STRENGTH IN NUMBERS BLOG

Succession planning is extremely important in owner-managed businesses. While you might not intend to sell up or retire for many years to come, circumstances change and it’s important to be prepared for every eventuality.

For some business owners, change can come in the form of an unexpected offer that’s too good to turn down. For others, illness or a change in family circumstances can trigger a crisis.

Whatever the situation, without a succession plan business owners generally lose out financially.

The following are details of the Budget Statement of 10 October 2017, as made by the Minister for Finance and Public Expenditure and Reform.

The VAT rules relating to training and vocational services changed in Finance Act 2015. The new rules commenced on 21 December 2015.

Previously there was an exemption for certain training services. The rules have been fundamentally changed.

A round up of today's #BUDGET18

Our consultation fee is €150 plus VAT which we will credit against your final fee should you decide to use our service. We know that most accountants provide free consultations but we’re not like most accountants. This may seem arrogant, and we apologise if it comes across that way.  That is not the intention. However, we have built a reputation as one of the go-to-accountants for competitive, effective tax advice. But because of this, we get many requests from existing and potential clients for consultations on how we can save them money and reduce their tax bill. We love doing that and we are very good at it! However, we are a small business and there are only so many hours in the day, therefore, if most of our time is spent providing free consultations then we wouldn’t have a business.

The deadline to submit your 2016 income tax deadline is 31st October 2017. You can avail of the pay and file extension of the 14th November but the return must be filed and paid in full!

Feel free to contact us or comment in the link below.

Ireland’s craft and microbreweries sector is growing. According to a recent report, the number of production microbreweries increased from 15 in 2012 to 62 in 2016 and the sector had an estimated turnover of €59 million last year. 

If you’ve ever watched Dragon’s Den, you’ll be familiar with the concept of private individuals investing in start-up businesses in return for an equity stake in the business. Investors like this are sometimes called business angels. Typically, they are successful people who get a thrill from business and enjoy supporting entrepreneurs. Often, as well as providing capital, they help the startup in other ways, for example by mentoring the owner/manager and/or taking a seat on the board.