Business News
Library of Knowledge No. 13 Last Sunday 5th April ’20 revenue confirmed the tax treatment of the COVID-19 Wages Subsidy Scheme to employees. See below. Is the wage subsidy taxable on the employee? Extract from Revenue website 10/04/2020 (issued 05/04/2020) ‘The payments are liable to income tax; however, the subsidy is not taxable in real-time…
Library of Knowledge No. 12 The COVID-19 Business Loan from Microfinance Ireland is a government initiative to support small businesses through the current period of uncertainty and protect job creation or sustainment in Ireland. If your business is impacted or may be impacted by COVID-19 resulting in a reduction of 15% or more in actual…
Library of Knowledge No. 11 The Companies Registration Office (CRO) has extended the submission date for Annual Returns/B1 Returns due to be filed by any Company now and up to 30th June 2020 ‘It will be deemed to have been filed on time if all elements of the annual return are completed and filed by…
Library of Knowledge No. 10 We must remember that our business owners and entrepreneurs are the cornerstone of this economy – be proud. Many of us have successfully bounced back from the recession and as many have recreated or built new businesses – be proud. We must remind ourselves that we are strong and versatile…
Library of Knowledge No. 8 and No. 9 After the announcement on Thursday morning by Taoiseach Leo Varadkar and the government it brings to reality the challenges that Ireland and the whole world faces in these unprecedented times. Many businesses are going to face numerous challenges to ensure cashflow and at times survival. Enterprise Ireland…
Library of Knowledge No. 7 Businesses are under threat from the Covid-19 virus. For your business, it may become a threat to production/output, procurement of materials, profitability and ultimately cashflow. This immediately triggers alarm bells – please take proactive measures to protect our businesses by taking best advice and acting now. Employers: The Safety Health…
Library of Knowledge No. 6 All business but especially those that are service based can benefit hugely by creating a “Great Place to Work.”. “Organisations who take this model seriously, and think about how they can authentically apply it to every interaction they have with their employees, have discovered just how transformative the process can…
Library of Knowledge No. 5 Across the country SME’s will be promoting their businesses through their Local Enterprise Office (L.E.O) in Local Enterprise Week #MakingItHappen. To assist your business your local L.E.O will be hosting events to promote businesses in your area during week, Monday 2nd March 2020 to Friday 6th March 2020. You can also…
Accountancy firm EY has revised upwards its economic forecast for this year. EY’s latest Economic Eye report said it expects to see GDP growth of 3.4% for 2020. That is expected to moderate to 2.8% in 2021 and 2.7% in 2022. Professor Neil Gibson, Chief Economist for EY Ireland, said they revised the forecast following […]
Library of Knowledge No. 4 New minimum wage rates came into effect from 1st February 2020. These rates differ slightly from the 2019 rates and are purely age based and make no reference to the No. of years experience. See Links: https://www.gov.ie/en/publication/41a981-the-minimum-wage-in-ireland/ https://www.citizensinformation.ie/en/employment/employment_rights_and_conditions/pay_and_employment/pay_inc_min_wage.html Please check the following: That all employees are being paid their minimum…