This free download contains the most up to date and comprehensive tax advice in areas such as Income Tax, Corporation Tax and VAT. If you have any queries please feel free to contact a member of our Tax Team . Download #2018 #BusinessGuide #TAX #Tax2018

Leaving the emotionally fuelled debates that surround the topic of gender inequality in business behind, there are many reasons as to why the utilisation of females in leadership roles is advantageous for firms. There is a positive correlation between female leadership and firm performance. That is not to say that simply appointing a female as the CEO of a company will garner success. There should be a more organic stream of female leaders throughout the business; not just at the very top of the hierarchy. Let’s now look at a couple of key benefits that female managers, directors and leaders bring to business: Conducted surveys have enabled comparisons between male and female business leaders. Female business leaders perform better in a variety of different management competency areas. The findings speak volumes nonetheless. Females in leadership roles: • Perform better at developing employees • They are better at developing relationships and working collaboratively with employees, customers and stakeholders • The female business leaders are more ethical, honest and have more integrity than males in similar positions • They embrace change and are better able to adapt to changes. ‘They Champion Change’. • Problem-solving is an area that they appeared more competent in. Sources: Forbes, wallstreetinsanity.com, medium.com #2018 #Leadership #UHYFDWTeam

The success of every woman should be the inspiration to another – Serena Williams UHY FDW are passionate about supporting women in business whether that is our employees, clients or women in business in the local community and around the world. To show our support and encourage women in the North East of Ireland and beyond we have set up UHY FDW WISE – Women Inspiring Strength in Enterprise. The aim of UHY FDW WISE is to connect with women in enterprise around the globe. Our goal is to support, inform and collaborate with women from all sectors and industries, exchanging ideas and information to aid our professional development. The Goals & Aims of UHYFDWWISE: Women helping women to succeed in business Sharing business skills and experiences Passing on contacts and sharing resources Having confidence in internal referrals and in an all women environment Benefitting from compassion, wisdom and experience Support for women getting started in business or getting back into the workplace Possibility of creating business opportunities within the network Brainstorming and sharing ideas Pooling knowledge and expertise Become a part of our network! Follow us on Twitter Join our LinkedIn Group Follow us on Facebook We are encouraging all members to be actively involved in the group by engaging in these conversations, networking with fellow members and inviting others to the society. We will be hosting an event in the coming months with some well known guest speakers so if you would like to be kept informed join our LinkedIn group and follow us on Twitter and Facebook. Is this networking group for you? Are you female? Are you in business? Are you successful? If so, this network may be of interest to you. To learn more about UHY FDW WISE contact Jane Jackson janejackson@fdw.ie +353 42 933 9955 #2018 #UHYFDWTeam

Optimism and Threats in Ireland’s Agri-Food Sector The agri-food industry continues to be a crucial part of the Irish economy. It accounts for 7.6% of Ireland’s economy-wide GVA, over 10% of total exports with a Gross Agricultural Output (GAO) was valued at €6.92 billion in 2016 and employs 8.6% of the workforce. Agri-Food Challenges The agri-food industry is dealing with a range of problems from climate-change, rising costs, and the uncertainty around Brexit. The implications of Brexit for the agri-food sector of Ireland could be catastrophic. Additional tariffs on exports to the UK could seriously damage trade (€2 billion decreases in meat and dairy exports). If UK supermarkets decide to stock cheaper non-EU products to avoid the tariffs, then the agri-food sector in Ireland will suffer enormously. Ag-Tech Investments in the Ag-Tech industry will have a significantly positive impact on the agri-food industry in Ireland. The Finistere Group and the Ireland Strategic Investment fund have announced the birth of the ‘Ireland Ag-Tech Fund’, which plans on investing into Ag-Tech start-ups. The fund of €20 million together with the existing ingredients for success in the Irish agri-food sector can accumulate to achieve economic growth. “All the ingredients are here – a longstanding, export-oriented agri-food industry; world-leading research at Irish universities and institutions, such as Teagasc” – Finistere’s Kieran Furlong The agri-food industry in Ireland is faced with threats and opportunities. The main negative is the implications of Brexit on the industry, while there is also well-founded optimism for the industry due to the influx of investments into Ag-Tech. Ag-Tech investments together with the future planning of EU/Irish-based invectives and associations, are positive developments for the industry, which can improve the growth and bring sustainability to the sector. Sources: ( EC Commission , The Irish Times ,  Agr i L and ) Contact our Team Email Call Request a Call Back From Our Team #2018 #Agriculture #BusinessinIreland

