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The Irish start-up scene is a rapidly growing space. Driven by entrepreneurs and supported by government organisations like Enterprise Ireland & local start-up groups around the country, the start-up community in Ireland is expanding year on year. While start-ups can have the skill, drive and the experience in their particular area to make it work, there is one area that many self-employed business owners, new and old, can find quite daunting – the complicated world of Irish tax returns. While PAYE workers usually have their tax deducted at source from their employer, if you are what is referred to as a ‘chargeable person’, you are responsible for ‘self assessing’ your

Many businesses consider switching service providers on a regular basis – be it electricity provider, broadband, stationery provider – it’s natural to ensure that you are getting the best value for money service in the market place. One area where people are traditionally slow to make the move is with their accountant as they feel it can be very time consuming and lead to a lot of headaches. Getting the right accountant for your business is of paramount importance and if you are not satisfied with your current accountant you need to make the move! Below we look at some of the reasons businesses give for not making the move

The past number of years has seen an exponential rise in the numbers of people abandoning traditional employment and going down the road of becoming a self-employed contractor. For many it is a very attractive option which allows them more control over their career and offers opportunities that may not present themselves in the traditional employer/employee scenario. Becoming a self-employed contractor is not without its pitfalls and below we consider the top 5 things that should be considered before making such a decision: 1. Job Security/Job Flexibility As an employee your rights are protected by a raft of employment law swhich ensures that your employer is obliged to comply with.

This is a question that I have been frequently asked. When a new businesses is started it can be a common question, how can you access money in your businesses in other words you may be unsure how to get paid. In this Blog we will look at how you get paid from your business and the effects on your ability to pay your tax liability. The business has started but where are my wages? As a self employed person you don’t follow the same rules as an employee. An employee receives a wage each (week/month) gross wage less PRSI, USC, PAYE and a net wage is paid, and the

Standing out from the crowd isn’t easy in the retail industry. You must come up with innovative ideas to manage and run your retail business. One of the easiest ways to gain a competitive advantage on your competitors is to get better with daily business operations and master them. If you can optimise, automate, and master everyday business processes, you’ll find yourself doing better than most of your competitors. Retailers struggle managing daily tasks. Master it to gain competitive advantage. If you just started a new retail business, using SAP Business One will help stand out from the crowd and get better with managing your business. This is, however, just

There is hardly any large-scale business that operates without an accountant. Most of them have a team of professional accountants that help them in making better financing decisions by keeping the cost under control. Startups and new businesses need an accountant too. Yes, you can manage your startup yourself but hiring a professional accountant has benefits beyond your expectations. Over 40% small businesses reported that bookkeeping and taxes are the worst part of owning a business. In another study, 74% of business owners said that they have no clue how ghost assets impact their books while another 49% said they do not know what ghost assets are. If you own

Here we take a look at what you need to know when employing staff for the first time, the common pitfalls, tax saving tips and Government schemes available. When you set up a company and it is your intention to employ staff, you must first ensure that you are registered for Employers PRSI with the Revenue Commissioners. It is now quick and easy to register online via the Revenue Online Service (ROS). When you take on that first employee it is important to get their P45 from their previous employer and then register them as your employee online. Once you have done this, Revenue will make available to you the

We all know the general consensus that people dread visiting their accountant like they dread visiting the dentist.. but it doesn’t have to be all pain and no gain…Here are some tips to take the sting out of a necessary business function, and using your accountant as a service provider to its maximum potential. Gone are the days when you only heard from your accountant when they were chasing cheques or an audit was due. In today’s difficult climate your accountant can play a pivotal role in your company’s success. So for those of you starting up a business, here is a checklist of what you should expect, and if

The question of whether a person should be classified as an employee or self employed is an important one, David from www.irishaccounts.ie explains the difference.. In a lot of cases, the business owner will want the employee to be treated as a self employed individual because: 1) There will be no liability to Employers PRSI. In some cases employer’s PRSI can be as much as 10.75% of the gross salary of the employee. 2) There is no exposure to unfair dismissal which means that the individual can be hired and fired without any issues arising. There is no obligation to pay a wage every month as it will be linked

In Ireland, a company is deemed to be audit exempt if it fulfills all the criteria set out below in both the current and previous year; * The company must be a Private Limited Company; * The amount of turnover of the company must not exceed €7.3 million; * The total assets of the company are less than €3.65 million at the end of its financial year; * The average number of employees must not exceed 50; * The company must not be a parent company or a subsidiary company; * The company must not come within one of 19 classes of companies listed in the Second Schedule to the

Blog Category: Accounts

Advice Categories.

The Startup Awards

5 Essential Tax Return Tips for Every Irish Start-Up

Making the Move – What you need to know about changing your accountant

5 Issues To Consider When Becoming A Contractor..

As a Sole Trader. What money is mine and what belongs to my business?

How SAP Business One Can Help Your New Retail Business

How an Accountant Can Help With Your New Business

Employing staff for the first time, what are your tax obligations?

Getting the most from your Accountant

Self Employed Vs Employee

Audit Exempt Companies In Ireland