Rules on display of company name

During company secretarial checks I often uncover confusion in relation to rules on display of company name. The CRO’s rules are listed below and there very clear on this matter:

A company is required to paint or affix its name in a conspicuous place, in legible letters, on the outside of every office or place in which its business is carried on. A company is further required to have its name mentioned in legible characters in all business letters of the company and in all cheques, invoices and receipts of the company. A fine may be imposed on the company and on any officer in default for breach of the foregoing. If an officer of a company issues or authorises the issue of any business letter of the company or signs a cheque or order for goods, and the name of the company is not mentioned in legible characters, that officer is liable to be fined and will also be personally liable unless the amount due on foot of the cheque or order for goods is paid by the company.

Theo Paphitis book – Enter the dragon

I started into Enter the Dragon
on a short flight to London a few weeks ago. Unfortunately I left the book behind me in the seat pocket. The fact that I was so annoyed I’d lost it and bought another copy straight away is a compliment its self for this book.

Watching Dragons Den I like Theo’s attitude and manners. He’s certainly not as rude as some of the other dragons and seems quite chilled out. This shows through in the book. He appears honest and tells his rags to riches tale with sincerity.

The book is not written as a ‘how to’ guide for entrepreneurs but its certainly good reading for the entrepreneurs among us. Theo’s passion for business and genuine excitement shines through. You can buy the book here

Motor Tax rates CO2

Tax Band Annual Half Year Quarter Year Arrears (Per Month)
0 – 120 104 57 29 10.40
121 – 140 156 86 44 15.60
141 – 155 302 167 85 30.20
156 – 170 447 248 126 44.70
171 – 190 630 349 177 63.00
191 – 225 1050 582 296 105.00
226 – 999 2100 1165 593 210.00


Business Book – Alan Sugar What You See Is What You Get

I was looking forward to getting the time to read this book. Alan started his business from scratch and has a no bullshit approach to business. In certain areas I was a little disappointed. Alan refers to certain  kids from his childhood as ‘pricks’ given that he’s 63 years of age its a long time to carry that resentment.

The story of his early business career is inspiring just like that of James Caan and Theo Paphitis Alan had the enviable ability to see a business opportunity where most people saw junk. The book is written in a light easy going manner and I was compelled to finish quite quickly.

The Taoist farmer – Finding the hidden opportunities in life

The Taoist farmer lived in a remote village in the furthermost corner of China. He was not a wealthy man, but he was content with his life, and farmed a small plot of land with his son and wife. One day, a wild horse galloped on to his land, jumped the fence and began grazing in the farmer’s field. According to the provincial law, the horse now rightfully belonged to the farmer and his family. The farmer’s son could hardly contain his excitement, but the farmer put his hand on the son’s shoulder and said, “Don’t be quick to judge! Who knows what’s good or bad?”

The following day, the horse broke out of the field and galloped away. The farmer’s son was heartbroken. “Don’t be quick to judge,” said the father. “Who knows what is good or bad?”

On the third day, the horse returned with four mares. The farmer’s son could hardly believe their good fortune. “We’re rich!” he shouted, but again his father said to him, “ Don’t be quick to judge. Who knows what is good or bad?”

The following week, while riding the horses, the boy fell and broke his leg. The farmer ran to get the doctor: within a short time, both the farmer and the doctor were tending to the boy, who was moaning and complaining about his miserable fate. The farmer wiped his son’s forehead with a cool, damp cloth, looked deeply into his eyes ad reassured him once again, My son, do not be too quick to judge. Who knows what is good or bad?”

The following week, war broke out in the province, and army recruiters came through the village and conscripted all of the eligible young men – all except for one young man who was unable to fight due to a broken leg!

This parable was taken from The Flipside: Finding the Hidden Opportunities in Life

Non Principal Private Residence (NPPR) Charge

It has come to my attention that the Revenue Commissioners are taking the view that this €200 charge is not deductible in calculating tax on any rental income from the property.

Double taxation?

Design your own invoices with Xero

Design your own invoices

Phew.todays release is one of the biggest weve done and has some of your most requested features. Santas come early!

Theres quite a bit to take in as youll see, but lets start with customizing your invoices. You may remember in June we introduced invoice branding to let you personalize your invoices and statements with different themes. Now weve added a new type of theme that lets you take complete control of the layout by uploading your own Microsoft Word templates. You can do things like add a packing slip to your invoice, write in any language and add style with color and images. Watch this video to see the magic.

Other features youll love:

Bulk Emailing statements or invoices This makes chasing up overdue invoices and sending regular statements even easier.

Detailed Account Transaction Report Select any period and review all your transactions in one place. Double check everything is correct before closing off a period or preparing reports.