UHY Global – Issue 5 UHY Global, a bi-annual magazine, gives you insight into international business topics, featuring thought-leading opinions and experiences from global contributors including UHY member firms, leaders of UHY service and industry groups and external sources. A true representation of what the UHY network is about. UHY Global goes digital! Read about the diversity, the thinking and the difference that a truly global team can make… Our latest issue of UHY Global includes the following key business topics: GLOBALISATION IN RETREAT? Is it on the wane or just evolving? GETTING THE GIG – The global rise of the independent worker RETHINKING EUROPE – Growth and potential shifts eastwards TAXING THE WORLD Read the full digital version here Request a Call Back From Our Team #2018 #BusinessAdvisory #UHYGlobalIssue

In an article published by in the Irish Construction Industry Magazine, irishconstruction.com , UHY Farrelly Dawe White’s Alan Farrelly, shares the six steps of complying with Relevant Contracts Tax. Businesses in the construction sector now have to conform to a new Relevant Contracts Tax system that was introduced in 2012. Follow the link to read ‘Key Issues about Relevant Contracts Tax within the Construction Sector’. “Due to the increased activity in the construction sector in recent times we have seen a rise in requests for advice on and assistance with the operation of Relevant Contracts Tax from businesses within the sector…” . Read article #2018 #BusinessinIreland #Construction

From 1 January 2018 the National Minimum Wage will increase to €9.55 per hour. The changes in National Minimum Wage are represented in the table below. [table id=22 /] For the purposes of the Act, the following payments are regarded as wages: normal basic pay, as well as any overtime shift allowances or other similar payments any fee, bonus or commission any holiday, sick or maternity pay any other return or payment for work (whether made under the contract of employment or otherwise), any sum payable to an employee in lieu of notice of termination of employment. The following payments are not regarded as wages: any payment of expenses incurred by the employee in carrying out his/her employment any payment by way of a pension, allowance or gratuity in connection with the death, retirement or resignation of the employee or as compensation for loss of office any payment referable to the employee’s redundancy any payment to the employee otherwise than in his/her capacity as an employee any payment in kind or benefit in kind. For further information on the Act follow this link: National Minimum Wage A ct 2000 For further information or assistance with processing your payroll, please call Niall on +353 42 933 9955 or email niallclarke@fdw.ie . #2017 #Act #MinimumWage #Payroll

In our Winter 2017 issue: Don’t Waste Sole Trader Trading Losses An Inheritance Tax-Free Rental Property Business? Spouse’s Wages – Legitimate Expense Or Tax Dodge? Equity Release Pre-Letting Repairs Claim A Deduction For Training Cost Read the Winter Newsletter #2017 #UKNI

Some of the Big Business News Stories From the Last Few Days British firm Wasdell creates 300 jobs in Dundalk A British pharmaceutical services firm has said Brexit was one of the key factors in its decision to open a €30m testing and packaging facility in Dundalk, Co Louth, that will see 300 jobs created. Wasdell Group, which is based in Swindon in the southwest of England, said it would open a pharmaceutical packaging, testing and distribution facility in Dundalk, with the jobs spanning five years. Read the full article: IrishExaminer.com Dairy farmers are ‘not in the business of meat sales’ Dairy farmers are not in the “business of meat sales” – that was the clear message from one New Zealand agri-advisor. Kerry native Dr John Roche from the Down to Earth Consultancy firm has advocated the New Zealand-gene Holstein or Holstein-Jersey crossbred cows with a body weight of 500-525kg as the most efficient animal to maximise profits on grass-based dairy farms. Speaking at the recent LIC-Eurogene event in Co Limerick and Co Tipperary, Dr Roche dismissed concerns raised over the low value of male offspring from Holstein-Jersey herds, as he advised expanding dairy farmers to “definitely go for crossbred for an easier animal”. Read the full article: Independent.ie Taoiseach names Simon Coveney as new Tánaiste Taoiseach Leo Varadkar has announced Simon Coveney as the new Tánaiste, replacing Frances Fitzgerald. The Cork man, who was Mr Varadkar’s rival for the Fine Gael leadership earlier this year, will also continue to serve as Minister for Foreign Affairs and Trade with responsibility for Brexit. Read the full article: RTE.ie Bitcoin loses a fifth of its value in 24 hours after reaching record highs Bitcoin slid to as low as $9,000 today, having lost more than a fifth of its value since hitting an all-time high of $11,395 yesterday. The cryptocurrency fell as much as 8% on the Luxembourg-based Bitstamp exchange to hit $9,000 exactly, marking a fall of well over $2,000 in under 24 hours. Read the full article here: RTE.ie Read more on our blog Email Call Request a Call Back From Our Team #2017 #LatestTopics

