Category Archives: News

PKF-FPM Charity Seminar

“Great things never come from comfort zones”

The climate for charities has been volatile over the last few years, to put it mildly. Will the next few years be any better? PKF-FPM Accountants, in conjunction with nfpSynergy and the Charities Regulator, invite you to step out of your comfort zone and explore the challenges and opportunities facing the charitable sector on the Island of Ireland today.

 

PKF-FPM are delighted to continue our support of the not-for-profit sector by bringing you the leading charity experts the country has to offer, in this highly engaging free event that should not be missed.  Aimed at connecting the leading minds of the Charity Sector, we will look at the different forces at play for charities both in the Republic and the UK and explore topical emerging issues, major risks, future challenges and strategic initiatives.

Who will Benefit?

This event is a must for for all Charity CEOs, Trustees and members of the Senior Management Team.

 

 

 

 

To confirm your FREE place contact Teresa Gill 003531 6913 500 or email t.gill@pkffpm.com

 

 

HMRC urges taxpayers to declare foreign income

HMRC has been advising people of the tougher stance being taken where individuals have not paid tax on assets held offshore. For almost 10 years, various forms of tax amnesties have been open through targeted disclosure facilities to specific professions and trades which offered significantly lower penalties to those who made a voluntary disclosure to HMRC (e.g. The Liechtenstein Disclosure Facility which was preceded by the Offshore Disclosure Facility).

 

Now we have the Worldwide Disclosure Facility (WDF) which will allow people to ensure their affairs are correct before the Common Reporting Standard (CRS) comes into force in October 2018.

 

The CRS was developed in 2014 in response to a G20 initiative driving the automatic exchange of financial information across jurisdictions. So HMRC will have access to lots of new information.

 

The WDF is available to all UK and non-UK resident businesses, organisations and individuals that have a hitherto undeclared UK tax liability from an overseas source or from a UK source that was later transferred to another country, e.g. a bank account in the Republic of Ireland, Isle of Man, Jersey, undeclared bank account in a deceased person’s estate and offshore property. The facility covers all direct taxes and Inheritance Tax. The most important change is the tougher stance HMRC will take where those affected fail to act – potentially resulting in significant penalties or even criminal investigation if the offence is deemed serious enough. Under the new legislation HMRC will introduce new sanctions for “requirement to correct” or “failure to correct”. Those who use the voluntary disclosure via the WDF will receive lower penalties – the HMRC message being put quite bluntly: “come to us before we come to you”. HMRC explains quite clearly that it has and will continue to obtain new financial information from over 100 jurisdictions – so it is clear they mean business.

 

PKF-FPM have a specialist tax investigation team with significant experience in dealing with these situations and can help in negotiating with both tax authorities.

 

Based on our experience of handing these serious types of tax investigations and disclosures, we understand how stressful, invasive and potentially life-changing these situations can be.

 

Taking specialist advice early on is crucial – to minimise the settlement and give the individual peace of mind – please feel free to contact Seamus McElvanna via email s.mcelvanna@pkffpm.com or Pat Donnelly p.donnelly@pkffpm.com

PKF-FPM shortlisted for three categories at British Accountancy Awards

PKF-FPM Accountants, have been shortlisted for 3 categories at the British Accountancy Awards, namely: Mid-Tier Firm of the Year; Tax Team of the Year; and Partner of the Year.

 

PKF-FPM recently won Tax Team of the Year at the Irish Accountancy Award 2018, against stiff competition and are current holders of the UK Mid-Tier Firm of the Year.

 

The only Northern Ireland practice to be shortlisted for the British Accountancy Awards 2018, Paddy Harty, Senior Tax Director, outlined his pride at the nomination stating, ‘The British Accountancy Awards attracts the very best in the industry and it is an honour to be selected as industry leaders in our respected fields and recognised for delivering excellence’

 

This year saw a surge in the calibre of entries for the British Accountancy Awards, with the judging panel commenting that ‘2018 has been our most hotly contested year so far and this year’s shortlist is the strongest it has ever been!’

 

The awards ceremony, which will be attended by over 1,000 guests, from industry, practice and the public sector, will take place in the prestige Grosvenor House Hotel, Park Lane, London on Wednesday 26th September.

 

 

 

Prepare for customs checks and controls after Brexit, say Chartered Accountants

Businesses need to get serious about the prospect of a no deal Brexit 

Today (Monday 16 July 2018), Chartered Accountants Ireland and the Institute of Chartered Accountants in England and Wales (ICAEW) have unveiled a joint publication which will help both Irish and UK businesses prepare for customs checks and controls that they could face after Brexit.

