try workflowmax.com. Weve just installed the basic package and it does what is says on the tin. There is no set up fee just pay as you go "on the cloud"
Hi Im an acountant practising in ROI. VAT is an EU wide tax so you should be able to recover the ROI input VAT via UK HMRC. I note you mention credit card expenses which may be of a travel nature. In general VAT on travel and accommadation in ROI is not recoverable but you can claim as a business expense. Generally you can only go back six months with a foreign VAT claim. Send me a post if you need more assistance.
Hello, my name is Cathal O'Donoghue and I'm a partner with Wallace O'Donoghue Accountants in Dublin, Ireland. We have a lot of experience with companies operating in both the UK and Ireland etc on both the export and import side and the VAT issues involved and have also clients in the health care sector. Ordinarily if the health care product is of a medicinal nature it should be VAT exempt as medicines are normally VAT exempt however if the product is not medicinal it may not be VAT exempt but have a "zero" VAT rating or a higher 23% rating. If you want to email more details etc to me at [email protected] I can follow up on the matter.
In choosing your PI cover the most important thing (in my mind) is the solvency of the underwriter and their history of paying on a claim. Your broker should advise on this, some underwriters nit pick so you may not be covered because of some minor matter on a file. In addition if you have a claim you need to be able to have a broker who can work with you and your solicitor. as accountants we are well aware of firms charging rock bottom prices for tax compliance work but when Revenue call have they the resources and depth to look after their client? No such thing as a free lunch!
Hello I am an accountant practicing in Ireland . You will need to write to Revenue to get a Tax agents identification number (TAIN). Once they know you are a bone fide firm of accountants this should not be a problem. You will need to download software from the revenue website called ROS offline so as to prepare the company tax return form CT1. Company accounts are not submitted to Irish Revenue but the form Ct1 includes accounts extracts. As from 1 June 2011 all company tax returns for all tax headings must be filed on ROS .
For the CRO return you can still file a paper return Form B1 if you dont have the CRO software. Hard copy original signed accounts must be filed. The format of accounts is more detailed than the UK. if the annual return is late you lose audit exemption for that set of accounts and the next accounting year. Be warned
client size type
In taking on clients at the start up phase like I was 5 years ago I took on anything and everything which ultimately caused some headaches but cashflow was often a driver of work. If you target small tax return clients while they are generally not too demanding you can end up with large spikes of work near the tax filing season. However if these clients are routine and uncomplicated the work can be delagated to junior staff (or even outsourced) with a tidy margin. The problem arises when the number grow over 100 plus , (depending on your service style) this can involve 100 plus client meetings, numerous telephone calls and redrafting of the final tax returns. Licence fees need to be paid for software, you need to have tax cpd so slowly the "tidy margin" is erroded . Typically clients socialise in clusters of like minded people so the €500 client will refer other €500 clients. The larger company client will probably refer company type clients with higher fees and better margins. Fish where the fish are- do you want small fry or maybe a nice side of salmon? I would target to grow your practice by having no more than 100 clients where a client may include a company, its directors and the immediate family. Running a small practice is about managing relationships and the key limiting factor is time. Once you hit the magic 100 you need to start grading clients as A, B or C and start culling at the bottom by increasing minimum fees (or alternatively set up a tax return sausage factory like some firms do) etc. Based on the Pareto model 20% of the clients will need a lot of attention and will probably pay very good fees and hoover up all your advice while the remaining 80% just need monitoring. within the 80% will be few to be nurtured into the 20% pot and a few to be culled at the bottom . No doubt the pile em high sell em cheap model works for some
In setting an annual fee quote for a client we tend to include a buffer for routine corresondence (to include reference letters etc) and routine once off meetings (where there are 2 or more meetingson a single client matter we will charge a fee) so this should cover your time. If you charge a rock bottom fee you need to explain at the outset that all additional bits of work are extras and are billeable (thnk of Ryanair versus BMI or BA).
As regards drafting a reference letter for a client such a letter should include a disclaimer of responsibility etc or you could be exposed to being sued by a Bank or landlord. By putting in a disclaimer it is propably unfair to charge the client for such a letter.
Stand back and think about what you are proposing to do. Could you imagine a painter quoting to paint your house without actually inspecting it? Even if the painter knew about the square footage of the house he would need to examine the condition of the walls and assess the timber etc. This prospect is most probably a tyre licker so move.
AVN and Probiz
Firstly let me say I have a set of smashing golf clubs, however my golf is terrible. The same can be said about my tennis game. Basically I dont practice and play enough (I have a very expensive tennis racket) .
We are member firm of 2020 group and that in itself has not imporved our fee income or the quality of our clients. However 2020 group has given us a methodology and tools to provide "added value" and business advancement services to our clients. The initial problem was like my golf game is that I got the manuals and tool kits but didn't work on it. I was "too busy" at compliance work. Well this year we identified that same old same old wouldn't work for us or our clients so we made time to practice the use of the tools and methodologies. Initailly as with my golf game the results were patchy but over time we have made noticeable advances in both client satisfaction and fee growth.
it was actually Gordon Gilchrist of 2020 who provided the analogy of the golf game. 2020 will gladely take your subscription fee but only you can improve your game (with a lilttle coaching and plenty of practice).
I am a partner in Wallace O'Donoghue in Ireland. We are a member firm in Ireland of IEC an international accounting network. Our member firms are small to medium firms so you will be dealing with a single contact or 2 and you won't get fleeced on fees. We have a Cypriot member firm Audit Chart. The contact details are as follows:
George Themistocleous AAIA
61, Arch Makarios III Aven, 2nd floor,
P.O. Box 53684
3317 Limassol - Cyprus
Tel. 00357.7777.8910 or 00357.2576.2216
E-mail [email protected]