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Accounting & Business Tips
Banking for businesses – March 2022

Banking for businesses – March 2022

Bank fees are a hugely contentious issue.  Banking in Ireland is expensive and is also a cost that is difficult to control (very hard to reduce number of direct debits,...

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How to pay yourself as a sole trader

How to pay yourself as a sole trader

As with lots of things related to tax and accounting, there isn't one answer as to what is the right way to pay yourself as a sole trader because there are many variables to be...

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Preliminary tax

Preliminary tax

Preliminary tax is something that everyone paying tax needs to be aware of. Preliminary tax is an estimate of the tax, PRSI and USC that you expect to pay for a tax...

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Sole trader and PAYE employee

Sole trader and PAYE employee

There is no issue with being a sole trader and PAYE employee at the same time. Many people start their business by working as a sole trader on the side while maintaining a wage...

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Tax relief on pension contributions

Tax relief on pension contributions

Anyone who makes pensions contributions to certain pension products is given tax relief on those contributions (including AVC's - additional voluntary contributions). Both...

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New e-commerce VAT rules July 2021

New e-commerce VAT rules July 2021

There has been a VAT overhaul with new e-commerce VAT rules commencing on 1st July 2021. The rules are supposed to simplify life for businesses that sell online by ensuring VAT...

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Tax deduction on food and entertaining

Tax deduction on food and entertaining

I posted a general video on what expenses are deductible for tax purposes which you can find here.  However, claiming a tax deduction on food and entertaining is a specific...

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Keeping your accounting records

Keeping your accounting records

I am often asked what is the best way to keep your accounting records. There is no "one size fits all approach" as it depends on where your business is at and what you can afford...

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Tax treatment of cryptocurrency

Tax treatment of cryptocurrency

What is a cryptocurrency? Before discussing the tax treatment of cryptocurrency, let's have a quick recap on what cryptocurrency actually is. A cryptocurrency is a digital or...

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The basics of VAT in Ireland

The basics of VAT in Ireland

About VAT in Ireland VAT is a sales tax and is paid by the final consumer of goods and services. Anyone who buys goods and services pays VAT. It is included in the price of goods...

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Sole trader or limited company?

Sole trader or limited company?

It can be difficult to decide whether your business should start as a sole trader or a limited company. This is an individual decision for each business owner and dependent on...

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