7 Reasons to do your accounts online

Nov 1

Im slowly but surely moving my clients to online accounting solutions. There is a variety of reasons I will detail them below. No upgrades to worry about. I’ve lost many a morning trying to upgrade on premises software. The upgrade runs fine on one pc but not on another. Then you cant open the data […]

Keep Reading

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 […]

Keep Reading

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 […]

Keep Reading

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, […]

Keep Reading

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 […]

Keep Reading

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 […]

Keep Reading

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 […]

Keep Reading

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 […]

Keep Reading

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 […]

Keep Reading

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, […]

Keep Reading