Relocating to Ireland? Moving to Ireland as a Secondee: Talk to an expert in Cooney Carey well in advance of your move to ensure that you benefit from relevant tax saving opportunities. Ireland is recognised as having a very favourable corporate tax regime. However tax rates applying to individuals are among the highest in Europe…
Read MoreSuccession planning for the next generation of family business owners The decision to transfer a family business to the next generation is certainly daunting. The main concerns should be commercial – How will the business continue without the current owner’s involvement? Does the successor have the skills and qualities needed to bring the business forward?…
Read MoreJust as we were all finalizing how we were following ISQC 1 revised (November 2019), the IAASB has now approved a new standard on 24 September, ISQM 1 to replace ISQC 1. As you might have garnered from the title ISQM stands for International Standard on Quality Management and the new title references the move…
Read MoreThe rules and regulations around health and safety in the workplace can be complicated, but they are there for a good reason, too. If one of your employees, or a member of the public get hurt on your premises and it transpires that you have not fully complied with your Health and Safety responsibilities, the…
Read MoreCompanies Registration Office (CRO) Digital Transformation Some of the key elements of the digital transformation will be: General 95% of forms will be online Less send backs and rejections of forms as there will be an integrated checking system of warnings and errors Faster processing times Company and society searches and document ordering will…
Read MoreOwners’ Management Companies Sinking (Building Investment) Funds You may know it as Sinking Funds or Building Investment Funds but in essence they are the same thing. The Multi-Unit Developments Act 2011 (MUD) refers to them as sinking funds so let us go with that. In simple terms a sinking fund is a savings account put…
Read MoreCorporation tax While Owners’ Management Companies (OMCs) do not trade for a gain they are required to register for corporation tax. A concession is available from Revenue and this concession will need to be applied for each year and confirmation received from Revenue. In some cases Revenue may provide the concession for several years on…
Read MoreOnce off levies Unfortunately, we are seeing more and more Owners’ Management Companies (OMCs) that are required to approve and charge out a once off levy. This is where a large expense arises, and the OMC does not have an adequate sinking fund to cover the cost (refer to our previous post on sinking funds.…
Read MoreAs discussed in a previous post the Multi-Unit Developments Act 2011 (MUD Act) requires that an Owners’ Management Company (OMC) to provide members with an Annual Report each year. Directors need to understand that this report is separate to their company law Director’s Report that is included with their Directors’ Report and Financial Statements. While…
Read MoreIntroduction With more and more of us living in larger developments the way and how people in Ireland are living is changing. Most of these developments will fall under the jurisdiction of the Multi-Unit Developments Act 2011 (MUD Act). If you have purchased a property of this type or rent one, you will know that…
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