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.
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Discovering Hidden Value

February 7, 2010

With thanks to the O2 Ideas Room for blog posts…

“What we must decide is perhaps how we are valuable, rather than how valuable we are.”  (Edgar Z Friedenberg)

It may take a moment to digest the full wisdom of this brilliant distinction.

However, for businesses in the future, it’s not going to be a case of what is the cost; but more about the value we bring.

Do you ever find that your customers (or employers) are reluctant to talk about the value you bring?  Or would bring… if only they gave you the assignment or the job?

This reluctance is often very real. At other times, however, it is also a reflection of our own reluctance to probe, and thus discover how exactly we are valuable. Who knows what enormous gems lie undiscovered beneath this reluctance?

If we are serious about harnessing the untapped power of undiscovered value, we must equally be honest about the resistance we encounter. We have a natural distaste for those who constantly seek reassurance that they are of value. Those who constantly ask for feedback on their performance may well betray an underlying self-obsession that at best we indulge, at worst we resent.

They are making the mistake of pursuing the question of “how valuable they are“. Let’s be honest, most of us are tired of “rate our performance” questions.

By contrast, take a look at these questions, assembled to discover how we might be of value, rather than how valuable we are:

1.    (at the start of an interview)  “What was it about my CV that prompted you to meet with me?”

2.    (meeting a new client for the first time) “Of these four subjects, which would be most valuable for you to explore today?”

3.    (at the end of any meeting)  “What are you taking from this discussion?”

4.    (in a project review)  “Of all the areas we have worked on – brief recap – which for you had the most value?”

5.    (personally / socially)  “What have you most enjoyed about this evening?”

Questions like these uncover how exactly we are of value, rather than how valuable we are. Value is the ideal basis of effective negotiation, genuine customer-service development, fruitful employee appraisal and lasting business development.

Paul Davis
Davis Business Consultants
paul@davisbusinessconsultants.com

Ideas Room

Spring Clean

October 17, 2009

Cheer yourself up! One Easy low cost solution
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Tax on second homes

June 25, 2009

€200 PROPERTY TAX ON INVESTMENT PROPERTY AND HOLIDAY HOMES TO COME INTO FORCE
Yesterday Environment Minister John Gormley outlined the tax in the Local Government Charges Bill 2009, which will become law at the end of next month. Announced last October, it is expected to give local authorities up to €40m per year in additional funding. Owners of residential rental properties, holiday homes and vacant residential properties-apart from those newly constructed and unsold-will be liable to pay the charge.

Those who fail to pay face hefty fines of €20 per month-but the amount is rolled-up, meaning that the bills soar over time. For example, a person who fails to pay the tax for one year will owe €200 for the levy, plus €240 in fines giving a total of €440. Taxes and fines left unpaid will accumulate annually.
Last night the Department of the Environment said that the fines system was introduced as a deterrent for people who might try to avoid the charge.

Local authorities will be examining electricity bills to make sure owners of holiday homes pay the €200 ’second home’ tax announced yesterday. New powers mean county councils will be given access to utility bills to see if power is turned off during the winter months-suggesting that the homes are only used as summer residences. And they will also be examining the voter register and land registry records to see how many people owe the tax.

Updated Income Tax Levy

April 7, 2009

Income Tax Changes

Tuesday, April 07, 2009

The income levy rates have doubled and the exemption threshold on which the income levy will apply will be reduced from €18,304 to €15,028.

Income Levies

The income levy rates have doubled and the exemption threshold on which the income levy will apply will be reduced from €18,304 to €15,028. This means that taxpayers with gross income over €15,028 will face the following income levies rates:
2% up to €75,036
4% from €75,037 to €174,980
6% on income over €174,980
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