News

PLATO EBR Training: Financial Management

This practical half-day financial management session on 10th May 2016 in Creative Spark, Dundalk seeks to provide attendees with an understanding of the principles of good financial management. Business owners must be financially pro-active not only in order to drive profits but to manage savvy staff and financial advisors! The training will take account of costing and pricing techniques and defining margins.  This training session will ...

Overdrawn directors accounts will now cost 32.5%

Question. I am considering using money from my own company to build up a personal share portfolio. It is my intention to pay the company back from profits I make on the stock market. Rather than take additional dividends or salary I might borrow the money from my company. What are the tax implications? Answer. A director’s loan account is simply an account in the balance sheet ...

In you I trust!

Question: I have built up considerable wealth and I am keen to pass this wealth on to my family but retain some control over the assets. Should I be considering using trusts and what are the tax implications? Answer: Trusts can be used in a variety of situations both to save tax and also to achieve other benefits for the family. Particular benefits include: if you ...

PKF-FPM Win Employer of the Year Award at the Irish Accountancy Awards 2016

Leading island based accountancy practice PKF-FPM Accountants won the Best Employer Award at the prestigious Irish Accountancy Awards Gala Banquet Ceremony which took place last night, 21 April 2016 at the Ballsbridge Hotel in Dublin. The Awards Ceremony, hosted by Richard Curran, Editor, The Sunday Business Post, attracted a very influential audience, including high profile leaders from the Irish business and accountancy sectors. As a result ...

Property investment – The Tax Minefield.

Question.  I run my own engineering company and I am considering buying property but I am not sure if I should do this personally or through my company. What are the main tax factors that I should be considering when making my investment decision? Answer. Investment in property has been and continues to be a popular form of investment by many people. An initial decision needs to be made ...

Rural Development Programme – Armagh, Banbridge & Craigavon

Please see attached details in relation to the Rural Development Programme which has opened in Armagh, Banbridge and Craigavon regions. We thought the Rural Business Investment Support may be of interest to you or your contacts whereby Businesses can get up to £90k capital grant assistance. We have attached in the link below further information for your reference. Rural Development Programme Dates of Madatory Workshops If any business is interested ...

When The Taxman Comes Calling

Question: I operate a large convenience store and last week I experienced an unannounced visit by three taxmen, waving a legal notice and insisting they inspect my business premises, business assets and business documents. What are my rights?  Answer: From 1 April 2009 officers of HM Revenue and Customs (HMRC) have significant powers to obtain information from taxpayers and to carry out inspections of business premises. The ...

Giving shares to employees

Question. I am currently considering giving some key employees the option to become shareholders in my company. However, I am unsure of the tax implications around this, can you please explain what options are available? Answer. Retaining and motivating staff are key issues for many employers. Research has shown a clear link between employee share ownership and increases in productivity. An effective way of giving shares to employees ...

Employer Support Programme

Please see attached details in relation to the Employer Support Programme which we thought may be of interest to you. Innovate Us and Skills Focus are skills development programmes which are funded by the DEL and delivered across Northern Ireland by Southern Regional College (SRC) along with other FE Colleges. The focus of Innovate Us is to enable small businesses to acquire the skills necessary to engage ...

The average farmer and his tax bill

Question. I am a farmer and my profits/losses fluctuate wildly from one year to the next caused by global prices and extreme weather conditions. I have heard of changes being introduced to farmers averaging and I would like to understand what this means for my tax bill. Can you explain?  Answer. Finance Bill 2016 is set to introduce an option for farmers to average their trading profits over ...