Archive for October, 2010

High Court has 'serious concerns' about survival scheme for Aer Arann

Oct 31

A HIGH Court judge has expressed “serious and significant concerns” about a proposed survival scheme for Aer Arann and has adjourned to next week the company’s bid to secure the court’s approval of the scheme necessary to exit examinership. The Revenue Commissioners have objected to the scheme, alleging they are being treated unfairly as they […]

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Preliminary tax in the first year of trading

Oct 29

This is a common question from entrepreneurs starting their own business and worried about tax. The notes below are taken from the revenues statement of practice. There is a special provision for the year of assessment in which taxpayers commence to be chargeable persons. Basically, this is that, in applying the 100 % rule, the tax payable for the preceding year can be […]

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What expenses can I claim for (Sole Trader / Partnership)

Oct 28

What expenses can I claim for? You can claim for any business expense, which you have incurred in order to earn your profits. These expenses are normally referred to as revenue expenditure. Revenue expenditure is your day to day running costs and covers such items as:  Purchase of goods for re-sale, Wages, rent, rates, […]

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Thesaurus Payroll Software

Oct 28

We are fast approaching the end of the payroll tax year where the ugly P35 will raise its evil head again. Women look forward to February 14th for all the romantic trappings; men and women who are employers dread that date because of what comes next. In case you didn’t know February 15th is P35 […]

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KPMG to be investigated by AADB over BAE Systems audits

Oct 27

By Rhys Jones and Mohammed Abbas LONDON, Oct 26 (Reuters) – KPMG [KPMG.UL], one of the world’s biggest accountancy groups, is being investigated by UK regulators over its audits of BAE Systems (BAES.L) relating to commissions paid by the defence firm to secure contracts. Audits covering the 10 years between 1997 and 2007 will be […]

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Kashflow iPhone App

Oct 26

Today on his twitter stream Kashflow founder Duane Jackson made this announcement Being the geeky accountant I am I was quite excited to see this. Xero’s policy seems to be to stay away from working with a particular operating system they just use a mobile website which causes problems due to the iPhones not supporting […]

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PayPal co-founder Peter Thiel to invest $4 million in Xero online accounting software

Oct 26

PayPal cofounder Peter Thiel is to invest around $4 million in New Zealand online accounting software provider Xero to enable the Kiwi firm expand into the United States. The San Francisco based technology entrepreneur and investor will be injecting the amount in aide of the Kiwi firm’s planed foray into the US market. Peter Thiel […]

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Single Business Number

Oct 25

In our home market of New Zealand we’ve been dialing up the awareness of a Single Business Number (SBN). An SBN is a public unique identifier for each small business. Single ID number for firms Australia already has a Single Business Number (called the Australian Business Number – ABN) as does Canada, the US (Employer […]

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Peter Thiel to Invest in Xero

Oct 21

Part of our US strategy is to work with the best people in the Industry.  Over the last few months we’ve had the opportunity to connect with some of our heroes – a group of people that we believe are the global leaders in Internet. We’re really proud that they are enthusiastic about our business, […]

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UK Bank Feeds – a new way of working

Oct 19

Henry Ford, the pioneer of what we recognise today as Lean Manufacturing, introduced a revolution centred around the elimination of wasteful processes more than a century ago. In his autobiography he explained the essence of it as: “I believe that the average farmer puts to a really useful purpose only about 5% of the energy […]

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