Our aim is to help businesses grow, to increase their profitability, improve their cash flow and reduce their tax liabilities so that they have more disposable income. Please feel free to call us on 021 4310266 or email us at pm@parfreymurphy.ie if you wish to do business with us
THE 5 BIGGEST ACCOUNTING MISTAKES MADE BY SME'S
By Noel Murphy
The following article (slightly edited by me) was recently published in the US by CPA Practice Advisor and is as relevant here as in Trumpland:
"Small business owners face numerous everyday challenges, and they usually conquer them with their entrepreneurial strength. Unfortunately, keeping the books on their growing business is not a skill someone can simply persevere through and get it right.
And the potential consequences of messing up on the accounting functions can have serious consequences when it comes to the success or failure of a business. The founders of the cloud accounting system Freshbookshave come up with the top five accounting mistakes that small business owners face, and how to avoid them
WHAT QUALIFICATIONS DOES A COMPANY SECRETARY NEED?
By Noel Murphy
The secretary of a private company is not required to have any formal qualifications.
However, the directors must take all reasonable steps to ensure that the secretary has the skills necessary to discharge his/her statutory and other legal duties and such other duties as may be delegated to the secretary by the directors.
Under the Companies Act 2014, a director of a company:
Cannot be under the age of eighteen
Cannot be a body corporate
Cannot be an undischarged bankrupt
Cannot be a director of more than 25 companies unless those other companies are exempted
Cannot be disqualified as acting as a director
TAX DEADLINES & REMINDERS
By Una Beecher
Deadline - 14 May 2017
PAYE/PRSI
P30 monthly return and payment for April 2017
Deadline - 19 May 2017
VAT
Annual VAT3 return and payment for the period from April 2016 to May 2017 together with the Return of Trading Details
Deadline - 23 May 2017
RCT
Return and payment for April 2017
Deadline - 1 - 21 May 2017
Corporation Tax
Preliminary Tax for accounting periods ending between 1-31 June 2017
First installment of preliminary tax for "Large Companies" with a financial year ending between 1 - 30 November 2017
Returns for accounting periods ending between 1 - 31 August 2016
Pay balance of tax due on accounting periods ending between 1 - 31 August 2016
Returns of third party information for accounting periods ending between 1 - 31 August 2016
Where returns and payments for RCT, VAT, PAYE/PRSI and Corporation Tax are made electronically, the return and payment deadlines are the 23rd day of the month
