by Caoimhe | May 11, 2015 | News
Sunday Business Post, 4th January 2015 The outlook for small firms is positive in 2015 with two-thirds reporting that their business is growing while a further 28 per cent report stable business levels, a new survey shows. The Small Firms Association (SFA) said nearly three quarters of firms surveyed predict strong investment levels in their business in the next 12 to 24 months with just eight per cent not planning further investment at present. Brand development is the priority for 41 per cent of firms with 26 per cent planning to invest in staff, 18 per cent in IT and 13 per cent in improving customer knowledge. “Small firms have now moved from survival mode to focusing on how they can grow their market share,” SFA director Patricia Callan said. “Brand development and marketing are key parts of this strategy and hiring and retaining the right people is already emerging as a problem in many sectors, particularly in IT and high-tech sectors.” She said reductions in tax and improving access to finance will remain priorities for small firms in...
by Caoimhe | Nov 24, 2014 | News
From the Irish Independent, 17/11/14 Nine out of 10 businesses are either stable or growing, across the island of Ireland and it is no longer just exporters and multinationals feeling the benefits of economic recovery. Smaller business and companies focused purely on the home market are showing signs of recovery, according to a new report from north/south focused Inter Trade Ireland. According to the InterTrade Ireland Business Monitor for the third quarter of 2014 45pc of firms in Ireland reporting growth in the three months to the end of September . It found that companies of all sizes, and across all sectors are now experiencing recovery. In the same period 12pc of firms reporting an increase in staffing levels, up slightly from the previous period. Profitability is also improving. Having been the worst hit by the crisis the construction sector is now the most optimistic, with 35pc of construction firms indicating that they are less cautious about undertaking investment than they were a year...
by Caoimhe | Nov 10, 2014 | News
From the Irish Independent 21/08/2014 The Revenue Commissioners have recently been seeking payment of underpaid VAT in cases where taxpayers have issued incorrect VAT invoices and zero-rated supplies in error. The VAT regulations provide that the EU VAT number of the customer should be stated on all VAT invoices where the “reverse charge” applies. Otherwise the supply is liable to Irish VAT. Care should be taken in this regard as this error can prove costly – the legislation provides for fines of €4,000 payable per incorrect invoice. A valid VAT invoice is generally required in order to reclaim VAT paid to suppliers. It is therefore important that a business is satisfied that it is receiving proper VAT invoices when making claims for repayment of VAT. Where simplified or electronic invoicing is being used, businesses should ensure that all the relevant required procedures are adhered to. Invoice timing Taxpayers should also ensure that all VAT invoices are issued in a timely manner. VAT invoices must be issued by taxpayers within 15 days of the end of the month in which the goods or services were supplied. The Irish VAT regulations provide that an invoice is only valid where the following information is stated on the invoice: the date of issue of the invoice; sequential number, based on one or more series, which uniquely identifies the invoice; the seller’s full name, address and VAT registration number; the purchaser’s full name and address; In the case of a “reverse charge” supply of goods or services to a customer registered for VAT in another Member State: the customer’s VAT number; and an indication...
by Caoimhe | Oct 11, 2014 | News
We would like to welcome you to our new website. In the coming months and years, we will be updating you with all the financial news and updates that you require to run your business. We look forward to hearing from you and hope you will find our site informative and...