 

The publication, entitled Taking the Lead – Chartered Accountants and Brexit” provides easy-to-follow guidance on how the EU customs system works, how customs duties are paid, and also helps readers in Ireland and the UK understand supply chain challenges and other barriers to trade which they are very likely to face after Brexit. Many traders in Ireland and the UK will be dealing with these issues for the first time and for them this guide will be critical.

 

President of Chartered Accountants Ireland, Feargal McCormack said: “Businesses need to get serious about Brexit now. Given the outcomes of the negotiations so far, a no-deal Brexit is a realistic prospect and traders need to examine their supply chains, look at their cash flow and get up date customs knowledge in order to deal with a potentially hazardous trading landscape. This guide will go a long way in helping to do this.”

 

Chartered Accountants Ireland is providing this guide to all of our members and to elected representatives across the island.

 

Feargal McCormack presented Honorary Degree at Ulster University

Another momentous year for PKF-FPM Managing Director Feargal McCormack, following his election as President of Chartered Accountants Ireland in May 2018, today Feargal was presented an Honorary Degree of Doctor of Science by Ulster University, for commitment to civic society through business, economic, social and community development in Ireland.

 

 

PAYE Modernisation

Changes are coming…. are you ready?

 

From 1st January 2019 Revenue are introducing Real Time Reporting for PAYE which means employers will need to calculate and report their employee’s pay and deductions as they are being paid.

 

Our specialist payroll team provide expert advice and practical support for our clients including operating payroll for all sizes of businesses.

 

Contact a member of our payroll team at payroll.roi@pkffpm.com or call 01 691 3500

 

 

Job Opportunity – Management Accountant

Due to the continued expansion and growth of our client, a leader in the IT and global video collaboration & Logistics industry, are currently looking for a Management Accountant to join their team.

 

Location: Co. Down

 

Job Type: Full time/permanent

 

Hours: 9am – 5:30pm Monday – Friday

 

Salary: Negotiable (Dependent on skills and experience)

 

The Role:

• Produce Management Accounts and reports monthly in a timely and reliable manner
• Perform the month end processes
• Completion of monthly reconciliation of all other balance sheet accounts and identify any differences to Head of Finance
• Maintain the general ledger integration and assist with Accounts Receivable/Payable duties were required
• Monitor and evaluate financial systems and suggest improvements, in particular current purchase order & sales order processes.
• Prepare and submit regulatory returns such as VAT, Intrastat, EC Sales, government surveys & US Sales Tax Returns
• Completion of yearend audit files
• Any other duties deemed necessary by the Head of Finance

 

The Person:

• Professionally or Part Qualified Accountant (CIMA, ACA, ACCA or equivalent)
• Experience using a computerised accountancy system – including implementation of internal systems.
• Strong Excel skills to include manipulation of data and the ability to present data in a clear financial format
• The ability to work well in a team, to work well under pressure and accurately to meet deadlines
• Must be flexible

 

Desirable Criteria:

 

Experience/knowledge of setting up global entities and payroll facilities

 

If you are interested in this position, please forward a copy of your CV to recruitment@pkffpm.com before Monday 2nd July .

 

PKF-FPM win Managing Talent Award at The Irish News Workplace & Employment Awards 2018

On what was the 12th year of The Irish News Workplace & Employment Awards, the judges described it as a, “spectacular year … which has shattered all previous records for entry numbers and quality of applications.”

 

Up against a mix of exceptional blue-chip companies, innovative firms and impressive public sector and educational bodies, PKF-FPM were delighted to be announced winner of Managing Talent Award for Large Companies at Northern Ireland’s premier business awards on June 14, when more than 600 guests gathered for the glittering bash in Titanic Belfast.

 

Congratulating PKF-FPM on their achievement, The Irish News stated “It’s been another momentous year for a company that, where managing its talents are concerned, has for years been a champion of evolutionary change. Its staff are continuously challenged to move outside their comfort zones, and the systems it has in place to develop its staff are constantly evolving and improving. Its training isn’t just good, it’s world class.”

 

At PKF-FPM our focus is to lead, mobilise and energise our most vital resources for orchestrating strategies and solutions for clients – our PEOPLE.

 

PKF-FPM Staff Director, Teresa Campbell, said: “We’ve been successful in building an exceptionally talented team here at PKF-FPM and I know that all of them will enjoy celebrating this award just as much as I will.  By connecting, coaching and inspiring staff, we empower TEAM PKF-FPM to be the very best that they can be. Watching staff grow and develop into exceptional practitioners and leaders is a major motivator for us. We’ve got big plans for the year ahead, where we’ll keep trying to be even better for our clients. We can’t wait for another great year.”

 

Over the past 12 months, we’ve invested heavily in our team and this award comes after winning Tax Team of the Year at the Irish Accountancy Awards 2018 and being placed in The Sunday Times 2018 100 Best Companies to Work For, earlier this year.