Archive for April, 2013

How does the seed capital scheme work

Apr 29

The seed capital scheme allows a refund of tax already paid for an investor who sets up and takes up employment in a new qualifying business. For example: Nicola earned €400,000 over 2011 / 2012 in PAYE income and paid €144,000 income tax She sets up a business in 2013 which qualifies for the seed […]

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Professional Service Company Surcharge

Apr 29

Section 441 TCA 1997 provides for a surcharge on undistributed income of certain service companies. The section defines a service company as including close companies where the principal part of the company’s income is derived from: The carrying on directly of a profession The provision of professional services Or a company Which has or exercises […]

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How to save time when invoicing with Xero online accounts

Apr 29

One of the great things about using an online accounting package like Xero is the time you can save.  There’s still certain points in everyones business where manual data entry is required. One of these points is raising sales invoices. Use the copy function– A lot of small businesses issue the same or similar invoice […]

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Is there VAT on the plastic bag levy?

Apr 24

No. When calculating a VAT liability, retailers who account for VAT under a retailer’s scheme should simply exclude the levy from the sales / turnover figure. Retailers who do not use a retailer’s scheme should ensure that the levy is not included in the taxable amount for VAT.

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Where do I get a VAT certificate?

Apr 19

Sometimes when dealing with suppliers in the EU you will be asked to provide a VAT certificate. This is simply a certificate of taxable status which can be ordered from the revenue on the following link   http://www.revenue.ie/en/tax/vat/forms/vat66a.pdf   In the short term the vendor can verify your VAT registration details on the following link […]

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