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Parfrey Murphy
Chartered Accountants
Lee View House
South Terrace
Cork
Ireland

T: +353 (0)21 4310266
E: pm@parfreymurphy.ie
E-Newsletter
June  
2019
 
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
WILL YOUR ECOMMERCE SITE STILL BE ABLE TO TAKE PAYMENTS AFTER SEPTEMBER 14TH?
Seamus Parfrey
By Seamus Parfrey

You may have heard the ads on the radio or received emails from your payment processors about the new requirements for payments which will be mandatory after September 14th under the EU Payment Services Directive 2.  

It is important that you act on this, as if you do not it is highly likely that customers will start experiencing problems paying online after September 14th, Just 10 weeks away now.




LOSS OF AUDIT EXEMPTION & DISTRICT COURT APPLICATION
By Noel Murphy

Changes introduced in the Companies (Statutory Audits) Act 2018 from 21 September 2018 mean that audit exemption is now lost for the following two years where an annual return is filed late and not in the current year. 

So an annual return that has been submitted late does not lose any potential audit exemption for that year but will not be eligible for audit exemption for the following two years. Any late filing penalties must be discharged as usual to the CRO.

This change will avoid a costly and time-consuming audit if the financial statements have been already completed.


 
 

UK SUBSISTENCE AND IRHA?
Seamus Parfrey
By Seamus Parfrey

The Irish Road Haulage Association (IRHA) have an arrangement with Revenue on the payment of UK subsistence.
 
To avail of this arrangement a firm must be an IRHA member and if not an IRHA member the generic Revenue guidance document for subsistence applies.
 
It is important to note that any payments to drivers in respect of subsistence must be supported by full and compete records.





OF COURSE IT COULD BE BETTER

Seth Godin recently blogged that


That's not the question, not really.

The question is, "what are you going to do about it?"

And, to follow up, "what effort are you willing to put in to make it better?"

If you're not willing to make it better, it's probably going to stay the way it is.

The first day of summer is right around the corner (or winter, if you live in the other hemisphere).

The changing of seasons is as good a time as any to say, "now, I'm going to make it better."

The key word isn't 'better'. The key words are now and I.
Parfrey Murphy
+353 (0)21 4310266
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