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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 2016
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 GET A PPS NUMBER
By Noel Murphy

If you have a job offer or are thinking of moving to Ireland to work you'll soon become aware of the importance of having a PPS number.

The tax system in Ireland works by taxing your entire income at particular rates. You need to apply for credits that will reduce the amount of tax deducted.

To do this, when you start your first job in Ireland you'll need to complete and sign a Form 12A (available from revenue.ie). But, in order to have the form accepted by Revenue you'll need to have a PPS number.

A PPS Number is your Personal Public Service Number. It's your unique identifying number for use with government bodies.

TAX NEWS- TAX REFUNDS TO BE MADE ELECTRONICALLY
Seamus Parfrey
By Seamus Parfrey
 
Revenue recently announced that they will only be using electronic payment methods to make tax refunds.

They have already been doing this in the case of Corporation Tax and VAT, but this is now being expended to the following areas:
  • Income Tax
  • Employers PAYE/PRSI
  • Relevant Contracts Tax
  • Customs & Excise Duties
  • Vehicle Registration Tax
  • Capital Gains Tax
  • Excise Licence
  • Capital Acquisitions Tax
  • Professional Services Withholding Tax
  • Environmental Levy
  • Dividend Withholding Tax
  • Betting Duty

THINKING OF FORMING A COMPANY IN IRELAND?
By Seamus Parfrey

The economy in Ireland is recovering well from the 2008 crash. And as a result, Ireland is attracting significant foreign investment.

If you're overseas and thinking of forming a company in Ireland, what do you need to know?

Getting a registered office address

You can go through the legal process of setting up a company in Ireland from anywhere in the world provided that you can supply a registered office address in Ireland.

The registered office address is the legal address for the company. Many company formation specialists can provide a temporary registered office address to allow you to get started. So this is an easy hurdle to overcome.

TACKLING LATE DEBTORS PAYMENT- PART 5 OF 5
By Seamus Parfrey

In this ongoing series I've been looking at some of the challenges facing businesses when it comes to dealing with late payments from customers.

In our last instalment we consider how the basic practices of the business can be set up to cope with late payment. Let's look at 6 areas.

1. Contracts With Customers

The first line of defence against late payment is having properly designed contracts.

Your contracts will be most effective if they're written in clear language that is easily understood. Use short sentences. Keep terms and wording simple. It is important to have proper legal protection, but recognise the human factor. If a clause is complicated it's much more likely to be ignored.



TAX DEADLINES & REMINDERS
By Aoife Ní Dhubhghaill

Deadline - 14 July 2016
PAYE/PRSI
  • P30 monthly return and payment for June 2016

Deadline - 14 July 2016
DWT
  • Return and payment for June 2016  

Deadline - 23 July 2016
RCT
  • Return and payment for June 2016                                                  

     

Deadline - 1 - 21 July 2016
Corporation Tax
  • Preliminary Tax for accounting periods ending between 1-31 August 2016
  • 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 2015
  • Pay balance of tax due on accounting periods ending between 1 - 31 October 2015
  • Returns of third party information for accounting periods ending between 1 - 31 October 2015

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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Parfrey Murphy | Lee View House | South Terrace | Cork | Cork | 0353 | Ireland