Barely a week goes by without Ireland’s much published corporate tax rate making the news. Whether it’s foreign leaders decrying Ireland’s supposedly unfair tax advantage or yet another corporate giant making Ireland their home, Ireland’s tax rate remains as controversial as ever.So why does our corporate tax rate generate so many headlines? While Ireland’s 12.5% corporate tax rate is certainly low when compared to the European average of 19.35%, this 12.5% isn’t the lowest in the world. The distinction of the world’s lowest corporate tax rate is shared between Hungary and Montenegro. Both Hungary and Montenegro offer a 9% tax rate to corporations. Even …

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Dublin has always been Ireland’s entrepreneurial hub. Almost every industry imaginable operates in Dublin.Both small businesses, sole traders and huge multinationals call Dublin home. On the surface level, other than being based in Dublin, these different sized businesses may not seem to have all that much in common. But what they all share is a need for professional, experienced and straightforward accounting and bookkeeping services. While massive corporations are in a position to hire on-site accountants the sole trader should be looking at outsourcing their accountancy requirements. Accountancy and bookkeeping are complex and time-intensive areas of business should only be completed by fully trained …

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When you start a new business, your focus is on gaining customers and building an income. Hiring an accountant may seem like an unnecessary expense. However, there are innumerable advantages to hiring a start-up accountant.Read on to learn why hiring a start-up accountant in Dublin could be the best decision you ever make for your start-up business. The Benefits of Hiring a Start-Up Accountant Starting a business can be tough, and this is made even tougher if you are someone who isn’t well-versed in the accounting and tax side of the business. Taking care of your business’s financials can be daunting which is why …

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Due to the continuing effect the COVID-19 pandemic is having on businesses, the government is offering a range of grants to help small and medium-sized enterprises adapt to the challenges presented by COVID-19.Some of these grants are designed to help new businesses establish themselves in these difficult times and others are designed to help older businesses adapt to the challenges presented by the pandemic. In today’s blog, we are going to discuss some of the grants that are available to Irish businesses along with giving a quick overview of who qualifies for these financial support packages.If you have any questions regarding these grants, please …

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It’s not an exaggerating to state that how the world works has been forever changed by the Covid-19 pandemic.Only a few short months ago, working from home would have been unthinkable for most people, however, working remotely or e-working has become a reality for much of the country. Aside from the obvious challenges of working around children or fighting with unreliable internet connections, there are tax ramifications associated with working from home.Today we hope to make it clear what tax rebates an employee working from home is entitled to. What expenses are you entitled to Claim tax relief on? If you are working from …

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The continuing and ever-evolving ramifications of the COVID-19 pandemic has left many small businesses struggling to survive.During the lockdown, industries serviced by sole traders were hit particularly hard. And as more and more counties move from level 2 to level 3 on the national pandemic response scale, more and more sole traders will likely see their business adversely affected by these tightening restrictions. Along with having to adapt their business practices in line with changing government regulations, businesses are also dealing with a downturn in the economy.In order to mitigate the damage caused to sole traders, the Irish Government is offering a once-off €1000 …

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Are you a start-up worried about how VAT is going to impact your business? Not sure how to register for VAT? Are you a business that relies on the British market and are concerned about how Brexit is going to affect VAT? In this article, we want to cover everything from the basics of VAT to more complex issues surrounding VAT and Brexit. The Basics: What is Value Added Tax? VAT is a tax that is added to goods and services. Almost every product or service we purchase will have VAT added to the price.Once a business owner registers for VAT they must charge …

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With the avalanche of changes affecting the Irish taxation system — not least of all PAYE Modernisation — there has been a lot of talk about the advantages/disadvantages of accountancy outsourcing. What are the advantages of outsourcing your business’s accountancy needs to a third party accountancy firm? What are the disadvantages? A persistent myth surrounding accountancy outsourcing is that a business ends up having less control over its financial reporting. It is also often stated that outsourcing ends up costing more. This ridiculous and frankly dangerous rumour can sometimes have a company seeking out software solutions in place of a trained accountant.  It may seem …

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For what seems like an eternity, Brexit has dominated news headlines all over the world.The British government lurches from one crisis to another as power plays, partisan politicking and incessant party in-fighting leaves Britain — and the wider European block — floundering in a mess of uncertainty.Will it be a hard Brexit, a soft Brexit or some Frankenstein-like combination of both? Nobody seems to know. The details of Brexit are no clearer than they were in the immediate aftermath of the shock referendum result way back in 2016.This uncertainty affects all of us, but perhaps no other group is affected by this uncertainty more …

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Is your company ready for Brexit ? With more and more uncertainty around regarding Brexit  it’s reassuring to know we are here to help. We can answer your questiond for you, Help you set up an irish company so you can still be and trade in the EU. Here at Bond and Co, we fully appreciate that Brexit has become a hot topic for many businesses and we understand that you may have some concerns. We are here to help you to prepare your business for the Brexit changes. Be Brexit ready with the help of our experienced and dedicated chartered accountants. We can …

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