Eamonn Heuston Accounting and Tax Services

By: Eamonn Heuston  05/12/2011
Keywords: tax, tax services, Financial Plan

We provide many services for businesses and individuals, focusing on accounting and book-keeping solutions for soletraders and audit-exempt companies, as well as VAT/payroll and personal taxation returns. We also provide consultancy services.

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You have found your product or service and now you need to decide how to initiate your plans. This phase can be critical to the long term growth and profit management of your business. Key decisions include:

  • limited company or sole trader
  • company registration and filings
  • registration for VAT/PAYE and Corporation/Income Tax
  • business funding and financial budgets including cashflow analysis
  • grant applications
  • audit exempt or full financial statements
  • recognising allowable tax deductions

Enlist the support of an an experienced practitioner to navigate you through the initial minefields and let you concentrate on your business.

We offer a complete professional accounting service to small and medium sized businesses. The level of service required, will depend on the level of your own in-house accounting resources.

Services provided include:

  • Preparation of daybooks from incomplete records.
  • Vat, Payroll  and Relevant Contracts taxation services
  • Monthly and quarterly management accounts
  • Advice on manual or computerized records

Annual statements of account include a profit and loss account and balance sheet. In addition a cash flow statement may also be included.

A limited company must submit annual accounts each year to the companies registration office no later than 28 days after the company's annual return date. However exemptions now exist to certain companies who meet certain criteria.

A wide range of backup is provided to meet the needs of the individual concerned. Each year this is of increasing importance with the Revenue Commissioners highlighting almost a billion in unclaimed refunds each year. Have you claimed for your medical expenses, bin charges, union dues, rent relief? Do you know there is relief for spouses who mind their children at home?

For larger clients making use of available reliefs such as pension planning, BES or Film Investment schemes offers additional tax management opportunities. Capital Gains tax, Gift and inheritance advice is also provided.

A wide range of services to cater for all needs and price categories are available.

As with personal taxation there are wide ranging reliefs available for the corporate sector. There are also significant penalties for tax avoidance and late payments of tax. Avoid these difficulties by ensuring your returns are dealt with by a professional.

We would normally recommend that small & medium sized businesses maintain a set of management accounts updated on a quarterly basis. This allows for a quarterly analysis & assessment of the performance of the business. By having a set of management accounts completed the business owner can verify that the business is moving in the right direction. If the management accounts reveal a deviation from the financial plan (budget), then action can be taken to address the issue.

Business plans will include a financial plan for the business for the first number of years of operation. Usually, there is heavy revision required for the financial plan after the first year of operation. In addition, each year should see the setting of business goals and objectives. These business objectives should be translated into a financial plan or budget. The budget is then used as a business measurement tool during the year.

Frequently, the most successful business are driven by innovative individuals whose primary background is non-financial. Their talents can be diverted from these areas through the complexities of maintaining the cashflow and administrative issues. Backup support can alleviate these worries and allow the business to develop and prosper.

As a business has developed the focus can often change for the owner to retirement/sucession issues, or how to liquidate cash from an asset rich business. This is an extremely important area for any individual or business and requires long-term planning for the best results.

To avail of these services or to find out more information, please contact us:

Keywords: Accounting and Tax, accounting and tax services, Financial Plan, tax, tax services