Category Archives: Company Director

Be Careful with Redundancy Payments

Finger pointing at you

Be careful with redundancy payments. Why? Read on and you’ll find out. Let’s look at some of the issues involved that include Background Taxes at play Tax-free redundancy payments Case for the taxpayer Revenue Query Appeal Commissioner Summary Background To provide some background I’ll introduce you to the main characters. There’s dapper Dan O’Neil and

Having Enough Income in Retirement

Happy Older couple

Having enough income in retirement is a question that we all think about as we get older. But how much is enough? It depends on your standard of living, but most people want to be comfortable. Comfortable, for me, means a decent car, going for a few meals out, and a foreign holiday. Being able

Corporation Tax Tips

Tax office - hands out

We are going to look at some Corporation Tax tips to help your company save taxes. Larry Barry owns 100% of an engineering company Barry Can’t Swim Ltd. It arrives at my desk to review the taxes. Larry is a good man to throw a few tax conundrums our way and he certainly didn’t disappoint

Proper Books and Records

Miley Sirus didn’t keep proper books and records. Sure, he only had a modest income and couldn’t afford a professional bookkeeper. Is that last sentence a fact or is it fiction? Let’s explore what Revenue wanted, the money at play, and the result of the case. I will introduce you to Miley Sirus The Appeal

Universal Social Charge

Happy tax consultant with books

The Universal Social Charge [USC] came in after the financial crisis. It was to be a temporary tax and used to bolster the government finances. This was at a time of frequent visits by members of the IMF. But what was temporary has now become permanent. The USC is a tax, plain and simple. There

Deed of Covenant

Parents and child

What is a Deed of Covenant? A client asked us that question during the week. It’s a question we have on our Income Tax checklist. We send a checklist to clients to fill in before we complete their Income Tax returns. It got me thinking about covenants and the tax benefits for the payer and

Keeping Proper Books & Records

Tax man chasing a business woman

Keeping proper books & records is the law. It’s not something that is nice to do or something you’d like to do. It’s a must and is something that can give you very valuable commodities. Those commodities are money, time, and confidence. When I say it’s the law, there are plenty of pages and sections

How Xero will change your life for the better

The difference Xero makes to the lives of business owners can’t be overstated. The digital accounting software has been created specifically for entrepreneurs, designed to free up your time and give you a treasure trove of actionable insights. We’ve already looked at how cloud accounting will help your business, but let’s get more specific: here’s

How will cloud accounting help my business?

XERO

In 2024, using spreadsheets for your business accounting is clunky and inefficient. Desktop-based programs like Excel require extra hours and effort that could be spent developing your business. The answer? Digital accounting software. When operated correctly, this cloud-based technology streamlines your finances and yields reliable data you can use to your advantage. Let’s look at

Payroll – It isn’t Easy

Payroll package

Payroll. It isn’t easy you know. I see it as a mixture of IT, Payroll, Tax, and HR. Payroll is something I love doing. There’s great satisfaction in helping clients and their employees. A small difference in take -home pay can prompt a call to find out what’s going on. We are in an era