Edit Reconciled Spend/Receive Money Transactions A handy companion to the Detailed Account Transaction Report. If you come across a mistake you can now easily edit to correct them without have to first unreconcile

Edit Manual Journals Flexibility to fully edit manual journals with a complete audit trail to track your changes.

US Date Entry US date formats are now accepted, just select United States as the country on your profile and you can enter dates in the right format.

API Updates You can now return manual journals, set the branding theme on submitted invoices and allow custom URLs to be attached to invoices. Check out our latestdeveloper update for more details.

UK VAT Rate Change Weve got this covered for 4 January 2011.

NZ Differential Annual Reporting helping accountants to produce annual reports for clients qualifying for differential reporting. Next step is to release similar functionality for Australia and the UK.

Its been another huge year and weve got lots of exciting things planned for 2011.

To find out more about this release, see ourreleasenotes.

Sam Knowles joins Xero Board

Sam Knowles joins Xero Board

Were delighted to have Sam Knowles, the founding CEO of KiwiBank, join the Board of Xero.

Sam has supported us from the early days, being a shareholder from our IPO and catching up with us from time to time to share ideas.

Sam replaces our very good friend Guy Haddleton, whose new business Anaplan is taking off in the US. We thank Guy for his contribution over the past four years.

Sam Knowles accepts Xero directorship

LIQUIDATIONS, RECEIVERSHIPS, EXAMINERSHIPS SUBMISSIONS PROCESSED BY CRO BETWEEN 10-DEC-2010 AND 16-DEC-2010

EXIDE BATTERIES (IRELAND) LIMITED

DEERPARK LIMITED
GRAMAC IRISH SPRINKLERS LIMITED
SHOE TREE LIMITED
MONUCLAD LIMITED
PIERSE CONTRACTING
TEHMAR LIMITED
OLIVE GROVE ESTATES LIMITED
ANGELA O’CONNOR LIMITED
TRAX LIMITED
DITTO LIMITED
KINLOUGH DEVELOPMENTS LIMITED
WORLD MERCY FUND (IRELAND) LIMITED
MILDALE DEVELOPMENTS LIMITED
MILO HENRY & SONS LIMITED
MOTORSCENE LIMITED
COUNTISE COMPANY LIMITED
RIGEL LIMITED
TH REINSURANCE (DUBLIN) LIMITED
DEEGAN FINANCIAL SERVICES LIMITED
HOME FROM HOME HOLIDAYS LIMITED
ELECTRIUM (IRELAND) LIMITED
BIZLINK INTERNATIONAL LIMITED
TREASUREYOURPICS LIMITED
KIRWAN’S FOODSTORE LIMITED
D.M.L. CONSTRUCTION LIMITED
PATRICK O’REILLY SECURITY LIMITED
CARE EUROPE LIMITED
ABELCOTE LIMITED
INTERNATIONAL SECURITISATION MANAGERS (IRELAND) LIMITED
NATIONAL AUSTRALIA BANK FINANCE IRELAND LIMITED
DAVID & TIMOTHY CROWE LIMITED
GLOBAL HERB SUPPLIES (IRL) LIMITED
ART DEPOT LIMITED
OFFALY PLANT AND MACHINERY LIMITED
DARNELL INVESTMENTS LIMITED
LEEWAY 20/20 LIMITED
CUSACK MECHANICAL SERVICES LIMITED
GORMAN & DONNELLY LIMITED
F.I.M. SYSTEMS LIMITED
ICE TECH LIMITED
AHP FINANCE IRELAND LIMITED
LUCENT TECHNOLOGIES INTERNATIONAL SALES LIMITED
O’CONNOR MANGAN CONSTRUCTION LIMITED
NEIL KENNEALY TRANSPORT LIMITED
BARRICK LEASING CORPORATION
STAR RETAIL PLACEMENT LIMITED
T. O’GORMAN PROTECTIVE CLOTHING & SAFETY LIMITED
WELL FRONT CONSTRUCTION LIMITED
MILLCROFT CONSTRUCTION LIMITED
LYNDONBARRY DEVELOPMENTS LIMITED
BROOKLANDS CONSTRUCTION LIMITED
CELCON SERVICES LIMITED
SOUTH EAST SURVEYS LIMITED
STONEGATE CONSTRUCTION LIMITED
Q.E.D. RECRUITMENT SPECIALISTS LIMITED
MIRO INTERIORS LIMITED
CANWEST INTERNATIONAL DISTRIBUTION LIMITED
CANWEST INTERNATIONAL DISTRIBUTION LIMITED
AUTOMATIC OPENING SYSTEMS LIMITED
OB HIRE & SALES LIMITED
CAPRICORN CESSATION IRELAND LIMITED
SOLO OPTICS LIMITED
OPTICAL METROLOGY HOLDINGS LIMITED
