“in this world nothing can be said to be certain, except death and taxes” A quote from Benjamin Franklin that is as true today as it was in 1789! Taxation can be difficult to deal with whilst we are in the fullness of health! None of us would want to leave behind a myriad of…
Read MoreWhen seeking potential acquisitions, a purchaser is seeking:- Strong customer and client lists Strong brands Experienced management teams/key staff Access to new markets, key supplier relationships, licences Intellectual property Ultimately the purchaser wants to acquire future positive cashflows, which are either in place or have the potential to be realised. Acquiring an existing business is…
Read MoreAccounting policies are the specific principles, bases, conventions, rules, and practices applied by a company in preparing and presenting its financial statements. The company’s management shall use its judgement in developing and applying an accounting policy that results in information that is relevant and reliable. A company needs to be sure that the accounting policies…
Read MoreWe have witnessed the impact of Covid-19 on businesses in Ireland since mid-March 2020. It has had a particularly devastating effect in the retail and hospitality sectors. The Government introduced reliefs at an early stage of the pandemic. In particular, the TWSS scheme has been a success by delivering assistance directly to affected businesses. The…
Read MoreThe Central Bank, in its latest Financial Stability Review, 2020 has warned that the scale of economic shock due to COVID-19 is unprecedented and we are perhaps only at the end of the beginning as the challenges emerge. The review further goes on to state “Uncertainty remains about the likely mortgage default rate resulting from…
Read MoreOur Previous article Respond: Shielding Your Business From COVID: Black Swan Of 2020” provided six recommendations to respond to the disruption caused by the COVID pandemic. One of the key recommendations was to focus on assessing the cashflow of the company. It would be worthwhile to mention that cash and liquidity have played a very…
Read MoreUnforeseeable, detrimental and hindsight bias are the three characteristics of a “Black Swan Event”, a phrase coined by former wall street trader Nassim Nicholas Taleb and very commonly used in the world of finance. Owing to the unpredictable and unprecedented disruption/ loss that the COVID 19 pandemic has caused to Governments and businesses worldwide, it…
Read MoreState Pension To protect the State Pension and keep it as the bedrock of the Irish pension system, it is proposed to establish a Commission on Pensions to examine the sustainability and eligibility issues with State Pensions and the Social Insurance Fund. The Commission will outline options for Government to address issues including qualifying age,…
Read MoreThe Programme for Government runs to 126 pages and this paper is considering the main tax references in the document. Income Tax and Universal Social Charge (USC) There will be no change to income tax credit or bands in Budget 2021. It is intended that credits and rate bands will be indexed linked to earnings…
Read More“In time of recession there are massive opportunities and fortunes to be made, so for new up and coming entrepreneurs, this is the time to go and start a business.” Richard Branson Did you know that some of the world’s most successful companies were started in a recession? IBM, Microsoft, Airbnb are just some of…
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