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Increases to Employer and Employee PRSI rates from 1st October 2024
Increases to Employer and Employee PRSI rates from 1st October 2024 The recent announcement in Budget 2024 has introduced significant changes to the Pay-Related Social Insurance (PRSI) system in Ireland, set to take effect on 1 October 2024. These changes encompass adjustments to PRSI rates for both employees and employers across various classes, as well […]
Common Objections and Concerns When Outsourcing: A Q&A Guide for Business Owners
Common Objections and Concerns When Outsourcing: A Q&A Guide for Business Owners Below we examine in a Q&A format the steps to take when examining this option. We look at the questions business owners would have, when making the decision whether to outsource or not and also to whom should they select as an outsource […]
Increased Parent’s leave and Parent’s Benefit from 1st August 2024
Parent’s Leave and Parent’s Benefit extended from 1st August 2024 Starting today, 1st August 2024, Parent’s Leave and Parent’s Benefit are extended from seven weeks to nine weeks. These changes were announced in Budget 2024. Parents can now take nine weeks of leave if their child is under two years old, or if they adopted […]
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 […]
Non-Domestic Microgen Grant
Non-Domestic Microgen Grant Receive government grant aid towards the installation of solar panels. Why Solar? Solar panels that generate electricity are called solar photovoltaic (PV) modules. They convert sunlight into electricity. The benefits include: Lower Electricity Bills: Generate your own electricity and reduce your energy costs. Sustainability: Show your dedication to using renewable energy and […]
Retirement relief upper age limit extended to 70
As a Business Owner, Is Time Escaping You? If a person incurs a capital gain on retirement (typically from selling their shares in their business) they may avail of relief up to €750,000 and pay no Capital Gains Tax. Planning on retiring or selling your business? If a person incurs a capital gain on retirement […]
Angel investors are entitled to reduced CGT
New angel investor relief Under the Finance Act 2023, angel investors can now benefit from lower Capital Gains Tax (CGT) rates when they invest in small and medium-sized enterprises (SMEs). Here’s a simplified overview of the key points and eligibility requirements: Angel Investors: These are private individuals or groups who provide capital for startups, particularly […]
