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Vacant Homes Tax – 1st November 2023
Vacant Home Tax Vacant Homes Tax (VHT) is a new tax introduced in 2023. It is an annual tax that will apply on 1 November each year. First chargeable period for VHT is 1 November 2022 to 31 October 2023. The Vacant Homes Tax will be charged at a rate equal to three times the […]
Your businesses budget plan for 2024
What should I Include in My 2024 Budget Preparing a financial budget for your business in 2024 can offer several benefits, including helping you plan for the future, make informed decisions, and maintain financial stability. Here are some of the key benefits of creating a budget, as well as what to include in it: Sales […]
Pension Auto-enrolment – What’s happening in 2024?
Pension Auto-enrolement scheme – When will it happen? Supposed to be introduced at the beginning of 2021, the most recent announcement from government is that Auto-enrolment the new retirement savings system for employees that will be introduced in the second half of 2024 (no date confirmed). Here are some Points to note: Why? The Irish […]
Revenue Warehoused Debt – What the update?
Towards the end of this month, Revenue will reintroduce the requirement to submit the ePPA1 application form for obtaining a PPA (Phased Payment Arrangement), making some minor modifications to the form. In specific cases, additional documents will be necessary to support your PPA application. Below I go through the main questions business owners are asking: […]
How to Determine Your Business Worth: Valuation Methods
How Much Is My Business Worth? Valuing a small business can be a complex process, and there are several methods that can be used. The appropriate method depends on various factors, including the industry, the company’s financial performance, growth prospects, and market conditions. Here are some commonly used methods to value a small business: Asset-Based […]
Get Paid Faster And Avoid Bad Debts
How do I get paid quicker and reduce the risk of Bad Debts in the business? Having an effective credit control is crucial for maintaining a healthy cash flow and minimising bad debt within a business. When it comes to credit control “Proactive rather than Reactive” is the name of the game and below I […]
KPI’s for Hospitality Businesses
Hospitality KPI’s: Key Metrics for Success Key Performance Indicators (KPIs) are essential metrics that help hospitality businesses track their performance, identify areas for improvement, and make data-driven decisions. The specific KPIs used can vary depending on the type of hospitality business (e.g., hotel, restaurant, cafe, resort) and its goals. Here are some common KPIs that […]
Examples of AI for Business: Transformative Applications
What are examples of AI that business owners can use in their business? Business owners can leverage various AI applications to improve efficiency, enhance customer experiences, and gain valuable insights. Different business operating in different industries will look to utilise these new technologies to a great extent. For example, your local coffee shop may not […]
How to Reduce the Risk of Fraud in your Business
How to reduce the risk of fraud in your business Reducing the risk of financial fraud in a business requires a combination of preventive measures, strong internal controls, and a vigilant approach to detecting and addressing potential fraudulent activities. Here are some effective strategies to help you minimise the risk of financial fraud: Establish a […]
Working from home and tax relief
you can make a claim for tax relief during the year or after the end of the year If your employer pays you a working from home allowance towards these expenses, you can receive up to €3.20 per day without paying any income tax, PRSI or USC on it. If your employer pays more than […]
