Archive for June, 2012

Finding investors for your startup can be tough. Luckily, there are well-established routes for Irish startup firms to apply to organisations such as Enterprise Ireland or local Enterprise Boards.
Here’s a brief overview of nine popular avenues for state-supported startup funding in Ireland.
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1. Enterprise Ireland: High Potential Startup (HPSU) fund
Every year, Enterprise Ireland picks out companies that it thinks could be ‘the next big thing’ to come out of the country. The agency puts its money where ...

If you’ve been reading the newspapers lately you will have seen that the Revenue Commissioners are now focusing attention on undeclared deposit accounts.
The Revenue have made it compulsary for banks, building societies, credit unions etc to make automatic returns to them on deposits they hold for customers.Â
What the Revenue is really going after is monies held in accounts which have not been disclosed.
Anyone with at least €100,000 on deposit (for 2005, 2006 or 2007) will be targeted. ...

Josephine Feehily, Chairman of the Revenue Commissioners, today (26/04/12) announced the publication of Revenue’s annual report for 2011.
Speaking at the launch, Ms Feehily said:
“Overall I would say last year was a year of really solid performance in challenging circumstances. We can report positive results in virtually all our business areas, good productivity, and some very interesting and innovative projects as well.
While overall tax and duty receipts were €831 million below the Budget target, net tax and duty ...

Missed Deadline
Failure to file an annual return on time can have several consequences including the imposition of the late filing penalty, prosecution of the company and/or its directors, the loss of the audit exemption or the possible involuntary strike-off and dissolution of the company.
Late Filing Penalty
A late filing penalty of €100 becomes due in respect of an annual return on the day after the expiry of the filing deadline, which deadline is 28 days after the effective ...

Big cup of coffee needed to read this one…………
————————
AN BILLE UM AN SÁSRA COBHSAÍOCHTA EORPACH,
2012
EUROPEAN STABILITY MECHANISM BILL 2012
————————
Mar a tionscnaíodh
As initiated
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ARRANGEMENT OF SECTIONS
Section
1. Definitions.
2. Payments by Minister in respect of authorised capital stock
of ESM.
3. Payments out of Central Fund.
4. Payments into Exchequer.
5. Privileges and immunities.
6. ESM exempt from requirement to be authorised or regulated.
7. ESM exempt from taxation.
8. Reports by ...

The 3 year loss rule for the self-employed who are farmers.
If you are registered for self-assessment, have made a loss on your business for the last 3 years, but chose to offset this loss against PAYE tax paid, this article will be of interest.
If you file your own returns or the person filing the return for you does not fully understand ROS you could have an issue. The issue, I feel, is due to a flaw with the ...

Many of my clients are delighted to see zero as their tax liability at the end of the year. The last thing most people want these days is another bill..
But its all very well having no tax to pay, but if you have no PRSI to pay, and you dont make a voluntary contribution, you are losing out on your opportunity to pay into the state pension.
For as little as €253 you could clock up a fulls years ...

Enhancement to Pre-population of ROS Form 11
ROS release weekend 12/13 May

Revenue eBrief 20/11 announced the availability of a facility to obtain a pre-populated ROS Form 11. A ROS release over the weekend of the 12/13 May has made a couple of enhancements to this facility.
Payments received from the Department of Social Protection.
Information on payments received from the Department of Social Protection (DSP) in the year 2011 will be made available where this information has been received from ...

The Minister for Small Business, Mr John Perry TD, announced the establishment by Enterprise Ireland of a €200K Competitive Feasibility Fund aimed at stimulating start ups and creating jobs and growth in the North West Region (Counties Leitrim, Sligo and Donegal). Funding of up to €25,000 per project will be available under this initiative. The objective of the Competitive Feasibility Fund for the North West Region is to assist a new start-up company or individual entrepreneur to investigate ...