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Increased size limits for Irish companies signed from 1st July 2024
Increased Size Thresholds to benefit Irish SME’s with Audit & Reporting Requirements The EU has updated the size criteria for companies and groups, increasing the balance sheet and turnover limits by 25% to account for inflation. This will help more Irish companies qualify as “micro” or “small” and benefit from simpler reporting and audit exemptions, […]
CAT loans from close relatives – New Tax Filing Requirement from 2024
Close Relative Loans – How will this effect me? With effect from 1 January 2024 a new mandatory Capital Acquisitions Tax (CAT) reporting obligation is imposed on the recipients of certain loans from close relatives. This applies irrespective of whether any tax is due or not and is applicable to both new loans made from […]
Benefits of Outsourced Management Accounts for Non Profits
Management Accounts for Non Profits What Are outsourced Management Accounts? Having independently prepared Management Accounts can demonstrate an independence and segregation of duties. Outsourced management accounts are financial reports that provide detailed valuable insights into an organisation’s financial performance. Unlike annual financial statements, they are prepared more frequently—often monthly or quarterly—allowing for timely decision-making. How […]
Revenue Compliance Check or Audit
Revenue Complaince Checks or Audits – Steps to take Revenue Intervention Summary Lately, more businesses are getting random compliance check letters from Revenue. But what is a Revenue audit or compliance check, and how can you get ready for it? Why Me? There are three main reasons why you may have been chosen. 1. Random […]
Pitfalls of outsourcing your accounts
The pitfalls of outsourcing your accounts and what are the solutions? If you are considering outsourcing your accounts, forewarned is forearmed. Above all, avoid rushing into it without careful examination of the pitfalls and how these will impact you and your business. When looking at your outsource options you are always comparing what you currently […]
