MONEY SAVING TIPS FOR SMALL BUSINESSES

With all the challenges we are facing following the pandemic, Brexit, and the war in Ukraine, everything seems to be getting more expensive. How do you cope if you’re a small business with a limited budget? Here are a few ideas that might help. Look deeply at...

INFLATION EFFECTS ON SMALL BUSINESS

What is inflation? Inflation occurs if there is a broad increase in the prices of goods and services. It means that you can buy less for €1 today than you could yesterday. Why is inflation rising? Inflation has risen because when the economy reopened after the...

LIVING WAGE PROPOSED FOR ALL EMPLOYEES

The Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar, has proposed to introduce a living wage for all employees. The living wage will be 60% of the median wage in any given year, which in 2022 would be €12.17 per hour. The national minimum wage...

CRYPTOCURRENCY AND TAX

The tax treatment of cryptocurrency, crypto-assets, and NFTs is coming under increasing scrutiny from both Revenue and asset holders. Income vs corporation tax The most asked question about transactions involving crypto-assets is whether the transaction should be...

EXTENSION OF 9% VAT RATE FOR TOURISM AND HOSPITALITY SECTORS

The Minister for Finance, Paschal Donohoe, has announced the extension of the 9 percent VAT rate for the tourism and hospitality industry for a further six months. The 9 percent VAT rate, which was due to end on 31 August 2022, will remain in place for these sectors...

SOLICITORS LIMITED LIABILITY PARTNERSHIPS

On the 1st of November 2019 the Legal Services Regulatory Authority (LSRA) introduced the framework to allow existing partnerships of solicitors to apply for authorisation to operate with limited liability. Authorisation of a partnership of solicitors to operate with...

ROS – PAY & FILE EXTENSION DATE 2022

Revenue has announced it is extending the ROS return filing and payment date for certain self-assessed income taxpayers liable to capital acquisitions tax (“CAT”). The due date for the filing of the 2021 Form 11 and the payment of taxes is Wednesday, 16 November 2022....

SMALL COMPANY ADMINISTRATIVE RESCUE PROCESS – SCARP

The Companies (Rescue Process for Small and Micro Companies) Act 2021, which provides for the Small Company Administrative Rescue Process (SCARP) was commenced on Tuesday, 7 December 2021. The purpose of the SCARP is to provide an alternative to examinership and is...
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