A GUIDE TO THE CENTRAL REGISTER OF BENEFICIAL OWNERSHIP (RBO)

a new law has been introduced (statutory Instrument, No. 110 2019) to establish a Register of Beneficial Ownership of Companies. In addition to a company’s obligation of holding adequate, accurate and current information on beneficial owners, there is now a requirement to file the data with the CRBO through an online portal. Non-compliance with the legislation is a criminal offence and may be punishable by way of a fine.

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Accountancy and the Bots

The advent of double entry bookkeeping was considered one of the greatest advances in the history of finance. Even though some people still struggle to understand the difference between a debit and a credit, the concept hasn’t changed since its inception which was over 500 years ago. However, as the old axiom goes, when things change they tend to do so gradually and then suddenly.

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Deed of Covenant

Deed of Covenants are generally used for children and elderly parents to assist with living expenses and medical bills. A deed of covenant is legally enforceable whereby the individual (the covenantor), agrees to give a portion of his or her income to another person, (the covenantee), without receiving any benefit in return.

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Brendan Brady
Are tips taxable?

As a rule, if you work off the assumption that ALL income is taxable unless otherwise stated by a relief or an exemption then you won’t be disappointed when told otherwise.

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Brendan Brady
Alternative Funding Sources

When a business needs to raise funds, getting a bank loan is usually the first option that comes to mind. Banks are not always willing to lend but the good news is they are not the only option.  In this short article, we look at four alternative sources of finance:

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Brendan Brady
Non Residents and Irish income tax

In the table below, we summarise the scope to Irish income tax based on an individual's tax residence. If you are Resident, Non Resident or Non Domicile this table is a useful guide. Please keep in mind that this is a high level basic summary. If you need to have a more detailed conversation in relation to your tax residency please arrange a consultation.

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Brendan Brady
Revenue Investigations for Airbnb Hosts

The Irish revenue have begun issuing notice of investigations to Airbnb hosts with Irish listings. This comes as no surprise since Airbnb announced back in 2015 that it would be sharing information with Revenue on its Irish listings under S880 and 890 TCA97.

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Brendan Brady
Tips on cutting business costs

From time to time all businesses need to cut costs. The impetus might be to fund growth, improve profitability or survive a difficult patch. Whatever the reason, it is rare that a single action will generate the necessary cash. Usually, what’s needed is a series of cuts across a range of expenses.

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Brendan Brady
This Blogging Business

Running a successful blog requires good business skills. Design, content and promotion are important but unless you understand business basics, you’re likely to run into problems that will cost you time and money.

Often, administrative tasks go on the back burner because other issues seem more urgent. However, if you introduce a few basic systems and controls, your administration will be easier and your blog will be more successful in the long run.

Here are three tips to help you get a grip on your blogging business.

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Brendan Brady
Succession Planning

Succession planning is extremely important in owner-managed businesses. While you might not intend to sell up or retire for many years to come, circumstances change and it’s important to be prepared for every eventuality.

For some business owners, change can come in the form of an unexpected offer that’s too good to turn down. For others, illness or a change in family circumstances can trigger a crisis.

Whatever the situation, without a succession plan business owners generally lose out financially.

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Brendan Brady