Account Preparation & Tax
- ANNUAL ACCOUNTS are required for Tax Authorities, The Companies Office, Bankers, Grant Authorities, etc. We also prepare accounts and projections, which look to the future of the business, based on information you can provide about future prospects. It is also information which your bank manager will find reassuring when you ask for future finance.
- FARM ACCOUNTS: The nature and viability of farm holdings has changed greatly over the last 30 years. We continue to guide our farm clients through the maze of grant and tax incentives specific to farming activities.
- TAX:No one likes paying taxes. We use effective planning and proper standards to minimise your tax bill and to ensure that you need have no fear of Revenue Audits. All too often decisions about tax are made on the basis of half understood newspaper articles or advice from friends. When the flaws in these plans are discovered by Revenue you may find that not only have you failed to save any tax – you may even have increased your tax bill and laid yourself open to interest and penalties. So talk to us first.
We deal with all tax headings, including Income Tax, Corporation Tax, Capital Gains Tax, Capital Acquisitions Tax, VAT, Payroll taxes, etc., and we are in the best position to advise you on the tax implications of capital investment, property transactions, or succession planning.
- ANNUAL AUDIT: If you are operating as a Limited Company then you may require to have your annual accounts audited. If the company is a Limited by Guarantee Company, it is compulsory to have your annual accounts audited no matter what the level of turnover. Leahy & Co are registered auditors, and have extensive experience in the audit of various types of Limited Companies, Limited by Guarantee Companies, Voluntary Societies, and Credit Unions.
- COMPANY FILING: All companies are required to comply with the Companies Acts and their own Memorandum and articles of Association. The Companies Registration Office can impose severe penalties for breaches of the Companies Acts, including the late filing of Companies Office returns. Leahy & Co can take care of your company filing needs.
- NEW COMPANIES: Perhaps you are a sole trader, considering operating as a limited company. We can advise you on the advantages/pitfalls of incorporation, and assist in setting up your new company.
- CAPITAL INVESTMENT: Investment decisions have to be made with great care. Significant investment expenditure should be discussed in advance with a Chartered Accountant. We will point out the various options regarding finance, taxation, and possible future pitfalls at the outset and it will be necessary to appraise different projects before deciding on the best option to take.
- DEALING WITH FINANCIAL INSTITUTIONS: We are very familiar with all aspects of small business and are therefore in a position to negotiate with bankers, financial institutions, etc., regarding the best terms and conditions for borrowings, leasing, hire purchase and other loans.
- GRANT APPLICATIONS: Accounts and certificates are required for various grants available through state agencies. Familiarity with the various schemes is vital and we play a leading role in obtaining the full entitlements for clients.
- LUMP SUM INVESTMENTS/PENSIONS: Your choice of investment should reflect your own financial circumstances and objectives and your choice of pension is one of the most important decisions you will make. Most intermediaries take an initial and ongoing annual commission from pension/investment providers which can colour the investment decision and which greatly reduces the value of the investment or pension over time. We are authorized to give independent investment advice and we do not accept commissions from pension or investment providers. Instead we ensure that any commission, which would otherwise be payable is invested on behalf of the client for the benefit of the client.
The above list is by no means exhaustive, VAT, PAYE, PRSI, USC, Social Welfare, Employment Legislation, Central Statistic Office Returns, Business Restructuring, Personal Budgeting, are all part and parcel of what we deal with on a day to day basis.