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  • Small Business Recovery Plan

    Small Business Recovery Plan See link below to the small business recovery plan. This initiative is chaired by John Moran, former secretary general of the Department of Finance and is a platform for developing a national recovery plan for the small business sector. The plan focuses on the key policy interventions that are required to stabilise and recapitalise the small business sector so that employment and economic activity can be restored. A lot of the thinking behind this plan is based on the principal of getting the flow of money back into the economy. Austerity and raising taxes has the opposite effect.

  • Update from Revenue re tax liabilities

    Update from Revenue re tax liabilities Revenue plan to ‘warehouse’ businesses’ VAT and Payroll tax liabilities. The measure is to apply to businesses in sectors of the economy who have been negatively impacted by COVID-19. This is part of the range of economic measures announced by the Minister for Finance recently. See link below for further details. See here to learn more. There is no legislation yet and the detail will be important. We just have to look at the announcement of the Temporary Wage Subsidy Scheme before legislation and the confusion it caused. This isn’t meant in any way as a slight ...

  • 16 Teachings from Covid-19

    16 Teachings from Covid-19 Appreciate it is a difficult and worrying time for people but there is potential good in all challenges. The article below goes through 16 possible teachings from what we are all experiencing. It is an interesting and thought-provoking way to look at the current situation. Please see link to full article 

  • Update on Temporary Wage Subsidy Scheme

    See link below updates to the Temporary Wage Subsidy Scheme(TWSS). Previously any employees rehired are eligible for the scheme. Please note that employees who are rehired after the 1st May might not be eligible for the Temporary Wage Subsidy Scheme. On Monday 4th May the (TWSS) will switch over from what is called the "Temporary Phase" to the "Operational Phase". One of the key differences between the temporary and operational phases is that on the 4th of May Revenue are going to provide each employer with a list of employees who are eligible to receive a subsidy payment. This list is going to ...

  • e-Working and home workers

    e-Working and home workers eWorking is where your employee works: at home on a full or part-time basis part of the time at home and the remainder in the normal place of work while on the move, with visits to the normal place of work. eWorking involves: working for substantial periods outside the normal place of work logging onto a work computer remotely sending and receiving email, data or files remotely developing ideas, products and services remotely. See link below to e-working and working from home allowances that can be paid to employees and also equipment that can be provided Click ...

  • General Information re Covid19

    Finance Options The Credit Guarantee Scheme supports loans up to €1 million for periods of up to 7 years. Applications can be made to AIB, Bank of Ireland and Ulster Bank. Eligibility criteria apply. Credit Guarantee Scheme for COVID-19 FAQs Microenterprises can access COVID-19 loans of up to €50,000 from MicroFinance Ireland. Loans are available at an interest rate of between 6.8% and 7.8%. Businesses can apply through their Local Enterprise Office or directly at microfinanceireland.ie. Eligibility criteria apply. Microfinance Ireland COVID-19 Business Loan FAQs The €200m SBCI COVID-19 Working Capital Scheme for eligible businesses will be ...

  • Budget 2020

    Don't blame it on the sunshine Don't blame it on the moonlight Don't blame it on good times Blame it on Brexit With the 31 October Brexit deadline just over three weeks away, Budget 2020 has been dubbed the “Brexit Budget”. With the prospect of a no-deal, the Minister has announced a contingency package of €1.2 billion (excluding EU funding) to respond to the challenges Brexit presents. There have been no significant giveaways because of the B word. So Brexit seems to be blame for everything. In fact I heard a story recently about a young boy who blamed Brexit for ...

  • Brexit

    Appreciate everyone is worn out with Brexit and its domination of our airwaves. There are two areas below that may provide helpful information from a Revenue and bank loan/grant aid perspective. We would have looked at these previously so just sending his as a refresher EORI Number. If you import or export from the UK or plan to then you should apply for an EORI number You can register for an EORI number on Revenue’s EORI online registration service through My Account or ROS See below a link to resources that may be of assistance including loan and grant schemes. There are ...

  • Tax fee protection insurance Ireland

    In the past, we were able to obtain a practice policy which provided cover for clients at cost-effective rates. Unfortunately, the overall issues with the insurance industry seem to be affecting this area too. There were only ever two providers and one has pulled out of the jurisdiction. The cost of a blanket policy is now working out at an average premium of €4,000 per business per annum. This makes no sense and we wouldn’t be recommending this to clients. Other options However, this type of insurance may be something that comes as standard with your office insurance/ business insurance or as a ...

  • Get the Eye of the Tiger

    I am of the Rocky generation. I must have watched those movies 100 times when I was young. It all came back to me when I watched the 2006 Rocky Balboa movie recently. It's the one where Rocky comes out of retirement to have one last crack at it even though he is something like 60 years old. It’s a bit corny yes, however, this movie has one of my favorite quotes ever in it... “It ain't about how hard ya hit. It's about how hard you can get hit and keep moving forward. How much you can take and keep moving forward. That's how ...

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