Another dot bubble?

Adrian Weckler wrote an interesting column in the Sunday Business Post this week “Twitter’s $10bn bubble tag”.  It reminded me of a piece I had written and not published about the value put on Facebook after a fund raising: An investment in Facebook in January valued the company at $50bn.  Investors put $500m into the…

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4 year plan – taxation measures

Income tax “Government is committed to achieving the targeted direct income tax increases over the four years” €1.875m in income tax increases over the period 2011-2014, frontloaded by 40% in 2011 Increase in income to tax equivalent to a reduction in income tax credits and rate bands by 16.5%. This may be achieved by tax…

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The future of Irish and UK financial reporting

The Financial Reporting Council issued an exposure draft in October 2010 on the future of financial reporting in the UK and Ireland (LINK). It has been known for some time that the UK and Ireland accounting standards are to be replaced by the International Financial Reporting Standard for Small and Medium Sized Entities (IFRSSME). The…

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Taxing dilemmas – the tax code explained

I wish I could take credit for this, but I can’t.  It was e-mailed to me some time ago.  I don’t know from where it originated.  There has been a lot of speculation about the forthcoming budget in Ireland, about how 50% of the workforce don’t pay any tax, and how the Government can bring more…

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Stress testing of Irish banks

On Friday (23 July) all major banks in the European Union underwent a stress test.  The test was conducted by the Committee of European Bank Supervisors (CEBS) and was designed to measure the banks’ ability to withstand a double-dip recession and sovereign debt shock. In order to pass the test a bank was required to…

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Open Coffee Cavan featured in the Anglo Celt

Stuart Meharg recently attended the inaugural Open Coffee Cavan event.  It is featured in the Anglo Celt http://bit.ly/csnbOq

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UK budget summary of measures

The UK Chancellor of the Exchequer delivered his first buget speech this afternoon.  The main points relating to business and taxation are:  The standard corporation tax rate to be reduced by 1 % each year for the next 4 years resulting in a reduction from 28% to 24%.  The small companies rate is being reduced…

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Tax simplification measures for small business

A recent survey by the Irish Taxation Institute found that the majority of small businesses in Ireland find VAT and PAYE places an unnecessary administrative burden on them.  This is not surprising given the frequency of returns – Bi-monthly for VAT and monthly for PAYE. There are some options available that could help reduce that burden:…

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Difficulties paying tax?

Failure to meet your tax filing and payment obligations can have significant negative consequences for your business.  Revenue has several enforcement measures at its disposal: the courts process; engaging the Sheriff to collect the taxes due; notices of attachment.  A judgement against your business could affect your credit rating; the Sheriff has powers to seize…

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Corporate Governance guide for unlisted entities

The European Confederation of Directors Associations has published a corporate governance guide for unlisted entities.  It can be downloaded here: http://www.ecoda.org/docs/ECODA_WEB.pdf

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