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
CHRISTMAS GREETINGS
Merry Christmas and a happy New Year from all of us at Parfrey Murphy. This year we are making a donation to the Simon Community in lieu of sending Christmas cards.
So have a wonderful time with family and friends and we will see you all in 2018.
EMPLOYEES ANNUAL TAX FREE €500 BONUS
By Noel Murphy
E
mployers can reward employees under the Small Benefits Exemption Scheme with a non-cash bonus of up to €500 completely tax free this year 2017.
If guidelines are followed neither the company nor the employee will pay PAYE, PRSI or USC with a potential saving of over €650.
To qualify for the tax exemption, only one tax-free bonus may be paid to each employee in any one year. If more than one bonus is given in a year, it is only the first one that will qualify for tax-free status, even if this bonus is less than the €500 annual allowance - any used allowance cannot be carried over.
Let's take a look back and start planning for business in 2018...
As we approach the Christmas break, for most businesses the rush is on to collect money from customers, pay money to suppliers and get all records up to date.
We are approaching the end of another year and now is the time to look back at the business for the year that has been. It's a time to review performance as a whole, both the good and the bad, to ensure we capitalise on the positives and strive to eliminate the negatives next year.
P30 quarterly return and payment for October - December 2017
Deadline - 14 January 2018
PSWT
Return and payment for December 2017
Deadline - 14 January 2018
DWT
Return and payment for December 2017
Deadline - 19 January 2018
VAT
Monthly VAT 3 Return and payment for December 2017 together with the Return of Trading Details where the accounting period ends in December
Bi-Monthly VAT 3 Return and payment for period November/December 2017 together with Return of Trading Details where the accounting period ends between 1st November and the 31st December
4 Monthly VAT 3 Return and payment for period September - December 2017 together with the Return of Trading Details where the accounting period ends between 1st September and 31st December.
6 Monthly VAT 3 Return and payment for period July - December 2017 together with the Return of Trading Details where the accounting period ends between the 1st July and 31st December.
Annual VAT 3 Return and payment for the period January - December 2017 together with a Return of Trading Details where the accounting period ends in December
Deadline - 20 January 2018
VAT MOSS
Quarterly return and payment for October - December 2017
Deadline- 23 January 2018
VIES
Monthly Return for December 2017
Quarterly Return and payment for October - December 2017
Deadline - 23 January 2018
RCT
Return and payment for December 2017
Quarterly Return and payment for October - December 2017
Deadline - 31 January
2018
Capital Gains Tax
Payment due on gains arising between 1 December 2017 - 31 December 2017 inclusive
Deadline - 1 January 2018
LPT
Commencement of phase payments
Deadline - 10 January 2018
LPT
Deadline for paying in full, in one single payment or confirming that payment will be made in full by Single Debit Authority
Deadline - 15 January 2018
LPT
Commencement of monthly direct debit
Deadline - 1 - 21 January 2018
Corporation Tax
Preliminary Tax for accounting periods ending between 1-28 February 2018
First instalment of preliminary tax for "Large Companies" with a financial year ending between 1 - 31 July 2018
Returns for accounting periods ending between 1 - 30 April 2017
Pay balance of tax due on accounting periods ending between 1 - 30 April 2017
Returns of third party information for accounting periods ending between 1 - 30 April 2017
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
