John M Shanahan & Co.

linking practice to business

Chartered Accountants
Registered Auditors

Phone: 057 93 22100


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.

Plot to fill your Pension Pot

Do you have a plan to fill your Pension, you'd be surprised the number of taxpayers who keep putting off the task.

May 24, 2019

We should each year renew our focus on pensions and ensure that with proper planning, we can provide for a comfortable steady income in Retirement.

We are all too aware of the fact that the level of pension coverage in Ireland is quite poor. Too few people have pensions. Therefore this means people will have to work longer to maintain an adequate standard of living or live off the State pension when they eventually get to draw this down; and as you well know, that pension age is gradually being pushed out as a consequence of people living longer. It will go to 67 from 2021 and to 68 from 2028.









We at, John M Shanahan & Co, Chartered Accountants, Tullamore, Co Offaly have taken a look at focusing on company pension schemes for owner company directors and looking at options at retirement in terms of drawing down the funds.

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Nursing Home's imposition of unfair and unwanted top-up Fees

Unfair & unwanted additional fees, the blame game continues between private Nursing Homes and the HSE.


May 07, 2019

As private nursing homes have been repeatedly criticized for charging “top-up” fees of up to €100 monthly, the finger is being pointed at the Health Service Executive for not funding care packages under the Fair Deal scheme sufficiently to allow for such services to be covered, and so the blame game continues.










We at, John M Shanahan & Co, Chartered Accountants, Tullamore, Co Offaly have taken a look at the punitive top-up fees within the monthly bills presented to Family members / those in the Charge of residents within the Care system and the recommendations to deal with them.

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Revenue's use of VAT RTD to force Compliance.

VAT Return of Trading Details - remember, this Form should be filed as soon as possible after your year end.


April 18, 2019

The VAT RTD return provides an annual summary of the VAT returns filed for the year end is due by the 23rd day of the month following the period end, e.g. the RTD (Return of Trading Details) return for the period ended 31 December 2018 is due by 23 January 2019.










We at, John M Shanahan & Co, Chartered Accountants, Tullamore, Co Offaly have taken a look at how Revenue are using this Form to delay refunds to taxpayers and companies and force compliance. 

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To Exit or Not, the BREXIT burning Question.

With a No Deal Brexit scenario facing many, having a presence in Ireland may now make sense.

March 26, 2019

If the UK does fall on its face with their hands in their pockets by not agreeing to a formal withdrawal agreement by 29 March 2019 then its status under EU law would change from that of an EU Member State of the European Union to that of a third country. The consequences of this change would result in the UK being outside the Single Market and Customs Union and have no trade or co-operation agreements in place with the EU.











We at, John M Shanahan & Co, Chartered Accountants, Tullamore, Co Offaly have taken a look at the option of having a presence in Ireland. 

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Economic Operators Registration and Identification system (EORI)

Non-domestic Trading, post Brexit, Revenue are now stepping up a gear.. better late than never.

February 7, 2019

If you trade with the UK, then Brexit brings with it very significant challenges for your business.
When Brexit happens, and it will, customs procedures will apply to trade and movement of goods with and through the UK. That means you must comply with certain customs requirements. Advance planning by you is vital, otherwise your business will experience potential delays on imports or exports.








We at, John M Shanahan & Co, Chartered Accountants, Tullamore, Co Offaly have taken a look at the need for having an EORI in place. 

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Starting new Business in 2019 - Help to make it happen.

The things Entrepreneurs should know before starting their new Business.

Entrepreneurship is not everyone’s cup of tea, and definitely not for the faint hearted. No amount of formal education can teach you the essentials of how to do a business in the real world today. It is a trait you can cultivate while on the job, some say its in the skin. Even then, having a good knowledge of how to start and manage a business should hold you in good stead and bring you along the road to success.

Practices, tools, strategies  are essential toolkit implements to have in your possession. Check out our bullet points which can act as realistic guidance on your journey.

We at, John M Shanahan & Co, Chartered Accountants, Tullamore, Co Offaly have listed some salient points for inclusion in your armoury. 

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Budget 2019 - faced with so many demands for Funds and Assistance meant the Minister could not achieve any high impact moves -  playing it safe, knowing there is only so much in the Cookie Jar.

October 13, 2018


On the 9th October Paschal Donohoe has delivered his budget speech as Minister for Finance and set out the  budgetary measures from the Government in a time where we are watching many risks to the economy unfold such as a US trade war, a possible EU crisis with Italy in the mix and closer to home the all encompassing Brexit or no Brexit deal which has the capacity to send Ireland back into a recession.

We at, John M Shanahan & Co, Chartered Accountants, Tullamore, Co Offaly have looked at the main points for inclusion in Budget 2019. 

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Check-in Time - Its your Income tax Deadline 2017

Fast Approaching Tax filing Deadline - make sure you have met your tax obligations and sleep earlier.

October 5, 2018


The income tax return deadline for the tax year 2017 is fast approaching.  In order to ensure you are compliant, returns must be filed on or before the 31st October 2018.
However, taxpayers who both file their return of income and make the appropriate payment though ROS for:

  • Income tax balance due for 2017, and
  • Preliminary income tax due for 2018,

can avail of Revenue's extension to the normal filing date and file by 14th November 2018.
The responsibility is on the individual taxpayer to file the return, calculate the liabilities due and pay the taxes on time.

It is advisable to seek our guidance when preparing your return in order to ensure the maximum reliefs are availed of and the correct liabilities are calculated, so don't be penny wise and pound foolish.

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Non Residential Landlords & Rental Tax

As Landlords renting a property in the State but living abroad, you still have an obligation to make an Irish tax return on your rental Income.

September 29, 2018

If you’re renting a property in the Republic of Ireland but live abroad, there are a few things you might want to know.
Whether you live in Belfast Northern Ireland or Buffalo New York, if you rent property in the Republic of Ireland any money you make from lettings is still chargeable to the same tax as residents of the State. Your gross monthly earnings are subject to income tax, and you're still required to submit a tax return to the revenue every year.







However, in terms of paying your tax, the standard practice for non-resident landlords is that your tenants withhold the standard 20% income tax from their monthly rent and pay it to the revenue on your behalf.

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Tax Relief on Third Level Tuition Fees

Revenue refer to it as a "Tax Relief on Tuition Fees" - small, but not too insignificant to Ignore.

September 28, 2018

As colleges has just started back the costs of third level education become apparent, you as the parent or payee will be happy to know that some relief is available.
The person who pay tuition fees for third level courses on their own behalf or on behalf of another can claim the tax relief.







However the tax relief is available only at the standard rate of 20% (and even that is subject to restrictions) on tuition fees including the student contribution (sometimes called a registration fee) paid for full or part-time third level courses. For the academic year 2018-2019, the student contribution is capped at €3,000.

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PAYE Modernisation

Revenue's way of off-loading work, at no cost to you - the employer - now that's a myth surely.

September 2, 2018




Billed as PAYE modernisation, Revenue is moving towards Real Time Reporting (RTR) for employers. This is a significant development. It follows the path taken by the UK, where RTR has been in place since April 2013.
RTR has been in place in Ireland for Relevant Contracts Tax (RCT) since 1 January 2012.


PAYE RTR will mean having to report pay, tax and other deductions, as well as any employees leaving their employment, at the same time as you run your payroll function - be aware of the effect on your business.



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