Budget 2024 Highlights

If you need a handy reference document showing what the Budget 2024 covers, we’re happy to oblige. Taxation: The Universal Social Charge (USC) has been cut from 4.5% to 4%, the first reduction in USC rates in five years The point at which workers pay the top rate of...

Accountants Relationship with Clients

We are D.V. Mannion, an accounting firm in Galway, and we love what we do. We help our clients with their financial needs, from bookkeeping to tax planning, and we always strive to provide the best service possible. But we don’t just see our clients as numbers...

DIRECTORS PPSN REQUIRMENTS CRO

According to an upcoming provision in the Companies Corporate Enforcement Act (2021), directors will soon be required to provide their Personal Public Service Numbers (PPSNs) to the CRO in several instances, such as when incorporating a new company, updating...

SOLE TRADER V INCORPORATED COMPANY

A sole trader in Ireland is a business that is owned and operated by a single individual. This type of business structure is relatively simple to set up and manage, and there are relatively few legal requirements that must be met in order to operate as a sole trader....

WHAT ARE THE KEY ELEMENT TO KEEPING YOUR BUSINESS AFLOAT?

Keep your books up to date all the time. It might be tempting to put off “doing the books” since it’s a bit of a chore, but if you force yourself to do it regularly it becomes a habit and you’ll have the advantage of knowing what your figures are at all times. As soon...

THE NUMBERS THAT MATTER

What numbers do you need to track to manage your business effectively? Depending on your goals, there are several ways to track your numbers, but the basics for all businesses are: turnover; cost of sales; operating expenses; taxes; and operating profit. Turnover –...

TIPS AND GRATUITIES – NEW LAWS

New laws on gratuities mean that businesses in hospitality – restaurants, hotels, taxis, hairdressers, delivery services, among others – must distribute all tips, gratuities, and service charges received by electronic means fairly to staff, including contractors,...

TEMPORARY BUSINESS ENERGY SUPPORT SCHEME (TBESS)

In October Revenue announced the introduction of the Temporary Business Energy Support Scheme (TBESS) to assist companies in Ireland who are suffering from large increases in their operating energy costs. Whether gas or electricity, so long as your company is tax...

CLAIMING TAX RELIEF ON HEALTH EXPENSES

You must have receipts for any of the expenses you wish to claim relief on, and can claim for the last four years. If you have private health insurance, you can claim tax relief on the portion that is not covered by your insurer, i.e. your “excess”. If you are...

BUDGET 2023 KEY POINTS FOR BUSINESS

Budget 2023 has been delivered and digested by many interested parties across the country. But what does it actually mean for your business? Energy Costs A new scheme, The Temporary Business Energy Support Scheme (TBESS) will assist SMEs by paying for 40% of the...
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