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.

Travel & Subsistence - Re-visited

While Revenue may tinker with the rates, the ability to Claim tax free motor expenses may appear to become more restricted.

September 27, 2019

Revenue will say that you can pay your employees' expenses when they travel on business journeys; you can also pay subsistence if employees are working away from their normal place of work and you can repay your employees when they use their private car for business purposes, that all seems fair and expected to be paid tax free.

But then there are instance that are not as obvious to the average employee carrying out work duties on behalf of his/her employer.

 

 

 

 

 

 

 

We at, John M Shanahan & Co, Chartered Accountants, Tullamore, Co Offaly have taken a moment to outline how it may effect you and your business.


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VAT Registration .. Domestic and/or EU.

As the new Brexit Deadline looms once again, Revenue are now separating domestic and EU  VAT Registrations.

August 27, 2019

Revenue are developing a two-tier VAT registration system whereby business can apply for a ‘domestic-only’ registration or an ‘intra-EU’ registration. This change will apply only to persons applying for VAT registration after 17 June 2019.

 

A simplified registration process will be available for domestic-only applicants (businesses not undertaking any intra-EU trade). If your business registers for domestic-only purposes ( i.e. trade withing the State) and subsequently wish to engage in intra-EU trade, you may then submit an application for an intra-EU registration.

 

 

 

 

 

 

 

 

We at, John M Shanahan & Co, Chartered Accountants, Tullamore, Co Offaly have taken a moment to outline how it may effect your business.


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Social Welfare Cost of Benefits for Self Employed

Self-employed and the Welfare State....finding a middle ground.

August 26, 2019

Traditionally the self-employed didn’t get access to social welfare benefits due to their contributions rate.

However in recent months the Government announced plans to widen the net of eligibility for those who need State support when their business dries up.

 

 

 

 

 

 

So, from November, thousands of self-employed people will be able to sign up for jobseeker’s benefit of €203.00 per week should their business fail.

We at, John M Shanahan & Co, Chartered Accountants, Tullamore, Co Offaly have taken a moment to reflect on its merits.


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Tipp back on Top in 2019

Tipp win the battles on and off the field emphatically.. in a display that makes me a proud Tipp-man.

August 20, 2019

What started as a nail biting dogfight of a final turned into a masterclass in hurling as Tipperary cut loose in the second half to crush 14-man Kilkenny and win their third All-Ireland title of the decade.

As a proud Tipperary man, this hasn't happen too often in my lifetime, but when it does, it banishes the dull days of defeat into the closet and we celebrate the moment.

We at, John M Shanahan & Co, Chartered Accountants, Tullamore, Co Offaly have taken a moment to reflect.


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White Collar Crime & Fraudsters

Ten step guide to prevention of  fraud.. from petty theft to significant crime within your business.

August 10, 2019

We have seen over the years some major corporate frauds and collapses hitting the headlines from time to time and many of these were high profile and the amounts involved quite spectacular.
With the current pressures we are still facing from a slow economy, challenges associated with difficulties in renewing finance, the challenge of achieving targets, even simply paying suppliers bills and it becomes easy and opportune for the risk of fraud and petty crime for all sizes of businesses to go undetected over long periods.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

We at, John M Shanahan & Co, Chartered Accountants, Tullamore, Co Offaly have taken a look at the steps you take to make sure your business is secure.


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Hauliers Licence Exemption

Driving Commercial for a living, there are times when you do not need a Hauliers Licence.

July 31, 2019

Certain types of activity are exempt from the licensing requirement applicable to the Haulage business in general.

An operator’s licence isunnecessary if your vehicle (or combination of the vehicles to be used) has a maximum authorised weight of less than 3.5 metric tonnes.

 

 

 

 

 

 

 

 

 

We at, John M Shanahan & Co, Chartered Accountants, Tullamore, Co Offaly have taken a look at the instances which do not require a Hauliers Licence under current legislation.


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Road Haulier's Driver Responsibility

Driving for a Haulage Company, make sure you are driving within the Law.

July 22, 2019

The RSA is responsible for enforcing EU and national transport legislation on tachographs, EU driver hour rules, Road transport working time directive, those elements of the licensing of operators to engage in hire and reward operations and Drivers CPC.

 

 

 

 

 

 

We at, John M Shanahan & Co, Chartered Accountants, Tullamore, Co Offaly have taken a look at the requirements  which are necessary to stay within the Law in relation to such regulation.


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Road Haulier Drivers' Subsistence Claims

Driving for a Haulage Company, your Subsistence Claim is based on terms agreed between IRHA and Revenue.

July 19, 2019

Based upon an Agreement was reached in 1996 between Revenue and the Irish Road Haulage Association (IRHA) in respect of the conditions and guidelines covering the reimbursement of subsistence allowances free of tax by road haulier firms (employers) to road haulier drivers

 

 

 

 

 

 

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.


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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.


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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.


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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.


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