Hard Brexit – UK Customs Procedures

Posted on September 14, 2018 by Noel Murphy

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 […]

Enterprise Ireland Innovation Vouchers

Posted on September 14, 2018 by Seamus Parfrey

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

Posted on September 14, 2018 by Seamus Parfrey

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

Posted on August 29, 2018 by Seamus Parfrey

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

Posted on August 29, 2018 by Seamus Parfrey

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 […]

GONE PHISHING – 9 PROTECTION GUIDELINES

Posted on August 29, 2018 by Noel Murphy

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 […]

A SURE INVESTMENT – STARTUP REFUNDS FOR ENTREPRENEURS

Posted on July 30, 2018 by Seamus Parfrey

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

Posted on July 30, 2018 by Seamus Parfrey

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

Posted on June 29, 2018 by Seamus Parfrey

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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Parfrey Murphy

Business Growth Specialists
and Tax Consultants