Ireland’s craft and microbreweries sector is growing. According to a recent report, the number of production microbreweries increased from 15 in 2012 to 62 in 2016 and the sector had an estimated turnover of €59 million last year.
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If you’ve ever watched Dragon’s Den, you’ll be familiar with the concept of private individuals investing in start-up businesses in return for an equity stake in the business. Investors like this are sometimes called business angels. Typically, they are successful people who get a thrill from business and enjoy supporting entrepreneurs. Often, as well as providing capital, they help the startup in other ways, for example by mentoring the owner/manager and/or taking a seat on the board.
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Earlier this year, in a widely-reported interview with Quartz, Microsoft founder Bill Gates suggested robots should pay tax. Gates pointed out that when a human worker earns $50,000, that income is taxed. So, if a robot does the same thing, why not tax the robot?
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The Knowledge Development Box is a tax incentive to encourage innovation in Ireland. Companies who qualify can avail of an effective 6.25 percent corporation tax rate (instead 12.5 percent) on profits arising from certain intellectual property assets.
Ireland provides tax and non-tax incentives for businesses engaged in innovation and/or research and development.
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Successful entrepreneurs often ask how they can continue to grow their business.
A useful approach is to begin by looking at your objectives, finance and business resources.
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The duties of a secretary are duties delegated to the position by the directors. There is no definitive term covering what this will entail. Directors must ensure person is capable of doing the job.
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The principal fiduciary responsibilities of a director are set out in Part 5 of the Companies Act 2014.
There is a requirement on a director to act in good faith, to act honestly and responsibly and to act according to the company’s constitution. There is a requirement for the directors to have regard to the interests of the company’s employees as well as to the interest of the members.
Letting out a room in your home is a convenient way to boost income but the tax implications of Airbnb hosting must be carefully considered.
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Recently we are seeing more examples of PAYE taxpayers with various types of non-PAYE income. Irrespective of the source, if you earn income outside of the PAYE system, you must declare it to Revenue and pay the appropriate taxes.
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Starting a business in Ireland may be an option for some UK entrepreneurs post-Brexit. Deciding to relocate your business is an important strategic decision and there are many factors to consider depending on your specific circumstances. These include family requirements such as accommodation, schools and so on. That said, there are many advantages to locating in Ireland.
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Currently, there’s a lot of discussion about the need for Irish bloggers and influencers to disclose commercial relationships so as to comply with consumer law. Equally important, although it hasn’t had the same media attention, is the need to comply with tax requirements
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The term 'RECEIVERSHIP', in relation to a company's status, is being retired from CRO use on the 22nd of March 2017.
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Setting up a company is one of the most important decisions you can make. On par with taking out a mortgage, the financial implications can be felt for years to come, in many cases for the better and in some instances for worse. So how can you be sure that it is the right move for your business? This is a question that early stage entrepreneurs often ask.
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Preliminary Tax is an estimate of the amount of Income Tax you owe for the current tax year. Many people don’t realise why they have to pay preliminary tax so we'll try and explain as follows:
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You can still avail of the extended deadline on the 10th November but bear in mind that this is the Pay and File deadline so the return and full payment must be made by November 10th or a surcharge will apply.
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If you are making business purchases on Amazon, make sure you enter the VAT number of your business on your amazon account. This means that UK and EU suppliers will not charge VAT to Irish customers reducing the overall purchase price.
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Although much of the detail on the HTB incentive has yet to be announced. The top 5 requirements that we know so far are:
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If you make business purchases from stores like B&Q, Argos or Tesco for example – you’ll notice that the VAT number is often on the back of the till receipt.
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