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Entrepreneur relief from Capital Gains Tax (“CGT”) was introduced to reduce the rate of CGT applicable to sales of businesses or shares in companies by entrepreneurs. The relief was part of the stimulus package introduced to encourage and reward those who take risks which benefit the economy. Entrepreneur relief, in its current guise, was introduced in Finance Act 2015 and came into effect from 1 January 2016. Previously, there was a more convoluted relief which applied to businesses sold between 2010 and 2016.
Charities with a 31 December 2017 year end must file their Annual Return with the Charities Regulatory Authority by 31 October 2018. This is a legal deadline.
A 2018 report by Indecon International Economic Consultants, commissioned by the Charities Regulator, shows that Irish Charities had income of 14.5 billion euro and 189,000 employees employed in 2017. Of this amount, the report showed that the largest source of income came from government and public bodies which accounted for more than half of this income.
BREXIT - Accounting for BREXIT.
We are working with our clients on key issues that may emerge from a Hard BREXIT. Issues to consider are:-
If you would like to be prepared for BREXIT - talk to us today by contacting our office at +353 46 9293537.
The Companies (Statutory Audits) Act 2018 was implemented on 21 September 2018. The key features are the following:-
1. No longer required to file audited Financial Statements in year in which return is filed late, the company must then file audited Financial Statements for 2 consecutive years.
2. No change to Section 343 District Court Applications for lost Audit Exemption.
3. New powers for IAASA and enforcement.
4. Its a category 2 offence for a person or firm (who is other than a statutory auditor) to act as, describe themselves as a statutory auditor and to carry out statutory audits.
Read our commentary on Budget 2019.
Our Commentary on Budget 2018.
Positions are available across both our offices for Part Qualified Accountants and Trainee Chartered Accountants.
Ireland is considered the birthplace of aircraft leasing and is recognised as the number one location globally in the sector. Over 40% of all aircraft in the world are leased and Ireland has a significant portion of the global market. We have developed expertise at Woods and Partners in the provision of advisory services to this market.
Positions are available within the practice in both our Kells and Dublin offices for audit and accounts managers, part qualified accountants