ie. Registering as an Employee The onus on […]

General Data Protection Regulation

The new General Data Protection Regulation (GDPR) will be coming into force across the EU on May 25 next. The Regulation makes significant and in some areas radical changes to current policies which have been based upon the existing EU Data Protection Directive. The new Regulation transfers ownership of an individual’s personal data from the data holder to the individual concerned, the data subject. In future all companies and organisations are legally bound to respect not only the data but also the rights of the individual over all of his or her personal data. These rights […]

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