UK Subsistence and IRHA

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UK Subsistence IRHA

The Irish Road Haulage Association (IRHA) have an arrangement with Revenue on the payment of UK subsistence. To avail of this arrangement a firm must be an IRHA member and if not an IRHA member the generic Revenue guidance document for subsistence applies. It is important to note that any payments to drivers in respect of subsistence must be supported by full and compete records. Failure to maintain these records will result in the entire payments made to drivers being treated as taxable, grossed up for tax purposes and PAYE/PRSI/USC being levied on the employer (plus potential Revenue interest […]

Loss of Audit Exemption & District Court Application

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Changes introduced in the Companies (Statutory Audits) Act 2018 from 21 September 2018 mean that audit exemption is now lost for the following two years where an annual return is filed late and not in the current year. So an annual return that has been submitted late does not lose any potential audit exemption for that year but will not be eligible for audit exemption for the following two years. Any late filing penalties must be discharged as usual to the CRO. This change will avoid a costly and time-consuming audit if the financial statements have […]

Payment Services Directive September 14th 2019

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Payment Services Directive 2

Will your ecommerce site still be able to take payments after 14 September 2019? You may have heard the ads on the radio or received emails from your payment processors about the new requirements for payments arising from Payment Services Directive 2015/2366EU – in short PSD2.  It is important that you act on this, as if you do not it is highly likely that customers will start experiencing problems paying online after the mandatory date 14 September which is just a short time away now. At present the only information that is required when making an […]

Local Enterprise Office Marketing Grants

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Is your website looking dated, doesn’t work properly on mobile phones and is generating little or no revenue for your business? If so, why not avail of a Local Enterprise Office (LEO) Trading Online Voucher (TOV) to give your online business a kick-start. If you want a new website or to redevelop an existing site you could be eligible for a grant of up to €2,500 (50% of the development costs) to overhaul your website and get it working for you. A TOV offers small businesses and retailers the opportunity to apply for match funding to […]

Can you believe this?

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Here is the UK Companies House list of the most bizarre excuses for late accounts: Goats ate my accounts I found my wife in the bath with my accountant Pirates stole my accounts We delivered the accounts to the betting office next door to Companies House A volcano erupted and prevented me from filing Slugs ate my accounts It was Valentine’s Day My company was more successful than I thought that it would be, so I was too busy to file HMRC top late tax return clunker: “I couldn’t file my return on time as my […]

GDPR Guidance for a ‘No- Deal’ Brexit

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Cyber Insurance and GDPR Ireland

The Data Protection Commission recently issued guidance on the transfer of personal data from Ireland to the UK in the event of a ‘No-Deal’ Brexit. Are you an Irish company that transfers personal data to the UK (including Northern Ireland)?   See below a non-exhaustive list of examples of ways you might be transferring data to a UK-based company Are you outsourcing your HR, IT or Payroll function to a UK based organisation? Are you using a UK based marketing company to send marketing communications to your customer database? Is your occupational health provider based in […]

Ordinary Resolutions & Special Resolutions

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Ordinary Resolution or Special Resolution

We often advise on and clear up the confusion that exists with company resolutions. A resolution is just a formal name for a decision made at a meeting of a company (AGM or EGM) and a written resolution formally outlines the decision made by the members of the company. Special Resolutions and Ordinary Resolutions are governed by Sections 191-198 of the Companies Act 2014. Ordinary Resolution An Ordinary Resolution deals with the standard actions typically associated with running a company and needs a simple majority under the Companies Act 2014, which is not less than 50% […]

Zero Hours Contracts and Banded Hours

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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 […]

Beneficial Ownership Regulations 2019 (BOR)

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Beneficial Ownership

The 2016 Regulations came into force on 15 November 2016 and have now been revoked and replaced by the European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2019 which were passed on 22 March 2019. Key Features of the Beneficial Ownership Regulations Corporate or other legal entities incorporated in the State shall obtain and hold adequate, accurate and current information in respect of its beneficial owners and the nature and extent of the control exercised by them. A Central Register of beneficial ownership shall be established and corporate or other legal entities incorporated in […]

Dividend Withholding Tax Exemption

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Dividend Withholding Tax Exemption

Where an Irish resident company pays a dividend, it should consider any Dividend Withholding Tax (DWT) implications which may arise. The basic principle is that DWT must be deducted at the time the distribution is being made unless the company has satisfied itself that the recipient is a non-liable person and is entitled to receive the distribution without deduction of DWT. Companies must withhold DWT at the standard rate of tax for the year in which the distribution is made, currently 20%. It must be paid to the Revenue Commissioners by the 14th of the month […]

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