Latest News

Latest News
23.11.2020

BREXIT – EEA Resident Directors Requirements

The UK left the European Union as of 31st January 2020 but transitionary provisions continue in place up until 31st December 2020. Over the course of this year, the UK’s trading relationship with the EU has remained the same. The UK has continued to follow EU rules, has remained under the jurisdiction of the European Court of Justice and has stayed…

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23.11.2020

Income Tax Debt Warehousing – Can you avail of it?

The online income tax filing deadline for the year ended 31 December 2019 was recently extended to the 10th of December.  Payments to cover the balance of income tax due for 2019 and preliminary tax for 2020 are also due to be lodged with Revenue by the 10th of December.  Unfortunately, the most self-assessed tax payer will have seen their incomes eroded in…

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19.11.2020

VAT & Customs – BREXIT IMPLICATIONS

While the trade deal between the EU and UK is still far from clear as of November 2020, there is certainty around tax changes that are happening on 1 January 2021.  On 31 January 2020 the UK left the EU and entered into an 11-month transition period.  From 1 January 2021 the UK will no longer be in the EU customs union…

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12.11.2020

MOVING THROUGH UNCERTAINTY

At Cooney Carey we have always known the value of our people and the importance of looking after each other. This has never been truer than during the current Covid-19 pandemic. To support our team during this time we are hosting an online event called “Moving Through Uncertainty”.  Neil Kelders, an international mental health speaker…

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12.11.2020

TAX PLANNING FOR YOUR PENSION

“If you fail to plan, you are planning to fail”  Benjamin Franklin  A 2020 publication from the Central Statistics Office stated that only 60% of workers aged 20 to 69 have some of form of pension. Of 40% with no pension, the main reasons cited were that they either didn’t get around to it, couldn’t afford it or thought…

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02.11.2020

Employment Law (why it exists & where it came from)

Employment law exists to regulate the relationship between businesses and their employees. By complying with relevant legislation, both employers and their staff members can ensure that their hiring processes, dismissal processes, and their workplace as a whole, are fair for every individual.  There are so many laws relating to HRM practices because they need to protect the rights of both employers and employees. Since…

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10.09.2020

Here’s a Tip to see if you have a good accountant

Step 1 – give them loads of data e.g. 1 bankers box.  Your accountant will be delighted as we love data and we generally put it into a big spreadsheet with loads of complicated formulae. Step 2 – ask them to review the data and give you their view, to empower you to make a…

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10.09.2020

What does an Auditor mean by “Materiality”

An auditor will calculate a monetary value as the “materiality” level applicable to those financial statements he/she is auditing. The value will be based on the auditor’s professional judgement and their perception on the financial information needs of the users of the financial statements. The auditor will generally calculate materiality by applying a percentage value…

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03.09.2020

REDUCTION IN STANDARD RATE OF VAT

Revenue have recently announced as part of the July Stimulus package a temporary reduction in the standard rate of VAT from 23% to 21%.  All other VAT rates will remain unchanged. This is due to take effect from the 1st of September and will remain in place until the 28th of February 2021.  While this…

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03.09.2020

REDUCED INTEREST RATE APPLICABLE TO NON- COVID-19 TAX LIABILITIES

As part of the measures included in the July Stimulus package, a reduced interest rate on overdue non-COVID-19 tax liabilities has been introduced. Where a taxpayer enters into a payment arrangement with Revenue in respect of non-COVID 19 tax liabilities before the 30th of September a reduced interest rate of 3% will be applicable to…

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