The government released detailed proposals regarding personal insolvency recently, which amounts to a reform of the law in this area.
A Summary of what is being proposed:
Bad Debts: Four Options
Option One
Where the...
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We work on the accounts information available to us and we compare that to other businesses in the same industry - measures like GROSS PROFIT rates, and SALES PER EMPLOYEE. We...
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To set up a limited company in Ireland, you need at least 2 directors, one of whom is willing to act as secretary. Usually at least one of these people is...
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There are new tax benefits available to companies for spending on research and development. The tax treatment in Ireland has changed recently to encourage such spending. We have set out below...
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If you are looking to cut costs in your business, have you considered outsourcing?
What we are talking about is taking some activities that are essential to your operation, and that you...
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As announced in the Budget 2009 and ‘Commenced’ by Ministerial Order on 15th December 2009, new provisions have been introduced to provide for zero Corporation Tax for companies which start trading...
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Q: I have started a new business. When do I need to register for tax?
A: As soon as you start to incur expenses you should register for the various tax categories.
Q:...
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If you are a director of a business that goes into liquidation, what areas of your behaviour comes under scrutiny:
1. Were any of the directors involved in a liquidation before?
2. Is the company...
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Shareholders agreements are documents that set out the plans and responsibilities of the shareholders. The reason companies draw them up is to prevent disagreements amongst shareholders. Companies are legal persons in...
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Unless an employer issues an employment contract, the relationship between an employee and his or her employer is governed by the various laws in the employment area. Therefore to mitigate the...
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What is the value my business and how can I increase it?
The owners of businesses which look at the value of the business on a regular basis are able to identify...
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If you have a business that has tax arrears, the following steps may make your life easier:
·File all returns outstanding - this way you avoid penalties for late filing, even if...
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If you are having problems collecting money due to you the these steps may help you:
·Get your list of customers, and decide on the worst performing 10%, on the basis of...
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When a large transaction is contemplated, a due diligence is often carried out. This would apply where an external investor wanted to purchase shares in a company for example, or a...
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Directors responsibilities are many and varied but the following list covers the important issues:
Keep proper books and records so that the financial position of the company can be determined quickly
Ensure accounts...
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The following are the rates effective from 5th March 2009:
Engine Capacity up to 1200cc
Less than 6,437 kilometres 39.12 cent per kilometre
Over 6,437 kilometres 21.22 cent per kilometre
Engine Capacity 1200 to...
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A business plan is a document that contains a profile of your company, and a vision of its future. You may present it to potential lenders, investors and partners, and you...
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Individuals can now invest up to €150,000 per year – this limit was previously €31,700.
Companies can now raise up to €2 million – up from €1 million up to now.
Activities that...
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By making a will you are ensuring that:
Your estate is administered as you would wish;
Tax planning opportunities can be availed of;
Your business assets are safeguarded and you have maximum control the...
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1. What is "redundancy" and in what circumstances can employees be made redundant?
"Redundancy" arises where an employer wants to reduce its total number of employees or wants to close down...
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Companies with turnover of under €1,500,000 and a balance sheet total of €1,904, 607 do not have to have their accounts audited in years commencing after 1st July 2004 provided:
1.More than...
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Venture Capital is money invested in the share capital of a business to help it grow rapidly. Businesses that look for this sort of investment should be in a sector that...
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Most owners of businesses have no plan for an eventual exit. A successfully implemented plan for the sale of a business can insure future financial security and can also result in...
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There are many tax implications for couples formally seperating in Ireland. The tax aspects of seperation need to be considered carefully before proceeding, and can yield significant savings with careful planning....
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Most companies are liquidated under the Creditors Voluntary Liquidation method, there there is a shortfall between the assets and liabilities i.e. assets are lower than liabilities, resulting in loss to someone.
Directors...
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1. Be Ruthless with Time
When it comes to time management, be ruthless with time, but always gracious with people.
2. Put in time to save time
Spending ten minutes sorting out paperwork or...
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Of all the things you can do to help build value in your business, building a system to run and manage your business may be the single best thing you can...
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