TWSS Reconciliation – Important Update One year after the introduction of the Temporary Wage Subsidy Scheme (TWSS), the Revenue reconciliation process is underway. Revenue have now compared the total subsidy amounts paid to employees, against the total subsidy amounts paid to employers, to determine the amount of TWSS (if any) owed back to Revenue by […]
VAT Rate Change From 1 March 2021, the standard rate of VAT has increased to 23% from 21%. This is a reversal of the temporary reduction as part of Covid 19 measures back in September 2020. The standard VAT rate applies to a wide range of goods and services such as professional services, telecommunications and […]
Xero Emerging Firm of the Year 2021 Finalist We are delighted to announce our nomination as one of just three finalists in the Xero Awards – Emerging Firm of the Year 2021. We are very much looking forward to the awards which will be held in March 2021. You can watch the playback of the […]
Xero Testimonials Here are quotes from some of our clients on how Xero is supporting their businesses. Portlaoise Gas & Oil Limited The saying often goes “time is money”. Prior to using Xero, I operated manual books and records. I would sit with my employees on a Friday and spend the morning preparing invoices for […]
VAT Rate Change from 13.5% to 9% On Tuesday 13 October 2020 as part of Budget 2021 the Government announced additional measures to support businesses that have been worst hit by restrictions imposed during the pandemic. One of those measures was the change in the reduced rate of VAT. From 1 November 2020, the VAT rate for […]
COVID Restrictions Support Scheme (CRSS) Overview and Examples COVID Restrictions Support Scheme (“CRSS”) is an additional government support for businesses subject to significant Covid-19 restrictions. Set out below is information on how the scheme is intended to operate as well as some worked examples of the scheme provided by Revenue. It is proposed that CRSS […]
Platinum Xero Partners We are pleased to announce that Lalor O’Shea McQuillan are now recognised as Platinum Xero Partners. This is the highest level of partnership available with Xero, the leaders in Cloud Accounting technology. We obtained platinum status due to the high percentage of clients who have migrated to Xero and because a large […]
Budget Highlights 2021 INCOME TAX An increase in the Earned Income Credit from €1,500 to €1,650 An increase in the Dependent Relative Credit from €70 to €245 Extension of the Sea-going Naval Personnel Tax Credit to 31 December 2021 and to increase it to €1,500 for 2021 (from €1,270 in 2020). €203 increase to the […]
FURTHER UPDATE CONCERNING THE COVID-19 WAGE SUBSIDY SCHEME This e-news provides a further update concerning the Covid-19 Wage Subsidy Scheme in light of the publication of Revenue guidelines regarding their approach to employer’s eligibility for the scheme and the examination of supporting proofs.
REVENUE MEASURES INTRODUCED TO RELIEVE THE IMPACT OF COVID-19 The Irish Revenue have announced some measures which are designed to help support small and medium size businesses (SME’s) experiencing cash flow and trading difficulties as a result of the Covid-19 epidemic.