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.

Company Resolutions and Statutory Duties

Company Registration Office filing ...maintaining and filing that statutory record is a Companies Act requirement that many take for granted and some may even overlook.

July 16, 2019

The business of the company is often required to be documented by way of resolution.  Such a resolution is just a formal name for a decision made at a meeting of a company (AGM or EGM) and a written resolution formally outlines the decision made by the members at that company meeting.
Special Resolutions and Ordinary Resolutions are governed by Sections 191-198 of the Companies Act 2014.

 

 

 

 

 

 

We at, John M Shanahan & Co, Chartered Accountants, Tullamore, Co Offaly have taken a look at the requirements  which are necessary to maintain such records and when its appropriate to use them.


Read more ...

Tax Incentives & Grants for Electric Cars

With a New Electric Car you can be incentivized to go a paler shade of Green and bag a Grant into the bargain.

June 11, 2019

There are a number of tax incentives available for the purchase of electric company cars introduced by the government to drive motorists towards the more fashionable cleaner and greener motoring.

 

 

 

 

 

 

 

We at, John M Shanahan & Co, Chartered Accountants, Tullamore, Co Offaly have taken a look at the requirements  which are necessary to quality.


Read more ...

Central Register of Beneficial Owners

The new Central Register of Beneficial Ownership of Companies and Industrial and Provident Societies (RBO) is aimed at improving corporate trust and transparency.

May 31, 2019

The aim of the EU Directives is to deter money laundering and terrorist financing and to help sanction those who hide their ownership or control of Irish companies/societies for the purpose of facilitating illegal activities.

This standalone Central Register of Beneficial Ownership of Companies and Industrial and Provident Societies (RBO) is a being established under anti-money laundering legislation, not company law.

Companies/societies must identify their Beneficial Owners, keep their details on their own internal register and register these details with the RBO. This is in addition to meeting their existing statutory filing obligations with the CRO under the Companies Acts in relation to directors, shareholders, etc. or in relation to other non-company legislation e.g. Industrial and Provident Societies.

 

 

 

 

 

 

 

 We at, John M Shanahan & Co, Chartered Accountants, Tullamore, Co Offaly have taken a look at the filing requirements for owner/directors which are necessary to comply with anti Money Laundering Legislation.


Read more ...

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.


Read more ...

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.


Read more ...

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. 


Read more ...

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. 


Read more ...

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. 


Read more ...

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. 


Read more ...

BUDGET 2019

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. 


Read more ...

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.


Read more ...

Share this page
on social media
Follow Shanahan
on Facebook
Follow Shanahan
on LinkedIn
Follow Shanahan
on Twitter