Expert Business People to Avoid

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Jim Connolly, the marketing expert, advised recently that there are certain people you need to avoid. Some are easy to spot The web designer, whose website looks ugly. The marketing expert, who has to attend networking groups because their marketing doesn’t work. The guru, who claims to be in demand, yet offers free consultations. The copywriter, whose content is uninspiring.  Others are harder to spot The strategist, whose own strategy isn’t working. The accountant, who understands the numbers but can’t express what they mean to your business. The PR person, whose own PR doesn’t create any […]

Budget 2017

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BUSINESS TAX CORPORATION TAX RATE The Minister reiterated in his Budget speech that the 12.5% Corporation Tax rate will remain in place indefinitely. CAPITAL ALLOWANCES The deduction for capital allowances for intangible assets, and any related interest expense, will be limited to 80% of the relevant income arising from the intangible asset in an accounting period. The scheme of accelerated capital allowances for energy efficient equipment is being extended to 31 December 2020. VAT The 9% VAT rate on tourism and services sector is retained. An increase in the VAT rate on sunbed services from 13.5% […]

The Dreaded Annual Return Date (ARD) for Limited Companies!

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A limited company’s Annual Return date (ARD) is the date the Annual Return form is made up to for filing with the Companies Registration Office (CRO). The Annual Return form B1 must be filed within 28 days of the ARD otherwise the company’s Financial Statements will be subject to audit for 2 years. The first ARD date is 6 months after the company has been incorporated and cannot be changed. After the company year-end date has been decided, the second ARD can be extended by six months maximum by filing forms B1 and B73. However there […]

Setting up an Irish Limited Partnership

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The Limited Partnerships Act 1907 regulates partnerships in which some members have limited liability for the debts of the partnership as their liability is limited to the extent of the amount of capital contributed by them to the partnership. A partnership may be made up of natural persons and bodies corporate. It is not a separate legal entity and accordingly has no legal personality separate and distinct from the partners who form the partnership. Therefore the partners can be sued in their own names. To form a limited partnership in Ireland, the partnership must have at […]

Just a Coin Flip!

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Decisions!  Decisions!  Decisions! We face every single day an overwhelming number of decisions that burden us. We delay to avoid making poor decisions.  We suffer from paralysis by analysis. But there is a quick way to make decisions. Simply flip a coin. Making decisions involves a trade-off between speed and accuracy . We are concerned about speed so we want to spend less time on making a decision. We are also concerned about accuracy so we want to spend more time on making a decision. For minor decisions do you really care about accuracy?  Do you […]

Download Our Free App

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So what’s in the App? Invaluable finance and tax information on the go… The Parfrey Murphy app offers 12 specialised calculators to help you with your financial needs, including: Income Tax Payslip Increase Profit Corporation Tax Loan Mortgage Savings Inflation APR VAT Inheritance Tax Stamp Duty The App also provides frequently updated tax tables as well as details of key financial dates. These are great if you’re wondering how certain taxes will affect you. Or to remind yourself when your tax return is due and when your tax needs to be paid. You can also get […]

Protect Your IP, Brand, Trade Name and Online Presence

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Protect your Online IP

IE Domain Registry have proposed a policy change which will make dot ie domains easier and faster to register. From January 2018, a business won’t need to provide a valid claim to register a .ie domain name. This means that anyone with a connection to Ireland can register any dot ie domain name they want. This is a big change to how dot ie registrations work. The Registry currently check every dot ie domain registration to ensure that the applicant has a valid claim to the domain name and a connection to the island of Ireland. […]

Slow Down and Stop Making Mistakes

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5 SME mistakes

Over the years I have found if I rush my work I am prone to making silly mistakes. So I slow down and review what I have done to make sure it looks right. A quick test for you: You have just five seconds to answer these simple questions: What do cows drink? What’s the opposite of ‘not in’? How much dirt is in a hole measuring two metres squared, and three metres deep? What weighs more – a ton of concrete or a ton of feathers? How many of each animal did Moses take onto […]

Flowering Shares

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Flowering shares are a class of ordinary shares issued by a company which entitle the shareholder (employee in this case) to capital generated by the future growth of the business above its current value. Shares are issued at a day one value. When a company reaches an agreed level of future growth (which is known as the “hurdle”) the shares will have an agreed value. This amount can be either variable (based on a percentage) or a fixed amount. The shares are normally available for purchase at a nominal or small amount meaning only minimal outlay […]

European Economic Interest Groupings (EEIG)

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An EEIG is a mechanism through which businesses within the EU can engage in cross-border commerce. The creation of the EEIG is an effort to develop economic activity throughout the EU and to create a single market offering conditions similar to those of a national market. It is designed to minimise the legal and fiscal difficulties that natural persons, companies, firms and other bodies face in cooperating across borders. EEIG’s are regulated under SI No. 191 of 1989 – European Communities (European Economic Interest Groupings) Regulations 1989, and SI No. 447 of 2010 European Communities (European […]

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