- 23 August 2012
Tax Advice
Tax Advice
Tax avoidance is legal whereas tax evasion is most definitely illegal and frowned upon. Tax avoidance is the legal utilisation of the tax regime to one's own advantage, to reduce the amount of tax that is payable by means that are within the law.
Here's what you can get from The Synergy Group.
- 23 August 2012
Raising Finance
Raising Finance
Most businesses need extra funding at times. The important thing is to know whether additional finance is needed because the business is expanding and requires more resources, or because things are going badly and the operation is running out of money.
The credit crisis and recession have made getting finance tougher for micro and small businesses, but that does not mean that raising money is impossible.
Banks, investors and business angels are always open to the suggestion of backing well run businesses with a strong sense of direction and good management team.
- 14 August 2012
Bookkeeping and Wages
Bookkeeping and Wages
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All businesses are required to keep accurate records for both taxation and VAT (Value Added Tax) purposes. There are four useful by-products of bookkeeping:
- The information can be used to control the finances of your business, analyse and interpret the results so you can prepare and adjust your plans.
- The accounts that need to be produced in order to calculate your tax situation can be completed in a more efficient way, thus saving on your accountancy and/or audit charges.
- It gives you more time to run your business efficiently.
- Banks and lenders normally want to see accounts.
- 23 August 2012
Grants
Grants
Start-up and established companies can receive grants here in Ireland, but they are difficult to obtain and you have to jump through a lot of hoops. Some examples of grants include
- 14 August 2012
Audits
Audits
As a business, do you need to get an audit done?
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Following the enactment of the Companies (Accounting & Auditing) Act 2003, the turnover threshold for private companies availing of audit exemption has been increased. Which means that 95% of small companies do not require an audit. Companies that meet laid down criteria can qualify for audit exemption. That means that you do not need to get an auditor to audit your books but you still need to have your accounts prepared and submitted to the Companies Registration Office (CRO) and Corporation Tax returns will still need to be filed with the Revenue Commissioners. None of this removes your duty to keep proper books and records.
