Business News

Are you fit to be a Company Director

20th October 2011

Individuals acting as company directors in 2011 are more aware than ever of the precarious nature of the role, given that many small to medium sized companies in particular are finding trading difficult. We at O’KellySutton Accountants are continually being asked to advise directors on best practice for good corporate governance. Corporate governance is relevant…

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Maternity Benefit Ireland – have you overpaid tax and PRSI

17th October 2011

Maternity Benefit – have you overpaid tax and PRSI? Maternity benefit is not regarded as Income and should not be taxed. However, many employers make the mistake of over taxing their employees whilst they are out on maternity leave. This can happen if you continue to pay your employee their full wage as normal and…

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O’Kelly Sutton Organise IntertradeIreland Seminar in Kildare

3rd October 2011

Here is a recent press article of an event I organised to highlight an area of possible funding for businesses who trade with Northern Ireland. Picture on left – Paddy Savage (Intertrade Ireland) , Patrick Sutton (O’Kelly Sutton) and Peter Donnelly (Secret Cellar)

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Business Banking 2011 style

29th September 2011

For many SME’s and family businesses, dealing with banks has become a real challenge in 2011. As is common knowledge banks are under massive pressure trying to deal with the fallout from years of excess. Simply put they are short of funds, so have a real difficulty themselves. There are dealing with massive property related loan defaults and…

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The Revenue Commissioners are Coming

3rd August 2011

Beware – Revenue Commissioners are coming your way ! Over 90% of revenue audits are selected for a reason, meaning the chances of a random Revenue Audit is small. However recently Revenue are getting a lot smarter in their approach as we highlight with examples below;

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Relevant Contract Tax RTC to be introduced in 2012

28th July 2011

New Relevant Contracts Tax (RCT) system to be introduced in 2012 Work is well advanced on developing a new system, which is expected to be introduced on 1 January 2012. It will be subject to a commencement order to be signed by the Minister for Finance. These changes will affect all principal contractors and subcontractors…

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IntertradeIreland Funding

15th July 2011

Launch of €5 million support programme by InterTradeIreland for companies working on all Ireland collaborative innovation projects Level of investment provides vital financial support for SMEs to develop and commercialise innovative products and services Collaboration is key to commercialising new ideas, according to Minister Sean Sherlock speaking at the recent launch of InterTradeIreland’s Innova Programme…

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ERO System Ireland Ruled Unconstitional

13th July 2011

“In the landmark decision delivered by Mr Justice Kevin Feeney on July 7th, the High Court ruled that the ERO system is unconstitutional. The judgment is far reaching and has ramifications not just for employees in the catering sector and other sectors governed by 13 EROs currently in existence, but the wider landscape of Irish…

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New Vat Rate Ireland 2011

11th July 2011

The new reduced VAT rate of 9% for certain goods and services came into effect on 1st July and will remain in force until 31st December 2013.  The reduction in the VAT rate mainly impacts on tourism and leisure related activities. Goods and Services at the 9% rate: the supply of food and drink (excluding…

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Succession Planning Passing on the Family Business

9th June 2011

As experienced business and taxation advisors we see firsthand the practical difficulties in successfully transferring the family business to the next generation. Much of it comes from lack of communication and planning. Research shows that only 25% of family businesses successfully pass onto the next generations. However, if succession is looked on as an opportunity…

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