http://www.irishtimes.com/business/personal-finance/self-employed-to-get-sick-pay-for-first-time-from-december-1.3298310

356,000 Self Employed to become entitled to long-term illness benefit

 

The Government is moving towards granting sick pay to self employed individuals in cases of serious illness or injury. This will significantly ease the burden when such events strike. See more in The Irish Times article here:

 

http://www.irishtimes.com/business/personal-finance/self-employed-to-get-sick-pay-for-first-time-from-december-1.3298310

Revenue’s Jobs & Pension Service

The Revenue Commissioners introduced the Jobs and Pension Service with effect from 12 September, 2016.  This system replaces Form 12As which were completed by the employee and submitted to the Revenue Commissioners by the employer to manually apply for tax credits and Form P46s which were completed by the employer through ROS, Revenue’s online system.

 

Each new employee must now (from 12 September, 2016) apply to allocate credits to a new job using the Jobs and Pension Service through My Account on Revenue.ie.  It is no longer possible for the employer to apply for the credits.

 

Please recommend to all current and new/potential employees to register for My Account through the Revenue Commissioners website.  The following information is required to register for my account;

  • PPS number
  • Date of birth
  • Mobile/landline number
  • Email address
  • Home address

2 of the following will also be required to verify identity;

  • Irish driving licence number
  • P60 details
  • For self employed people – Acknowledgement of Self Assessment/Notice of Assessment

 

Emergency tax rates will apply without tax credits being allocated.

 

Please contact our office on 0402 29376 or info@rhendy.ie if you have any queries in relation to this item.

Thinking of starting your own business?

If you have recently set up or are thinking about setting up a new business you might be wondering what you need to do as regards taxes and compliance.

At R Hendy & Co one of our specialist areas is new start ups whether it’s a company or sole trader.  We work with you to establish what your objectives and priorities are and this ensures that we provide you with the most appropriate advice to you.

While the lower rate of corporation tax, generally 12.5% is attractive, operating through a company might not be the best option for every new business.  This is a one key area we will review with you.

We can assist you with the following areas;

–  company formation and incorporation 

–  tax registrations

–  business name registration

–  provision of bookkeeping template spreadsheets

–  guidance on bookkeeping software and set up

–  preparation of bookkeeping records and filing of Revenue VAT returns

–  preparation of payroll and filing of Revenue PAYE returns

–  Companies Registration Office and other company secretarial compliance

–  preparation of annual financial statements (accounts) and tax returns
As your business grows we will tailor our services to suit you, including pension advice.

If you think this applies to you please contact our office on 0402 29376 or email us at info@rhendy.ie

Bankruptcy Costs Reduced

The cost of a bankruptcy has decreased by as much as €750.00 from December 2013.

When the Companies (Miscellaneous Provisions) Act 2013 was passed by the Oireachtas at the end of December, it  has allowed for a reduction in the costs associated in giving notice of bankruptcy by a person adjudicated bankrupt.

The essential change is the provision of a new option: that of using cost free, the website of the Insolvency Service of Ireland for the notice of bankruptcy in addition to Iris Oifigiúil.

There is now a new section on the Insolvency Service of Ireland website, for these advertisements.

https://www.isi.gov.ie/en/ISI/Pages/Statutory_Sittings

Vodafone’s Return of Capital to shareholders

As you may be aware, the Vodafone Group proposes to reorganise and return some capital to shareholders.  The background to this is that the group on 2 September, 2012 announced that it planned to sell its Verizon Wireless investment to Verizon Communications Inc.  Following is a link to the Revenue Commissioners website that deals with the majority of small Irish Investers who bought Eircom shares in 1999 and still retain the related Vodafone shares.

The important thing to note is if you opt for the return of Capital AND complete and return the relevant forms, the return will be subject to Captial Gains Tax and may effectively be tax free (as the return leads to the crystallisation of a Capital Gains Tax Loss) but if not the dividend will be subject to Income Tax and related levies and charges.

http://www.revenue.ie/en/tax/cgt/vodafone-shareholders.html

Also attached is an interesting article from the Irish Independent giving guidance on how to complete the bundle of forms Vodafone Investors received recently. Its well worth a read

http://www.irishtimes.com/business/personal-finance/vodafone-windfall-how-much-will-i-get-what-do-i-do-1.1653948#.UtZlJcMDBR0.email