15
12, 2016
12
10, 2016
Budget 2017
Minister for Finance, Michael Noonan, T.D. and Minister for Public Expenditure & Reform, Paschal Donohoe, T.D. today delivered their Budget speeches, in which they have laid out a number of measures aimed at “repairing the damage done to our economy in the past and to ensure that we can look forward to a new Ireland [...]
13
04, 2016
April 2016
Welcome to another edition of the O’Donovan Lavin quarterly Newsletter. The business outlook is improving and entrepreneurial activity is increasing. There remain however in our view barriers to increased activity in the SME Sector which need to be addressed by Banks and Government which we believe are hindering further growth and expansion. The Election is [...]
7
11, 2014
Submission of Financial Statements in iXBRL
XBRL (eXtensible Business Reporting Langugage) is a language that allows the presentation of financial information in a computer readable format. This is achieved by tagging each piece of financial information with a label that identifies it in terms of standard accounting or tax concepts. Standard XBRL is presented as a series of tags and numbers. [...]
27
09, 2014
Corporation Tax & Annual Return Deadline
Are you ready? Corporation Tax If you are trading as a Limited Company, then the Company must submit a corporation tax return nine months after the accounting year end. For example if your Company prepares its accounts to the year ended 31 December 2013, then the Company’ s corporation tax return will be due to [...]
16
08, 2014
Start Up Corporation Tax Exemption
Statistics Over 1,500 Irish Company start-ups were formed last month – the highest for new companies in July since 2007. Company start-ups rose 11% (1,518) in July 2014 when compared to the same month last year (1,371) – this is an average of 49 new companies being formed daily last month. Corporation Tax Exemption New [...]
26
07, 2014
Tax Tips
Start your Own Business (SYOB) Relief & Back to Work Enterprise Allowance (BTWEA) An incentive for individuals who have been long term unemployed (for at least 15 months) prior to starting their own business will provide a two year exemption from the charge to income tax subject to a maximum of €40,000 income per annum. [...]
12
07, 2014
NPPR
Second Home Levy The annual NPPR charge of €200 per property applied for all years 2009-2013. The NPPR has been replaced in 2014 by the Local Property Tax (LPT). In order to maximise compliance and encourage payment of outstanding NPPR charge arrears, section 74 of the Local Government Reform Act 2014 provides that for the [...]
21
06, 2014
Family Farming
SHOULD WE INCORPORATE? The number of farmers opting to trade through a company continues to accelerate. In 2013, the number of farmers incorporating companies increased by 27% compared to 2012. This is primarily due to increased personal taxes and the introduction of the Universal Social Charge. How to Incorporate The most common method of [...]
24
05, 2014
Cash Is King
Q: What is an important factor to consider when running a Business? Cash is the life blood of every business. It is what enables a business to survive and prosper and is the primary indicator of business health. While a business can survive for a short time without sales or profits, without cash it [...]