PAYE Modernisation Update – Employers and Payroll Agents

Since 1 January 2019, Revenue has received payroll information (pay and statutory deduction details) from over 153,000 employers. This includes agents submitting information on behalf of over 94,000 employers. The obligation to file details Under Regulation 10 of the Income Tax (Employments) Regulation 2018, an employee’s pay and deductions must be submitted to Revenue on […]

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Budget 2019

Budget 2019

This was certainly a Budget where spending took priority and where the spending was practically already disclosed. Housing was a major recipient of spending plans: €2.3bn allocated to the housing programme for 2019 €93m for Local Authority house funding for 2019 €1.25bn allocated for delivery of 10,000 new social homes in 2019 €123m for the Housing Assistance […]

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All You Need To Know About PAYE Modernisation

PAYE Modernisation Revenue is introducing a new PAYE regime for employers from 1 January 2019. From this date, employers will have to report payroll information to Revenue in “real-time” i.e. each time they pay their employees. This is the most significant reform of the PAYE system since its introduction in 1960. What will it involve? PAYE […]

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BUDGET 2018 – BUILDING THE REPUBLIC OF OPPORTUNITY

BUDGET 2018 – BUILDING THE REPUBLIC OF OPPORTUNITY         The Minister has tried to appease all by giving a small amount to all by means of some tax cuts/benefits and some welfare increases. TAXATION In Taxation the benefits are spread over Income Tax (“IT”), Capital Gains Tax (“CGT”), Capital Acquisitions Tax (“CAT”) […]

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Graduates 2019

Ormsby & Rhodes is currently recruiting graduates for its audit department to commence training contracts in September / October 2019.  Our audit department deals with a variety of clients covering a wide range of sectors.  During their training period trainees will also gain experience in other areas of our work such as taxation, payroll, insolvency […]

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Ormsby and Rhodes’ feature in the Sunday Business Post

Ormsby and Rhodes’ feature in the Sunday Business Post As one of Ireland’s longest established accounting firms, Ormsby & Rhodes in the heart of Dublin city has seen the not-for-profit (NFP) sector evolve to what it is today. It has advised clients in the sector, promoting astute corporate governance at all times. And as the […]

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Charities – The Story So Far

internal audit function for charities

The charities Bill became Law in 2009. Apart from some minor sections of the Act that became operative some time ago under Ministerial Order, nothing significant was activated until this year when the Minister for Justice established the Charities Regulatory Authority. It is hoped that the existence and operations of the Authority will successfully regulate […]

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COMPANIES ACT 2014 – Summary Approval Procedures

COMPANIES ACT 2014 Summary Approval Procedures One of the changes under the Companies Act 2014 is the introduction of Summary Approval Procedures which will make it easier for LTD, DAC and Companies Limited by Guarantee to enter into certain transactions which in the past were either prohibited or needed Court approval. The new procedures set […]

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Companies Act 2014 – Compliance statement & audit exemption

Directors Compliance Statements and Audit Exemption for small groups Directors Compliance Statements The directors of companies with balance sheet totals in excess of €12.5m and turnover in excess of €25m must draw up a compliance statement as part of the directors report in relation to compliance with certain company and tax law provisions.  Larger companies […]

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Companies Act 2014

Codification of Directors Duties and Responsibilities The Act codifies Directors Duties and Responsibilities for the first time which are essentially based on old common law rules. The following duties are set out in Section 228 as follows: Directors must act in good faith in the interests of the company Directors must act honestly and responsibly […]

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