Latest News

Latest News
03.09.2020

ACCELERATED LOSS RELIEF FOR COMPANIES

As part of the July Stimulus package recently announced, companies incurring losses in 2020 may be able to make a claim to elect for 50% of the estimated losses to be allocated against prior profits, thereby resulting in a tax refund or a reduction in the level of corporation tax being paid. To avail of…

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01.09.2020

COMPANIES (MISCELLANEOUS PROVISIONS) (COVID 19) ACT 2020

The Companies (Miscellaneous Provisions (Covid-19) Act 2020 which has now been signed into law makes, temporary amendments to the Companies Act 2014 for an interim period up until the 31st December 2020 in response to the challenges Companies may experience as a result of the Covid-19 pandemic. This interim period can be extended further under…

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27.08.2020

Estate Planning – Opportunity in Adversity

“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…

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12.08.2020

Buying a business

When 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…

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06.08.2020

Are your accounting policies appropriate and up to date?

Accounting 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…

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30.07.2020

Business Reaction to Covid-19

We 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…

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21.07.2020

RECALIBRATE: DEBT REORGANISATION AS A CONSENSUAL SOLUTION

The 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…

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16.07.2020

REVITALISE: PREPARE FOR THE NEXT NORMAL NOW: OWN THE NARRATIVE

Our 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…

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09.07.2020

RESPOND: SHIELDING YOUR BUSINESS FROM COVID: BLACK SWAN OF 2020

Unforeseeable, 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…

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06.07.2020

Pensions – 2020 Programme for Government

State 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,…

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