Services

Audit

All audit teams are part­ner led. Our audit expe­ri­ence across many busi­nesses enables us to pro­vide com­pre­hen­sive and cost effec­tive ser­vices. Our audit staff receive reg­u­lar train­ing to ensure their knowl­edge is both com­pre­hen­sive and cur­rent, enabling them to pro­vide you with a first class ser­vice at all times. Pauric Trautt, audit partner.

Range of Audits

Our Audit approach is both progressive and standards-driven. Audit are conducted using robust audit methodologies, the appropriate use of technology and a wide range of compliance tools. All audits are partner-led, underpinned by their sound judgment, objectivity and years of experience. All of our staff have access to exceptional industry training and technical skill-building.

  • Statu­tory Audit

  • Spe­cial­ist Reg­u­lated Audits

  • Inter­nal Audits

  • Vol­un­tary Audit

  • Sys­tems Audit

  • Prac­tice Audit

Preparation of Accounts

Our staff of both qualified and part-qualified accountants have a wide range of relevant skills and experience, working in both industry and practice. They are fully cognisant of Irish and international Generally Accepted Accounting Practice, and the current International Financial Reporting Standards. Leveraging our professional network we have access to specialist advice pertaining to all jurisdictions.

  • Group Accounts

  • Com­pany Accounts

  • Man­age­ment Accounts

  • Farm Accounts

  • Part­ner­ship Accounts

  • Sole Trader Accounts

Tax

As a founding member of the Irish Tax Institute and a practicing tax professional for thirty-five years, I'm confident - whatever the tax scenario - that I will be able to provide insight and relevant advice... Padraic Cahill, tax partner.

VAT

Value-Added Tax is one of the best known of all taxes partly because most EU cit­i­zens pay it almost on a daily basis, some­times being made aware of their pay­ments on invoices and receipts and some­times, such as in bars and restau­rants in the Repub­lic of Ire­land, not being reminded of it at all. Reg­is­tra­tion for VAT is oblig­a­tory for per­sons sup­ply­ing ser­vices to the value of €37,500 or more per annum or €75,000 per annum in the case of goods.

PRSI Rates and Levies

Pay Related Social Insur­ance is widely viewed as a tax but it is also the method of social insur­ance which gives rise to enti­tle­ment to con­trib­u­tory pen­sions and other ben­e­fits. Where Income Tax is paid under the Pay As You Earn sys­tem oper­ated by employ­ers, the employee share of the Pay Related Social Insur­ance is deducted together with the employee Uni­ver­sal Social Charge and these, together with the Employer Con­tri­bu­tions, are paid over to the Rev­enue Com­mis­sion­ers as part of the pay­roll sys­tem. We oper­ate pay­roll sys­tems for some of our clients which large com­pa­nies nor­mally oper­ate themselves.

Per­sonal Taxes

The best known of the per­sonal taxes is Income Tax which oper­ates on the basis of the cal­en­dar year as the year of assess­ment. Indi­vid­u­als must file a Return of Income for each tax year not later than Octo­ber 31st in the year fol­low­ing the tax year. There are con­ces­sions for those who file online. If a Return for any year of assess­ment is not sub­mit­ted or sub­mit­ted late, the tax lia­bil­ity for that year is sub­jected to a Sur­charge.

Cor­po­rate Taxes

All com­pa­nies res­i­dent in the Repub­lic of Ire­land and all non-resident com­pa­nies car­ry­ing on busi­ness in the Repub­lic of Ire­land through a branch or through an agency tend to be auto­mat­i­cally liable to Cor­po­ra­tion Tax. The best known of the Cor­po­ra­tion Tax Rates is 12.5% applic­a­ble to busi­ness prof­its but there are also the 10% rate applic­a­ble to man­u­fac­tur­ing com­pa­nies and cer­tain IFSC and Shan­non Air­port zone com­pa­nies and the 25% rate payable on non-business income such as inter­est and div­i­dends.

Cap­i­tal Taxes

The best known Cap­i­tal Taxes are Cap­i­tal Acqui­si­tions Tax and Cap­i­tal Gains Tax. Cap­i­tal Acqui­si­tions Tax applies to gifts and inher­i­tances above cer­tain class thresh­olds. The high­est thresh­old applies where the ben­e­fi­ciary of the gift or inher­i­tance is a child of the disponer. There is a smaller thresh­old for a lin­eal ances­tor or descen­dant, and the small­est thresh­old applies where the ben­e­fi­ciary is not enti­tled to either of these two. Cap­i­tal Gains Tax is payable on gains which arise on the dis­posal of assets, and it needs care­ful atten­tion because a dis­posal may occur even if no cap­i­tal sum is derived from the dis­posal, typ­i­cally a dis­posal by means of a gift or on exchange.

Other Services

Insolvency Advice

Com­pa­nies or indi­vid­u­als expe­ri­enc­ing cash flow dif­fi­cul­ties and short­age of work­ing cap­i­tal are wel­come to con­tact us to dis­cuss their options and their legal oblig­a­tions.

The law does not allow an Audi­tor to be Liquidator of the same com­pany but even in cases where we might be pre­cluded from act­ing as Liq­uida­tors we can utilise the good work­ing rela­tions we have with other Accoun­tants who under­take the work of act­ing as a Tax Plan­ner, Exam­iner, Liq­uida­tor or Receiver.

Foren­sic Accounting

Assess­ing the com­mer­cial or finan­cial impli­ca­tions of legal dis­putes is imper­a­tive to ensure that finan­cial set­tle­ments encom­pass every aspect of your case. The ram­i­fi­ca­tions attached to this assess­ment are huge and get­ting it wrong can have long-term reper­cus­sions.

We pro­vide act­ing assis­tance in cases of sus­pected or actual fraud, author­i­ta­tive quan­tifi­ca­tion of dam­ages and act­ing as expert wit­nesses capa­ble of mak­ing a deci­sive con­tri­bu­tion to your case.

Tax Plan­ning

We pride our­selves on pro­vid­ing timely and rel­e­vant advice in all areas of income tax, and we have a wealth of expe­ri­ence of both the Irish and UK tax sys­tems.

Our income tax plan­ning ser­vice includes:

  • Advice on effi­cient pen­sion and retire­ment planning
  • Enhanc­ing share­holder and indi­vid­ual wealth
  • Tax effi­cient remuneration
  • Advice on tax-based invest­ments such as the Busi­ness Expan­sion Scheme (BES)
  • Ensur­ing con­tin­u­ing com­pli­ance with the tax authorities

Pro­fes­sional tax plan­ning is an impor­tant part of the man­age­ment of your own per­sonal income and per­sonal finances, whether you are self employed, a com­pany direc­tor or pay taxes through the PAYE system.

Invest­ment

Aris­ing from our asso­ci­a­tion with mem­ber firms within our net­work group, we can refer clients to Gold Seal Finan­cial Ser­vices Ltd. This firm will pro­vide our clients with fair and bal­anced invest­ment advice over a range of prod­ucts.

You can also avail of our Free Finan­cial Health Check ser­vice whereby a Qual­i­fied Finan­cial Advi­sor will review all your past invest­ment choices and make rec­om­men­da­tions for the future.