Our aim is to help businesses grow, to increase their profitability, improve their cash flow and reduce their tax liabilities so that they have more disposable income. Please feel free to call us on 021 4310266 or email us at pm@parfreymurphy.ie if you wish to do business with us
PAYE MODERNISATION 2019
PAYE modernisation is a real-time reporting (RTR) payroll system which takes effect on January 1, 2019 and will enable Revenue to ensure that employees are receiving their correct tax credits and cut-off points so that the correct deductions are being applied for every employee throughout the year when they are paid as compared to the current PAYE reporting system which is done by the preparation and filing of P35's on an annual basis.
This ensures that Revenue have accurate information for employees at all times and also employees will have full online access in real time to their payroll information as submitted by their employer to Revenue.
With real-time reporting the employer needs to ensure that he reports accurate data on a real-time basis each pay period. This will minimise the risk of employees being either overpaid or underpaid.
The Innovation Voucher initiative was developed for small businesses to purchase academic support and expertise from Ireland's public knowledge providers. Innovation Vouchers worth €5,000 are available to assist a company to explore a business opportunity or problem with a registered knowledge provider.
The Innovation Vouchers initiative is open to all small and medium-sized limited companies registered in Ireland.
81% of applications are successful. The main reasons for non- success are non-eligibility of the applicant insufficient information, ineligible activity and low level of innovation. If unsuccessful you can reapply.
HMRC in the UK recently issued guidance just in case the powers that be fail to reach agreement and the UK crashes out of the EU on 29th March 2019 - a so-called hard Brexit. This may be useful for Irish importers and exporters.
Customs procedures with a "no deal" Brexit
Essentially the two-way free movement of goods between the UK and the EU will cease and the raft of changes that firms trading with the EU will need to accommodate are significant.
Whilst the political process is deadlocked, or so it would seem, the information shared below is very much the worst possible outcome for importers and exporters to the EU from a red-tape perspective. If the government is successful in negotiating a softer version for the UK exit from the EU, then some, or perhaps all, of the following changes may not have to be made.
P30 quarterly return and payment for July-September 2018
Deadline - 14 October 2018
PSWT
Return and payment for September 2018
Deadline - 14 October 2018
DWT
Return and payment for September 2018
Deadline - 19 October 2018
VAT
Annual VAT 3 return and payment for the period October 2017 - September 2018, together with the Return of Trading Details where the accounting period ends in September
Monthly VAT 3 return and payment for September 2018 together with the Return of Trading Details where the accounting period ends in September
Deadline - 20 October 2018
VAT
MOSS VAT return and payment for the period July - September 2018
Deadline - 23 October 2018
RCT
Monthly return and payment for September 2018
Quarterly return and payment for period July - September 2018
Deadline - 23 October 2018
VIES
Monthly return for September 2018
Quarterly return for period July - September 2018
Deadline - 31 October 2018
Income Tax
Preliminary Tax 2018
Pay balance of 2017 tax liability
Return of income for 2017
Deadline - 31 October 2018
Capital Gains Tax
Return of Capital Gains for 2017
Deadline - 31 October 2018
Capital Acquisitions Tax
Return and payment of CAT due in respect of gifts/inheritances where the valuation date arises between 1 September 2017 and 31 August 2018
Deadline - 1 - 21 October 2018
Corporation Tax
Preliminary Tax for accounting periods ending between 1-30 November 2018
First instalment of preliminary tax for "Large Companies" with a financial year ending between 1 - 30 April 2019
Returns for accounting periods ending between 1 - 31 January 2018
Pay balance of tax due on accounting periods ending between 1 - 31 January 2018
Returns of third party information for accounting periods ending between 1 - 31 January 2018
Where returns and payments for RCT, VAT, PAYE/PRSI and Corporation Tax are made electronically, the return and payment deadlines are the 23rd day of the month where relevant
