With our Payroll Service, some clients send us weekly spreadsheets, or individual employees email weekly timesheets.
So if you are starting a business and plan to have employees, or you are an existing employer and need to outsource your payroll function for security or cost saving reasons give us a call on to discuss your needs.
One of the biggest areas for concern with business owners is Tax Compliance. In particular – VAT, Income Tax and Corporation Tax. All of these taxes are sources of revenue to the government and, just like business owners, they want to be paid in full what they are due. And recently they have started automatically deducting late fees and penalties directly from the businesses or, in the case of income tax, individual’s bank accounts.
Generally, VAT return calculation is based on the amount of VAT charged by you less the amount that you have paid on your purchases. It is normally due on the 19th of every odd month but can be changed with agreement. Most supply of goods is at 23% and most services are at a reduced rate of 13.5%. However supply certain goods, e.g. some food and books, are zero rated and others are VAT exempt, e.g. taxi hire and educational services. Note that VAT exempt businesses are not allowed to reclaim VAT paid on purchases. For further information visit: http://www.revenue.ie/en/tax/vat/guide/vat-rates.html .
Income Tax Returns are required by all self employed individuals or individuals who have income not included in their P60 (PAYE) return, e.g. rental or investment income. They are submitted annually and are due at the end of October each year. Basically, any income earn outside the PAYE system is liable for tax. There are various reductions in the amount due based on individual’s circumstances.
TAX compliance can be complicated and certain areas are open to interpretation. Incorrect treatment of costs or income can lead to understated returns being submitted. Equally as bad for the business owner, is over paying taxes through lack of knowledge or experience. Call us on for assistance with Tax Returns or other Revenue matters.
Call us today at to find out how, over the past 30 years, we have helped businesses like yours keep compliant and minimise taxes.