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Accounting in Corporate Structures Since the introduction of the new financial reporting standard FRS102 in 2015 we have found the accounting treatment of Investment Properties are not being dealt with correctly in many instances. Here are some basic rules to follow when accounting for your investment property this year. You are required to use fair…

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All directors must now disclosure their salaries to the public – how would you feel about your next door neighbour knowing your salary? Well under section 305 of the new Companies Act 2014, which came into effect in 1 June 2015, ALL directors including shadow directors and de-facto directors must now disclose their director’s remuneration…

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O’KellySutton are experienced and professional when talking over your business from a previous Accountant. It is a seamless and painless process. Here are the 5 key steps to follow: Arranging to meet with O’KellySutton at a time that suits you. O’KellySutton gets full briefing from you about your business and tax affairs. This is a…

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An Article by Patrick  Sutton, partner of O’KellySutton in the Sunday Business Post October 2013 Budget 2014 has its pros and cons however it does give a level of income certainty to consumer’s which is to be welcomed. It is hoped that this consumer confidence will be reflected in increased spending on the high street and give a…

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Just a quick reminder that the due date for payment of Capital Gains Tax on disposals made in the period 1 January to 30 November 2012 is on or before 15 December 2012. Payment of the tax due should be sent to the Collector General’s office and be accompanied by a CGT Payslip A. Disposals…

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As appeared in The Irish Times, Tuesday, 28th August , the Irish Greyhound Board (IGB) has hired consultants at Kildare-based accounting firm O’KellySutton to advise on its five-year strategic plan. This will involve evaluating some 1,200 submissions from stakeholders in the industry and formulating recommendations for the greyhound board that will take it to 2017. The…

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Recently the Dublin Circuit Court found a man guilty and sentenced him to jail for four years for failing to pay VAT on 119 second hand cars to the value of €226,718. He has since paid the tax of €226,718 that was due. The Judge, Martin Nolan said that sometimes tax evaders thought they could…

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