Entrepreneurship – Top Tips Starting a business is now a serious option for the nation’s youth and many already have a business idea. UHY FDW are passionate about supporting young entrepreneurs in their ventures. That’s why we are starting a new Young Entrepreneur Series on our blog, to provide helpful business tips, interviews with successful entrepreneurs and advice from our own team. In our first Young Entrepreneur Series post, we look at the Top Tips for entrepreneurs. There are many ways entrepreneurs can become successful and every young entrepreneur will take their own path in the journey to success but here are some key points that will inspire every type of entrepreneur. Learn about your industry A good place to start is to find out as much about the industry you are entering as you can. Read about the industry, the statistics, what motivates the people in that industry. Make sure you are fully informed. Use this as an opportunity to network also by going to industry events and conferences. Don’t follow you competitors. Always be ready to pitch your business Ideally have the pitch down to one line. Always remember that less really is more when it comes to pitching your business, make your pitch sharp, factual, interesting and authentic. If you spark interest you can then ensure you speak about your mission, services and goals. Have your elevator pitch down to a fine art and ensure you are able to tailor it so you can fit the pitch to the person you are speaking to. “Whether you think you can, or think you can’t, you’re right.” – Henry Ford Believe in yourself You must believe in yourself and your business idea wholly in order to succeed. Overcome the self-doubt and the doubt you will undeniably receive from media, colleagues and industry competitors. Believe you can succeed and you will. “If you’re going to start a business, you need to really love it because not everybody is going to love it.” – Arianna Huffington Be passionate You must have passion, courage and conviction. Nobody else will be as passionate about your business as you are. Your passion will drive your results, it is your inner fire. When you see the results you will be even more ‘fired up’ to succeed – this is the energy that passion will bring to your venture. Without passion you will run out of the energy necessary to push your business forward. Learn from your mistakes You will make mistakes. Every business does. The key though is to view your failures as opportunities. If you have an open mind you can learn from your experiences, whether they are good or bad. Ensure you stay positive and focused on your goals, take action when you make mistakes and you will push through the obstacles lead your team and business to your objectives. Contact our Team Email Call Request a Call Back From Our Team #2017 #BusinessGuide #Leadership

GRID Finance GRID Finance provide finance solutions to the Business Sector. As a partner of the Restaurants Association of Ireland and Retail Excellence of Ireland GRID Finance have many customers in those sectors who avail of their facilities to complement their existing financial arrangements and provide working capital solutions. GRID Finance have €30m in institutional funding for these sectors. GRID Merchant Cash Advance Loan This is a cash advance solution that works with the company’s credit/debit card machine. It works with the natural trade cycle by facilitating flexible daily loan repayments thus having a low impact on cash flow. It allows the business to access cash from €10,000 – €150,000, repayments are made daily as a small percentage of your future card sales. This can be increased where the need is greater and can be re-paid from a multiple of businesses. In order to progress an application GRID Finance require the following: 1) Completed Business Financial Health Check 2) Last 6 Months Bank Statements for the business 3) Last 12 Months Merchant/Credit Card Statements for the business 4) Most recent Year End Financial Accounts (audited) 5) Most recent Management / Trading Accounts (P&L) GRID Finance provide credit approval within 48 hours (Once all documents are received). Cash can be advanced to customers within 2-3 working days thereafter. Application process is simple, no business plan or cash flow projections required. This is an ideal tool for existing business that need to inject liquid capital for the following: Expansion Refurbishments Inventory/Stock Equipment/Machinery Working Capital Revenue/Insurance Payments New Franchise GRID Finance is Irish owned and backed by Enterprise Ireland. GRID’s Cash Advance Facility GRID’s Cash Advance Facility is a short-term finance solution that works with your business and its existing credit / debit card machine. You can borrow up to €150,000 over a maximum of 12 months. Repayments are made daily as a small percentage of your future card sales until you have repaid the full amount. Contact GRID Finance www.grid.finance +353 1 524 1615 info@grid.finance Have you seen the full UHY FDW Service Suite Audit & Assurance Tax Advice & Compliance Insolvency Business Advisory Payroll Services Corporate Compliance Corporate Finance Forensic Accounting Request a Call Back From Our Team #2017 #Finance

