If you don’t take care in naming your performance measures, you end up with problems like different measures having the same name, the same measure having different names, and people getting confused about what the measure is about. That’s messy. So don’t take naming your measures too lightly… Continue reading →

Sole Traders or Partnerships wishing to incorporate their businesses in Ireland may avail of a wide number of benefits. Continue reading →

It is inevitable that family businesses valuing billions of dollars will change hands over the next decade as the baby boomer generation pass their businesses on. Many of those retiring currently have no succession strategy. To achieve the best possible outcome, owners need to understand the many complex family, individual and business issues that must be addressed in the succession process. Continue reading →

CONSUMER confidence hit a six-year high in September, according to new data.

The survey was conducted before last month’s Budget, the latest controversy surrounding the property tax, or the revelations this week about the increases set to be imposed on health insurance premiums. Continue reading →

Extension to newly eligible VAT, PAYE/PRSI and RCT customers

Reductions in the filing and payment frequencies for VAT, PAYE/PRSI and RCT by smaller businesses are being extended to eligible customers from 1 January, 2014. Continue reading →

Three key enhancements to the research and development (R&D) tax credit regime were announced by the minister in Budget 2014. The stated intention is to implement some of the recommendations from the ‘Review of Ireland’s Research and Development (R&D) Tax Credit 2013’ report which was published alongside the Budget. Continue reading →

“You’ll get square eyes!” my mother used to warn me when I was a child, and she thought I was watching too much TV. It’s not true, but it is true that what we look at most does certainly influence our sight. How is our sight influenced by looking at short-term targets? Continue reading →

You have devised a great strategy for your company and all the indicators show that you should get a big return on investment. Yet when the year comes to end the results have brought not what the strategy suggested. What has happened? You spent so much time in getting the strategy right and now there is little to show for it. Unfortunately, this scenario is more common then you would think. Continue reading →

New Shareholders can be introduced to a company in 2 main ways, the allotment of shares and the transfer of shares. In their basic form, allotment and transfers are a simple procedure, however it is important to understand the basic requirements as these are the important part of more complex transactions like Share for Share Exchanges and Share for Undertaking. Continue reading →

We are pleased to provide our summary of the main taxation measures announced yesterday by Minister Noonan in Budget 2014, as well as a comment on its economic backdrop.
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REVENUE ACTIVITY

Consultant’s Project

Revenue identified single employee consultancy companies as an area for concern and have targeted this area with audits throughout the summer. The focus of these audits are mileage and subsistence claims, expense payments and payments to family members. Revenue indicated that erroneous expense claims would be treated as deliberate behaviour for the purpose of determining the penalty attached to any underpaid taxes.  Continue reading →

Ireland is committed to being an innovation and commercialisation hub. This requires Ireland to offer a highly attractive incubation environment for Irish and overseas entrepreneurs and to be an attractive home for innovative multinationals.

The last few years have seen the adoption of a number of measures aimed at assisting Ireland to become an attractive jurisdiction for highly mobile innovative investment. These are accompanied by a number of additional general tax measures which improve the attractiveness of doing business in and from Ireland. Continue reading →

With increased personal taxes and the introduction of the Universal Social Charge, some family businesses are considering incorporation of their trading activities.  Incorporation can offer real advantages for sole traders who could potentially structure their business to pay tax at 12.5% versus 55%, where the profits are being re-invested in the business.

Incorporation can provide a real opportunity for certain entrepreneurs to plan and manage taxes efficiently however succession and business profits are the critical issues to consider particularly given potential further changes in capital gains in the next budget due to be announced on the 15th October, Continue reading →

Irish shoppers are set to double their spending online in the next five years, a new survey has revealed.

According to the report on ecommerce in Europe by research firm Mintel, Irish consumers spent €1.4 billion online last year, up from €723 million in 2008. That figure is set to increase to €2.8 billion by 2018, Mintel said.

The report found 35 per cent of people in Ireland had bought goods or services online in a three-month period, a little over half the figure in the UK, where online sales recorded a level of 65 per cent among the population.

Along with Germany and France, the UK is among the top ecommerce markets in Europe. Ireland sits mid-table. Relative to their populations, Norway and Sweden top the tables.

The report, which looked at 19 markets in Europe, indicated that online shopping was still in its infancy, with ecommerce sales not exceeding 10 per cent in any of the markets examined.

The proportion of all sales generated online in Ireland is curently about 4.3 per cent. That is estimated to rise to 4.9 per cent by the end of this year, before reaching 7.6 per cent by 2018. Compared with the UK, where 2018 will see online shopping account for 15.2 per cent of all sales by 2018, Ireland is still lagging.

Clothes

Most shoppers here go online to buy clothes and sports goods, with books, magazines and elearning materials also popular.

Overall, the report predicted a 13 per cent rise in Europe’s online shopping market to €188 billion this year, with online sales almost doubling from 2012 levels by 2018.

The report discounted purchases of services such as travel or event tickets, and also eliminated digital downloads and streaming, and private sales between consumers such as on eBay. Continue reading →

Microsoft Operations manages a huge portfolio of ever-changing products, business units, customers, clients, and partners.

Here are few tactics that have brought good results as we work to Build an Uplifting Service Culture:

• Tie it all to your mission. Are you the nation’s greatest place to gather? Trying to help people and businesses realize their potential?  Building a place where people can come to find and discover anything they might want to buy online? These are powerful statements and every employee needs to understand what their specific contribution means. Continue reading →

Two of the nation’s leading economic forecasters have warned the transition away from the mining boom is likely to be slower and more painful than thought.

Latest economic snapshots show low interest rates are failing to spark activity in critical non-mining sectors such as housing construction, leaving the nation at risk of extended below trend growth. Continue reading →

German prosecutors have charged Uli Hoeness, president of European football champions Bayern Munich, with tax evasion after a lengthy inquiry.

Lawyers for Mr Hoeness have one month to respond to the charges before a court in Munich decides whether the case should go to trial. Continue reading →

THE REVENUE COMMISSIONERS have assured mortgage holders who may hope to have part of their mortgage debt written off that any gains they make will not be subject to tax.

The clarification comes after an accountancy body raised concerns that Irish tax law would inadvertently treat a mortgage write-down as a ‘gift’ – meaning it would become liable for capital acquisitions tax. Continue reading →

THE International Monetary Fund (IMF) has distanced itself from comments made by its former expert on Ireland that austerity was self defeating.

Mr Mody said the €3.1bn adjustment should be considerably lowered. He said such a strategy could lead to growth, which would do more for balancing the budget than continuing with cutbacks and tax increases. Continue reading →

One of the main frustrations experienced by Credit Controllers is the volume of queries and disputes they have to deal with on a daily basis. The sad part is that sometimes this becomes so much part of the job that some Credit Controllers begin to think this is the job – take it from me it is not. Continue reading →