5 Benefits Of Back-Office Accounting Outsourcing

Every business owner wants to ensure that all operations are running smoothly, including the finance and accounts operations, but in most cases there is seldom time for overseeing the accounting department.  Trying to handle day-to-day accounting operations can be time consuming if you keep it in house. Outsourcing your accounting processes can bring great benefits […]

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Audit Exemption

Audit exemption was introduced for Irish Companies initially by the Companies (Amendment) (No. 2) Act 1999 which was amended by Section 53 of the Companies (Auditing and Accounting) Act 2003 and most recently by Chapters 15 & 16 of the Companies Act 2014. Under the terms of the Act companies that meet specific criteria can […]

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Research & Development Credit Update

The R&D tax credit scheme is a vital source of finance for developing Irish SMEs. The higher volume of Revenue Audits in this area has led to an increased level of uncertainly in recent years. For businesses relying on the credit as a source of funding, any uncertainly is significant. The recently published Revenue guidelines […]

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Revenue Letter On Amendments To Returns

Taxpayers have in the past two weeks been receiving these letters and articles have appeared in the print media on the matter. These letters are generic letters and have no relevance for most taxpayers. It is a shotgun approach to notifying taxpayers that from 1st May 2017 the rules on qualifying disclosures to the Revenue […]

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Tax Deduction for the Non Principal Private Residence Charge

This was an annual charge from 2009 to 2013 in respect of residential property that was not the owner’s principal private residence. The Revenue indicated at the outset that the charge was not deductible in calculating the net profit rent on a let property as the charge was not one of the authorised deductions under […]

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5 Things You Must Know About The New Beneficial Ownership Register

The beneficial ownership regulations came into being on the 15 November 2016 and require all “relevant entities” which are Irish incorporated companies and legal entities to maintain a register of beneficial ownership interests. The directive is required to be brought into practice by 26 June 2017. The experts at Ormsby & Rhodes have put together […]

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Ormsby & Rhodes Fundraising For The Kevin Bell Repatriation Trust

We are absolutely delighted to announce that we have raised €4,911.14 for The Kevin Bell Repatriation Trust, our charity of the year. The money was raised through various fundraising efforts (Women mini marathon, Quiz Nights, Cake sales and many more). Pictured is Kate Mullahy, presenting the cheque to Conor on behalf of Ormsby and Rhodes.

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Timely Update to Ireland’s International Tax Strategy

October 2016 In the competitive Foreign Direct Investment (FDI) world and in a post BREXIT and post Apple judgement environment, it is timely that Ireland has issued this International Tax Strategy Update – see link http://www.budget.gov.ie/Budgets/2016/Documents/Update_on_Irelands_International_Tax_Strategy_pub.pdf As mentioned by the Minister in his Budget speech, Ireland’s commitment to maintain the 12.5% corporation tax rate is […]

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Budget 2017: The Key Points

This was a Budget that probably needed no introduction with the amount of details disclosed in the Media in the past few weeks. Budget 2017 had a little bit of this and a little bit of that to try to keep all happy. Property Supports Operative from 19th July 2016, first time buyers are to […]

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10% CGT Rate announced in Budget 2017

From 1 January 2016, the rate of CGT applying to a disposal by an individual of the whole or part of a qualifying business (which can include shares – minimum 5% ownership) was reduced to 20% from 33%. This rate will be further reduced to 10% following the announcement made by the Minister for Finance […]

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