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Audit
As auditors, we provide assurance on the truth and fairness of a client’s financial statements,
highlighting control and system weaknesses and offering practical recommendations for improvement.
To arrange an introductory meeting, please contact Kevin Egan on (01) 792 6069.
Pictured (l-r): Joanne Kelly, Kevin Egan and John Dunne |
- Important financial dates
| Date |
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| 14 |
IT |
Payment of PAYE/PRSI deductions for January. |
| |
DWT |
Due date for payment and filing of returns of withholding tax on dividends paid by companies in January. |
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VAT |
Filing of Intrastat return for January. |
| 15 |
IT |
Submission of Form P35, payment of any PAYE/PRSI balance for 2007 and issue of Forms P60 to employees. |
| 21 |
CT |
Company year-end 31 March 2008: Preliminary tax due, minimum 90% of total liability for the year. Company year-end 31 May 2007: Payment of balance of corporation tax and filing of corporation tax return. |
| 28 |
CS |
Filing of Annual Returns dated 31 January 2008. |
| 29 |
CT |
Company year-end 31 August 2006: Close companies with undistributed profits may have to make a distribution by this date to avoid surcharge.
Company year-end 31 May 2007: Filing of “Return of third party information” (Form 46G). |
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CS |
Company year-end 31 May 2007: Final date for holding Annual General Meeting and latest possible Annual Return date for 2008. |
Abbreviations: CAT - Capital Acquisitions Tax, CGT - Capital Gains Tax, CS - Company Secretarial, CT - Corporation Tax, DWT - Dividend Withholding Tax, IT - Income Tax and PAYE/PRSI, Pens - Pensions, SD - Stamp Duty, VAT - Value Added Tax
*As this date falls on a weekend, it is advisable to take action on the immediately preceding working day. |
- Planning considerations
- Remember to check your certificate of tax credits and standard rate cut-off point so that the figures are correct, particularly if your personal circumstances have changed.
- Remember, 31 March next is the latest date by which spouses may elect for separate assessment for both income tax and capital gains tax purposes, or for joint assessment where a separate assessment election exists.
- If you are married and had capital losses in 2007, consider whether you wish these to be carried forward rather than offset against gains of your spouse - see ’important fi nancial dates, 31 March’.
- Under pensions legislation, trustees of single-member occupational pension schemes can borrow funds in order to acquire assets. Do the rules have implications for your pension scheme?
If you intend to dispose of an asset which will give rise to a capital gains tax liability, you should consider the possible tax saving available if capital acquisitions tax also arises in relation to the disposal.
- Did you know that residential properties can be transferred to children and other benefi ciaries free of gift tax and inheritance tax if certain conditions are met? Stamp duty relief may also be available.
- Employees working in Ireland may qualify for tax relief in respect of overseas pensions schemes provided certain conditions are met.
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