The advent of double entry bookkeeping was considered one of the greatest advances in the history of finance. Even though some people still struggle to understand the difference between a debit and a credit, the concept hasn’t changed since its inception which was over 500 years ago. However, as the old axiom goes, when things change they tend to do so gradually and then suddenly.
If you are a VAT registered business supplying services to customers outside of Ireland, the decision tree below will help you determine if you need to account for Irish VAT.
If you are an officer a company and want to resign your position but the company won’t remove you as a director, there is a mechanism to formally remove yourself where the company has not or will not file a Form B10.
Deed of Covenants are generally used for children and elderly parents to assist with living expenses and medical bills. A deed of covenant is legally enforceable whereby the individual (the covenantor), agrees to give a portion of his or her income to another person, (the covenantee), without receiving any benefit in return.
As a rule, if you work off the assumption that ALL income is taxable unless otherwise stated by a relief or an exemption then you won’t be disappointed when told otherwise.
When a business needs to raise funds, getting a bank loan is usually the first option that comes to mind. Banks are not always willing to lend but the good news is they are not the only option. In this short article, we look at four alternative sources of finance:
In the table below, we summarise the scope to Irish income tax based on an individual's tax residence. If you are Resident, Non Resident or Non Domicile this table is a useful guide. Please keep in mind that this is a high level basic summary. If you need to have a more detailed conversation in relation to your tax residency please arrange a consultation here https://calendly.com/brendan-brady/30-minute-meeting
The Irish revenue have begun issuing notice of investigations to Airbnb hosts with Irish listings. This comes as no surprise since Airbnb announced back in 2015 that it would be sharing information with Revenue on its Irish listings under S880 and 890 TCA97.
From time to time all businesses need to cut costs. The impetus might be to fund growth, improve profitability or survive a difficult patch. Whatever the reason, it is rare that a single action will generate the necessary cash. Usually, what’s needed is a series of cuts across a range of expenses.
