John M Shanahan & Co.

linking practice to business

Chartered Accountants
Registered Auditors

Phone: 057 93 22100

email: info@shanahan.ie

Below you will find articles of interest to all matters of business, penned by the company's principal, John M. Shanahan.

You may access the complete article by clicking on the relevant Read More button in the article previews below. Feel free to contact us if you would like more information on any of the matters covered here.

Family Wages - Tax deductibility in Paying Family members

Keeping it in the Family, Fair Pay that reaps Financial Rewards are Tax deductible.

May 31, 2018

 


 

 

In cases where spouses, children or other family members assist in the running of a family
business and receive payment for their work, such individuals are treated and taxed as any other employee,  however the tax deductibility of wages paid to them may be open to scrutiny by Revenue.

The sole purpose for incurring the expense must have been for the purposes of the trade. Where a non-trade purpose is identified, then the Revenue will disallow such expenditure in the business accounts.

 


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Filing Returns with Companies Registration Office

How Directors are confused by the Company Annual Return Date... Don't be Late through the filing Gate.

May 20, 2018

 


 

 

 As a company director you are aware that all companies – active or dormant – are required to file an Annual Return (Form B1) with the Companies Registration Office (CRO) each year. All companies have a unique Annual Return Date known as its ARD. This date can be a maximum of 9 months after the company year end.

 


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Tax Build-up - Can't cope ... little hope

How to buy time when you are struggling to pay a build-up of Taxes.

April 27, 2018

 


 

 

 

There are few things so frightening in business, or indeed in life, as a tax bill you can’t pay.

If you are stuggling with paying Revenue debt, the bad news is that unpaid tax bills are far more serious than other types; the Revenue do not require a Court Order to start recovery proceedings and can very easily force you into bankruptcy.


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Tax Obligations - Non-Resident Landlords

You own a property in Ireland and decided to work abroad for a few years, you have since let your property for the duration.

April 2, 2018

 

 

Depending on where you live, i.e. your residence and/or domicile you may be taxable on both your Irish and foreign source income, your Irish source income only or only on income that is actually brought into Ireland.


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Can the Landlord and the State still be friends

Inherent disrespect by the State for the small providers of Rental  accommodation will only lead to more Landlords leaving the market and by default institutional investors becoming the principal participants.

March 18, 2018

 

What planet is the government on when it thinks a carrot of €5,000 is going to cut any ice  with a builder when it comes to renovating an unused property, the landlord would need to have access to multiples of €5,000 before a builder would entertain him when it comes to any kind of decent renovation work today.


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The Solitary e-worker

Home alone, the e-worker operating from a desk in the room.

March 14, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Generally e-Working is regarded as a method of working using information and communication technology in which the work-related activity that is carried out is not bound to any particular location.


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Minimum Wage 2018

Revision of Minimum Wage,  2018.

February 28, 2018

 

 

 

 

 

 

 

 

 

Generally, the amount of pay you receive for working is a matter for agreement between you and your employer. These negotiations normally occur when you receive an offer of a job. However, under the National Minimum Wage Act 2000, most employees are entitled to a minimum wage.


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How does your Business Grow

5 Ideas on How to Grow your fledgling Business.

February 26, 2018

Building a reputation and growing your business takes a lot of blood sweat and tears. But it’s definitely worth it. Businesses that occupy strong positions in the market can build their customer base quickly and attain additional resources to help it growth.

 

 

 

 

 

 

 

 

 

 

 

Here are 5 ideas to help you grow your new business and spread the word about your excellent product or services to a broader audience.


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New Beginning - New Business - New Company, let's GO.

Has your Idea of working for yourself been worked through in your mind - Now you are ready - take a deep breath and Jump.

January 30, 2018

Setting up your own limited company is a big step. And though it’s highly rewarding, there are also a number of things to consider before making that leap of fate.

There are two main options open to entrepreneurs setting up in Ireland – sole trader or limited company.

 

 

 

 

 

 

 

 

 

 

To help you to prepare for when the time comes, we’ve put together some of the limited Company option  - questions, pitfalls and reasons for choice  - you should consider.


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How has your Company remained outside Revenue radar

Has your Company still got a heart beat but remained dormant - Now Revenue want to know more.

January 10, 2018

 

In early December 2017, Revenue issued two separate notices, namely:-

  • notices to companies that registered with the Companies Office (CRO) during 2014 but have not yet registered their trading status with Revenue; and
  • reminder notices to companies that registered with the Companies office in 2015 and 2016.

 

 

 

 

 

 

 

Not to be ignored - these notices requires a reply, either to request a tax registration or to provide an update on the company's status.

 


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Christmas & New Year Wishes

Best wishes to all our friends, clients and associates

December 21, 2017

 

We would like to wish you all a Merry Christmas and a Happy New Year in 2018.

 

 

 

Thank you for your continued support throughout the year and we hope that 2018 will be a successful year for you, your family and your business.
 
From all the staff.

 

 

 

 

 

 

We will close for the Christmas and New Year Holidays from Thursday 21st December 2017 at 5:30 pm and re-open on Thursday 4th January 2018 at 9:00 am.

 


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