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Parfrey Murphy
Chartered Accountants
Lee View House
South Terrace
Cork
Ireland

T: +353 (0)21 4310266
E: [email protected]
E-Newsletter
May 2015
Our aim is to help businesses grow, to increase their profitability, improve their cash flow and reduce their tax liabilities so that they have more disposable income. Please feel free to call us on  021 4310266 or email us at [email protected] if you wish to do business with us
ARE YOU COMPELLING CUSTOMERS TO BUY FROM YOU OR YOUR COMPETITORS
Seamus Parfrey

By Seamus Parfrey

Your competition is stiffer than you think.

Your ability to win a sale is harder than you think.


 

It's because you aren't just competing with your direct competitors.


 

For example these battles happen...


 

* Does a consumer buy a new bed or opt for a Caribbean cruise?

* Does an engineering business hire a new person or invest in new machinery?


 

Your buyers have a limited budget too. They can spend their money with you. Or they can spend their money on a variety of other products or services fighting for their cash.


 

How do you compel customers to buy from you rather than any of your competitors?

 

READ MORE 

 

WHAT A BUSINESS SHOULD NOT DO....

By Noel Murphy

I was recently asked what I thought were the five most important things a business should not do.

In no particular order they are:


 

1. Don't be over optimistic

 

I generally find that businesses overestimate their income and underestimate their expenses which effects their profitability and cash flow which allied to overestimating the speed of cash inflows can create cash   flow problems. The advice here is to be realistic as possible and also do planning for various assumptions/scenarios.


 

2. Don't ignore your continuing education

 

It is essential that you continue to invest in your knowledge base by reading relevant and recommended business books, attending courses together with keeping up to date on the latest trends and technology in your industry. You can only be a continuing expert in your industry by creating a strong educational environment for yourself. 

  

READ MORE 

ACTIONS THAT WILL MAKE YOU SMARTER

By Seamus Parfrey


Want to expand your mind - legally?


 

A little bit of brain exercise every day goes a long way to help you expand your mind and knowledge. Readers to an online thread shared the habits and actions they follow to fuel their brains and become smarter.


 

Please let me know if you have any ideas to add to this list.


 

1. Come up with 10 ideas every day on any subject.

2. Read the newspaper.

3. Play devil's advocate.

4. Read a chapter in a book.

5. Instead of watching TV watch educational videos.


 


 

TAX DEADLINES AND REMINDERS
Deadline - 14 June 2015
PAYE/PRSI
  • P30 monthly return and payment for May 2015
Deadline - 14 June 2015
DWT
  • Return and payment for May 2015   
Deadline - 23 June 2015
RCT
  • Return and payment for May 2015                                                       

Deadline - 1 - 21 June 2015

Corporation Tax

  • Preliminary Tax for accounting periods ending between 1 - 31 July 2015
  • First installment of preliminary tax for "Large Companies" with a financial year ending between 1 - 31 December 2015
  • Returns for accounting periods ending between 1 - 30 September 2014
  • Pay balance of tax due on accounting periods ending between 1 - 30 September 2014
  • Returns of third party information for accounting periods ending between 1 - 30 September 2014
Where returns and payments for RCT, VAT, PAYE/PRSI and Corporation Tax are made electronically, the return and payment deadlines are the 23rd day of the month.
Parfrey Murphy
+353 (0)21 4310266
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