FULLY ELECTRONIC FILING OF ACCOUNTS AVAILABLE FROM 10TH MARCH

Section 3 and 4 of the Companies (Miscellaneous Provisions) Act 2013, will be commenced on Monday 10th March 2014. This Act removes the requirement for accounts documents filed with the CRO to include handwritten signatures of Directors, Auditors etc and instead requires that the signatures appear in TYPED form on each document. Where accounts with typed names only are delivered to the Registrar, the Act requires them to be certified by a Director and Secretary of the company, in either electronic or written form, stating that each of the accounts documents annexed to the annual return […]

Quick Daily Marketing Ideas

Ric Willmott the Australian business consultant and author advises that you should: “Every day engage in marketing activity to attract potential clients to you and your offerings. Invest 20-40 minutes every day and the momentum will build that it actually becomes harder to stop than to continue. What can you do? Send a handwritten note to a client. Take an existing client to coffee to talk about them — not you. Give a referral to an existing client or a colleague. Ask for a referral. Ask for a testimonial. Write and disseminate a press release. Write […]

SEPA Update

The Single Euro Payments Area (SEPA) is a means by which electronic payments denominated in euro are to be standardised across Europe. SEPA is operational since 1 February 2014. The Revenue Commissioners have completed the necessary works to process electronic payments within the Single Euro Payments Area. An International Bank Account Number (IBAN) and a Bank Identifier Code (BIC) will now be required to make/receive euro electronic payments i.e. Direct Debits / Credit Transfers. Where customers have already provided bank account details, using sort code and account number, to make tax payments or receive tax refunds, […]

The Big Switch – Will This Save You Money?

One Big Switch launched in Ireland this month with the Big Energy Switch, a campaign to unlock group discounted electricity and gas. This national group switching campaign is the first of its kind in Ireland, and is a campaigning technique pioneered by One Big Switch globally. Oliver Tattan, an Irish entrepreneur who has spent the best part of the last decade building businesses that drive competition and better consumer outcomes in the Irish health insurance market, brought one Big Switch to Ireland. He saw that as the financial crisis slowly receded, Irish consumers were facing an affordability crisis, […]

Taxation Tips You Can Avail of Before 31 October 2014

1.      Deadline date. Late filing will result in an automatic late filing surcharge of 5% of the tax liability if a return of income is filed within the first two months of the deadline and 10% of the tax liability if filed thereafter. Please note for directors the surcharge is based on the income tax liability before any credit for PAYE tax paid by the director. Revenue can also impose interest and penalties on the late payment of your income tax liability. 2.      Trading via a private limited company. The annual profits of a company are […]

Updates to Xero Profiles

Changes have been made to the way your personal Xero Community profile looks. This means that your Xero Community profile will show the following information differently: Your display name will be your Xero user account name Your location will match the regional version of Xero that you use If you’ve uploaded an image, it will appear in your profile. Of course, you still have complete control over what you show and don’t show. Take a look at your profile to make sure however, that you’re happy with what people can see. There will, of course,  be available […]

Latest Email Scam

Please be aware of fraudulent emails purporting to come from the Revenue Commissioners. The emails are seeking personal information from taxpayers in relation to a tax refund. These fraudulent emails are headed “Notice of Tax Return” and could potentially look something like this: “Dear Sir / Madam, I am sending this email to announce: After the last annual calculation of your fiscal activity we have determined that you are eligible to receive a tax return of: EUR 371.91 To receive your return, you need to create a Government gateway account.  Please download and complete the attached […]

New VAT rules for the place of supply of Telecommunications, Broadcasting & Electronic Services

With effect from 1 January 2015 new EU VAT rules in relation to the supply of the above services will come into effect. Currently the place of supply rules are: –          Supplies to private individuals within the EU by a supplier  established in the EU, the place where the supplier is located. –          Supplies to private individuals within the EU by a supplier established outside the EU, the place where the customer is located. With effect from 1 January 2015 the place of supply of the above services will be where the consumer resides. This means […]

Single Person Child Carer Credit

Up to and including the tax year 2013 the One Parent Family Credit was available to a parent (not living with a partner) and whose child lived with them for at least part of the year. With effect from 1 January 2014, the Single Person Child Carer Credit replaces the One Parent Family Credit. This credit is different to the One Parent Family Credit in that it is primarily only available to the primary claimant i.e. the person with whom the qualifying child resides for the whole or greater part of the year. The credit can […]

VAT NUMBER CHECK

You can check the validity of any EU VAT number by logging onto the following website: http://ec.europa.eu/taxation_customs/vies/vieshome.do?selected Procedure: Enter Member State of customer from drop down list Enter VAT number (without country prefix) Click on “Verify” The system will tell you whether the VAT number is valid or invalid. Some EU Member States provide information such as customer name and address on this site but the majority only inform the user whether the VAT number entered is valid or invalid. If you need to verify that the name and address for your EU customer correspond with […]

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