Income Tax refund 2014

As there is a four year limit on claiming Income Tax refunds, 31 December 2018 is the deadline date for filing your 2014 return if you are entitled to a refund. If you file your claim after that date you will not receive any refund. In 2017 Revenue stated that refunds on tax credits totalled €27.6m. The average refund is about €900/€1,100. It is opportune that you check your position for 2014 and subsequent years to ensure you receive your correct tax credits and allowances for items such as medical expenses, nursing home fees, tuition fees […]

Entrepreneur Boot Camp

Entrepreneur Boot Camp

Gerard Moran of the Entrepreneurial Boot Camp has provided the following content. His Entrepreneurial Boot Camp’s sole purpose is to take a hard look at your business plan with a detailed review of your business and the likelihood of the success of the plan. It’s also a chance to address the shortcomings and develop answers to tough questions before it is too late. Entrepreneurial Qualities Vision, creativity, persuasiveness, risk tolerance, motivation, flexibility, and decisiveness are the qualities that set you apart from the average person.  Your business at all times will need to keep a careful […]

Drucker’s Pricing Sins

In his book Managing in a Time of Great Change Peter Drucker writes on the five deadly business sins – avoidable mistakes that will harm the mightiest business. The first and the most common sin is the worship of high margins and of premium pricing as it always creates a market for competitors. And high profit margins do not equal maximum profits. Total profit is profit margin multiplied by turnover. Maximum profit is thus obtained by the profit margin that yields the largest total profit flow and that is usually the profit margin that produces optimum […]

Enterprise Ireland Innovation Vouchers

Enterprise Ireland Innovation Vouchers

Introduction The Innovation Voucher initiative was developed for small businesses to purchase academic support and expertise from Ireland’s public knowledge providers. Innovation Vouchers worth €5,000 are available to assist a company to explore a business opportunity or problem with a registered knowledge provider. The Innovation Vouchers initiative is open to all small and medium-sized limited companies registered in Ireland. 81% of applications are successful. The main reasons for non- success are non-eligibility of the applicant insufficient information, ineligible activity and low level of innovation. If unsuccessful you can reapply.   Exclusions Small and medium-sized enterprises in the […]

PAYE Modernisation

PAYE Modernisation

Introduction PAYE modernisation is a real-time reporting (RTR) payroll system which takes effect on January 1, 2019 and will enable Revenue to ensure that employees are receiving their correct tax credits and cut-off points so that the correct deductions are being applied for every employee throughout the year when they are paid as compared to the current PAYE reporting system which is done by the preparation and filing of P35’s on an annual basis. This ensures that Revenue have accurate information for employees at all times and also employees will have full online access in real […]

7 ESSENTIAL BUSINESS STRATEGIES

To succeed in business, you need to decide on what strategies to implement depending on circumstances. Decide on which of the following strategies you are going to implement immediately. Be customer orientated Put your customer first and ensure that your service performance is second to none. Never lower your standards. Touch base regularly with your key customers and listen to their suggestions on how you can improve your service.   Focus on planning Prepare a written formal strategic plan where you document what your current position is and where you personally want to be in 5 […]

IMPROVE YOUR COMMUNICATION SKILLS

According to Martin Seligman, the father of positive psychology, how we communicate with people can create an enormous impact on our relationships especially when we use positive, active, constructive communication. At work how do you respond to the question – “can you help me with this problem?” There are four typical types of communication responses.   Active destructive (pointing out negative aspects of the situation): “it’s not really my job to help you and I am extremely busy at present”.   Passive destructive (ignoring the circumstances of the person completely): “I think I will meet John […]

A SURE INVESTMENT – STARTUP REFUNDS FOR ENTREPRENEURS

SURE – Startup Refunds for Entrepreneurs is a tax relief incentive scheme. You may be entitled to an income tax refund of up to 41% of the capital that you invest in your own company under SURE. Depending on the size of your investment you may be entitled to a refund of income tax paid over the 6 years prior to the year in which you invest. Main Conditions The conditions for SURE are that an investor must: Establish a new company carrying on a qualifying trading activity Have mainly PAYE income in the previous 4 […]

Involuntary Strike Off Reasons

The Companies Registration Office (CRO) can have a company struck off its Register if: The company has failed to make an Annual Return. The CRO believe that the company does not have: A European Economic Area (EEA) resident director or A Section 137 Bond if the director is non resident in the EEA or A real continuous economic link to the State. The company is being shutdown and the CRO believes that no liquidator is acting. The company is being shutdown and the CRO believes the company is fully shutdown and returns by the liquidator have […]

6 EASY WAYS TO DIGITALLY PROTECT YOURSELF – THE UPDATE PROTOCOL

Marc Goodman has worked with the FBI and Interpol and in his New York Times bestseller “Future Crimes” outlines that everything is connected, everyone is vulnerable and what we can do about it. He advocates the UPDATE Protocol which provides practical everyday tips to protect yourself and your business from today’s most common technological dangers. By following this protocol (the digital equivalent of locking your front door and not leaving the car keys in the ignition) you can avoid more than 85% of the digital threats that pervade our lives daily.   Update Update frequently as modern […]

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