Advantages of Management Accounts

Management Accounts allow businesses to produce weekly, monthly or quarterly reports which help track, record and keep an up-to-date eye on the financial information of their business. As management accounts do not have to follow any precise accounting standards, business …

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Budgets, Brexit & Bad Weather

Good things happen in threes they say, or is it bad things happen with ‘B’s:- Budgets, Brexit and Bad Weather? We’ll start with the ROI budget: – Ah sure that doesn’t affect me. Or does it? For years the ROI …

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Chargeable persons for self-assessment

In the Republic of Ireland chargeable persons are required to complete a return showing all income arising/earned and detailing the disposal of chargeable assets during the year of assessment which runs from January to December. The return is due by …

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Is your company carrying out research and development?

Many companies are still missing out on valuable tax breaks for expenditure on research and development (R&D). HMRC have recently updated their guidance on claiming R&D tax credit relief and have reminded companies that it is possible to obtain advance …

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Savings

From the 6 April 2016 the Government introduced what is called the Personal Savings Allowance. This means that basic rate taxpayers can receive up to £1,000 interest tax free and higher rate taxpayers can receive up to £500 of interest …

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New Bombshell for Self Employed: Pay 400% More National Insurance or Lose State Pension

National Insurance for the self-employed has been a hot topic in recent months, with Philip Hammond scrapping his proposal to increase Class 4 National Insurance Contributions (NIC) after facing furious backlash from Tory back benchers. However, despite the chancellor’s NIC …

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Are you Prepared for the Challenge?

5-6th August was a great sporting weekend internationally and locally :- The World Athletic Championships, the All Ireland Semi Finals, well done Tyrone, and Tri- The-Lough all fighting their own personal battles. These events are great for motivation as we …

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Tax Relief available on Donations to Charities

Many people donate to charities during the tax year but a lot of the time the tax relief available on these donations is not claimed. The main form of tax relief on donations to charities is through Gift Aid. If …

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DON’T DELAY – RENEW TODAY!

The tax credits renewal deadline is 31 July 2017 – DON’T MISS IT! If you don’t renew your tax credits before the deadline, your payments will automatically stop and you may have to repay the money you received since 6 …

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Are you getting Tax Relief on your Farm House?

Commonly a farmhouse will perform a dual function, one as the administrative centre from which the farming operations are carried out on the land associated with the farmhouse and the second as a domestic dwelling for the farmer. A portion …

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