Company-returns-trading-problems

May 29, 2010

ADVICE FOR COMPANIES EXPERIENCING TRADING DIFFICULTIES
Advice from CRO…
The Companies Registration Office (CRO) is aware that some companies
are currently facing trading difficulties.  The legal obligation to file
an annual return and accounts still exists in such circumstances and
there are severe consequences if this is not complied with, including
late filing penalties, loss of audit exemption, involuntary strike-off
and possible prosecution. The late filing penalty and requirement to
file audited accounts are legally applicable notwithstanding a plea of
economic hardship and the CRO is not in a position to waive these sanctions
on that basis.

Likewise, the fact that a company is not currently trading or has never
traded does not remove the legal obligation to file prompt and accurate
annual returns and accounts with the CRO.
Read more

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manage your businesses cash flow

May 7, 2010

With thanks to the O2 Ideas Room for blog posts…

Cash flow is the lifeblood of any business and these days is even more important than ever.

Below are a number of simple approaches to use when operating your business. Read more

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Bootstrapping your way to success

February 16, 2010

With thanks to the O2 Ideas Room for blog posts…

Economic downturns tend to be self fulfilling. We all help to drive market conditions, so if we all decide to ‘batten down the hatches’, and become more risk averse we all contribute to prolonging a downturn. However though it may sound counter intuitive, an economic downturn is as good a time as any to start a new business.  This short article discusses how entrepreneurs can bootstrap their way to success, by describing what it means in practice and suggesting some benefits to bootstrapping. Read more

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How to write an effective Marketing Plan.

February 9, 2010

With thanks to the O2 Ideas Room for blog posts…

A marketing plan is a core component of a business plan. It relates specifically to the marketing of a particular product or service and it describes: Read more

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Consumers checking up on your company’s reputation

January 29, 2010

With thanks to the O2 Ideas Room for blog posts…

I wrote here a while ago about an application developed for the iPhone in the USA which allows consumers judge the responsibility level of a company’s products simply by holding the phone over that product in the supermarket. Read more

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Budget 2010 Summary

December 16, 2009

As widely anticipated, the Budget focused mainly on cutting expenditure, but also included various taxation measures. The small business owner was saved from higher taxes but really there was no assistance or incentives given.

  • No changes to income tax rates, income levy, or PRSI for 2010.
  • Universal social contribution scheme to replace PRSI, the health levy, and income levy to be introduced in 2011
  • No change to income tax bands, allowances or credits
  • Increase in effective tax rate for high earners to 30% (plus PRSI and levies) for 2010
  • Non-resident Irish nationals or Irish domiciled individuals with worldwide income in excess of €1m and Irish located capital in excess of €5m will be subject to an Irish domicile levy of €200k per annum
  • Introduction of a carbon tax at the rate of €15 per tonne
  • Reduction in rates of excise duty on beer and cider, wine and spirits. No change to rates of duty on tobacco products.
  • Introduction of car scrappage scheme for cars of ten years and older
  • Decrease in standard VAT rate from 21.5% to 21%
  • Further enhancements to the R&D tax credit regime and Intellectual Property regime may be included in the Finance Bill
  • Measures to bolster Ireland’s competitiveness as a centre for international financial services to be introduced in the Finance Bill
  • Reiteration of commitment to 12.5% corporation tax rate