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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
June 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
HOW TO BE A GOOD CLIENT
Seamus Parfrey

By Seamus Parfrey

David Ogilvy was considered by many to be the "Father of Advertising".

 When Fortune published an article about him and titled it "Is David Ogilvy a Genius?" he asked his lawyer to sue the editor for the question mark.

 

In his 1963 best seller "Confessions of an Advertising Man" Ogilvy devoted a complete chapter titled "How to Be a Good Client" in which he set down the rules which he believed would extract the best service from an advertising agency.


 
The following are my rules adapted from Ogilvy which I would use to get the best service from an accounting firm.


 

1. Select the right firm in the first place.


 

Find out what you can about how they operate. Are they good listeners? Will they help you grow your business? Will they return telephone calls promptly? Do they promise you results which are obviously exaggerated? Are they intellectually honest? Can you trust them? Will they meet deadlines?


 

Above all find out if you like them as the relationship generally is a close one so that personal chemistry should be good.


 

2. Emancipate them from fear.

 

Let them know that you are interested in building a long term relationship and that if you are dealing with the right people you will not be easily swayed by suitors.Your loyalty will be rewarded.

 

 

READ MORE 

 

LOWER YOUR FOREIGN EXCHANGE COSTS EASILY!

By Noel Murphy

We have partnered with TransferMate who can save you time and money on your international payments to suppliers by offering better exchange rates, lower transfer fees and faster payments.

 

The company is a licensed European Payment Institute with offices worldwide and is regulated by the Central Bank of Ireland.

 

Over 35,000 companies worldwide use the TransferMate service every month.

 

TransferMate aims to eliminate bank charges and senders/receivers fees. It offers better exchange rates than banks and zero fees for transactions over €5,000.

 

Irish banks offer a limited online platform whereas TransferMate provides a 24 hour online platform allied to a 24 hour call centre. 

  

READ MORE 

COMPANIES ACT 2014 CONVERSION AND AUDIT EXEMPTION
By Maria Fahy

As most company directors are by now aware the new Companies Act 2014 came into force on 1 June 2015.

 

Companies have to change status under the new legislation and undergo a conversion process generally to a Private Company Limited by Shares (LTD) or a Designated Activity Company  (DAC).

 

It is estimated that over 96% of companies will be taking the LTD option.

 

The main advantages to becoming an LTD are:

  • The company need only have one Director. However the Company Secretary cannot be the sole Director.
  • The company will no longer have to operate within its Objects Clause. It will have full and unlimited capacity. Ultra vires is history!
  • The company may dispense with holding Annual General Meetings.
  • The company can have between 1 to 149 shareholders.
  • Audit exemption  is extended to group structures, companies limited by guarantee and unlimited companies.


 

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

Deadline - 1 - 21 July 2015

Corporation Tax

  • Preliminary Tax for accounting periods ending between 1 - 31 August 2015
  • First installment of preliminary tax for "Large Companies" with a financial year ending between 1 - 31 January 2016
  • Returns for accounting periods ending between 1 - 31 October 2014
  • Pay balance of tax due on accounting periods ending between 1 - 31 October 2014
  • Returns of third party information for accounting periods ending between 1 - 31 October 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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