FIRST BEACON IRELAND LIMITED
FLAC FIRE PREVENTION LIMITED
PARTSLINE LIMITED
OPTICAL METROLOGY NOMINEES LIMITED
MUNSTER TILES LIMITED
KIPLINK LIMITED
CILAG INTERNATIONAL LIMITED
BUSHYPARK BAR & RESTAURANT LIMITED
AMPAT LIMITED
AQUA FINANCE NO.2 PUBLIC LIMITED COMPANY
GHC LIMITED
ALTERNATIVE ROOFING LIMITED
GLENFORD CONSTRUCTION (KILCOCK) LIMITED
THE LANGUEDOC WINE COMPANY LIMITED
HENNESSY’S GARDEN CENTRE WEXFORD LIMITED
CANWEST IRELAND NOMINEE LIMITED
CANWEST MEDIAWORKS IRELAND HOLDINGS
CLOONRUE LIMITED
SOLSTICE COMMUNICATIONS LIMITED
IN-VIZ LIMITED
JULIANSTOWN MOTOR CENTRE LIMITED
MILTONFIELD DEVELOPMENTS LIMITED
HYBRID OFFICE INTERIORS LIMITED
QUIRKE RESIDENTIAL LIMITED
RHONAVILLE SECURITY LIMITED
IRISH CAMPER VANS LIMITED
KW PROTEIN TECHNOLOGIES LIMITED
THREE CORNER HOLDINGS LIMITED
CHEQUER HILL INVESTMENTS LIMITED
BCI AIRCRAFT LEASING IRELAND B, LIMITED
COLGAN PLUMBING AND HEATING LIMITED
OSOL DEVELOPMENTS LIMITED
OAKTREE EUROPEAN CREDIT OPPORTUNITIES
PUBLIC LIMITED COMPANY
CELTIS CONSTRUCTION LIMITED
FAIRLIGHT SERVICES LIMITED
PRINTRIDGE LIMITED
GLOBAL IT NETWORKS LIMITED
BCI AIRCRAFT LEASING IRELAND D, LIMITED
NASH POINT II CLO
BCI IRL MSN 127-2006 LIMITED
SANZAC LIMITED
ALLIED DEVELOPMENTS LIMITED
BANTRY BAY CDO I PUBLIC LIMITED COMPANY
POLLUS (IRELAND) LIMITED
MERVCO MEDIA LIMITED
LINEN HIRE & LAUNDRY SERVICES LIMITED
THE LANGUAGE CENTRE OF IRELAND (L.C.I.) LIMITED
L & G FREIGHTCARE LIMITED
JERRY CRONIN DEVELOPMENTS LIMITED
DUBLIN NORTH TRAINING LIMITED
DECSHEIL LIMITED
JD HENRY’S LIMITED
AVANTI CRM PROJECT MANAGEMENT LIMITED
IMPACTGARANT RE LIMITED
RPH PROPERTY LIMITED
CARLYLE GLOBAL MASTER CREDIT FUNDS PUBLIC LIMITED COMPANY
CARLYLE US CREDIT FUND LIMITED
FARMHOUSE FARE LIMITED
VEVILA LIMITED

Blind persons tax credit reduction – Whats the point?

I was reading through some of my notes on budget 2011 today. (Exciting way to spend a Saturday afternoon!) and I noticed the Blind persons tax credit has been reduced from €1830 to €1650. I began to wonder how much revenue this move would generate for the exchequer and what was the point in changing it?

Firstly I found out here at VISPA that there is 14,000 blind people based in Ireland. The only survey I could find in relation to employment among blind people didn’t cover Ireland, but did cover the UK. In the UK 25% of blind people are in employment. I am going to presume the figure is the same in Ireland.

That means out of our 14,000 blind people just 3,500 would be employed.

Presently in Ireland 50% of workers are outside the tax net. Thats set to change next year so i’m going to assume that 40% of those 3,500 blind people working are in either low paid or part time jobs and outside of the tax net.

That now leaves me with 2100 employed and paying tax. The blind tax credit reduced from €1830 to €1650 thats a reduction of €180 per individual. €180 times the 2100 employed individuals is a net effect to the exchequer of  €378,000 per annum.

Given the massive rates of unemployment in the blind community  in Europe (Im assuming Ireland is the same  based on this study here) I believe this change is foolhardy in the extreme. One tiny change to the travel or expenses policy in FAS or a similar quango could net the same revenue to the exchequer.

Tax is a tool to effect social policy for example the plastic bag levy drastically reduced our use of plastic bags – A good thing. Now we have a tax change which is taxing a group in society whom we should be encouraging back into the work place.