Brexit Border This week we are discussing the border again, which is still the most topical issue around Brexit. The Irish border is a central sticking point in the current Brexit negotiations. With Brexit scheduled for March 2019, this is one of the key obstacles the UK must overcome before the EU will move on to post-Brexit trade talks. If the UK left the EU but remained in the single market and customs union, the border issue may not be so challenging. This issue has been complicated by the UK opting to leave Europe’s trading and free movement frameworks. This means that the Northern Ireland and Republic of Ireland border will be a dividing line between two separate regulatory and economic zones. Brussels believes a “soft” border can only be achieved if either the whole of the UK, or at least Northern Ireland, remains within the single market and customs union, or alternatively if the UK designs a new system that adheres to those regulations. Both Taoiseach Leo Varadkar and Foreign Affairs Minister Simon Coveney have said they want either the UK to remain in some form of customs union with the EU, or ensure there is no regulator divergence between Northern Ireland and the Republic. The Irish government has been in a state of unrest recently with the possibility of a snap election looming. Today Frances Fitzgerald resigned as Tánaiste. In a statement issued by the Taoiseach, Leo Varadkar Tuesday 28 November, he said: “This morning, Frances Fitzgerald came to me to offer her resignation as Tánaiste and Minister for Business, Enterprise and Innovation. She is doing so to avoid an unnecessary and early general election that could have left the country without a functioning government and Oireachtas for several months at a crucial time for Ireland. “Over the next few weeks and months, the Government will need to focus on the Brexit negotiations, both phase one and phase two. We have a Finance Bill and Appropriations Bill to enact. Legislation to pass for public sector pay restoration and pension and social welfare increases. We also have the important work of the committee on the Eighth Amendment to complete, paving the way for a referendum next year. All of these would fall in the event of a general election.” “The work of the Government and the parliament must not be interrupted during this important period.” “In the meantime, the Government will continue to work for the good of the country. We will focus on the challenge of Brexit, and deal with the many other problems we are facing. We will not be distracted as we strive to do what is in the best interests of all the people.” In just over two weeks’ time, the Taoiseach will attend a summit of EU leaders in Brussels to put forward Ireland’s case in the Brexit discussions. We will continue to follow the progress on the Brexit border issue and all Brexit matters and will bring you further updates when the information becomes available. Sources: Breakingnews.ie, Independent.ie , Irishtimes.com After last week’s UK Autumn Budget an extra £3 billion to prepare for Brexit over the next two years was announced. It is said that the money will make sure the government is ready on day one of exit. It will include funding to prepare the border, the future immigration system and new trade relationships. View our UHY Autumn Budget Highlights Video InterTradeIreland Event As InterTrade Ireland committee members, UHY Farrelly Dawe White Limited will be attending a major event in Dublin on the 5th of December. The event seeks to help Irish businesses prepare for the effects of Brexit. The event will cover ‘Brexit related issues’ like VAT, customs, tax, and rules of origin. Attendees will hear current insights from Vincent Power of A&L Goodbody and other guest speakers. The chance to discuss Brexit related issues and ways to overcome these issues, using the knowledge of industry experts, businesses and the complete InterTradeIrleand Brexit advisory Service make the 5th of December a valuable day in helping businesses gear up for Brexit. UHY FDW is continually monitoring developments throughout the Brexit process and will offer advice as the process becomes clearer. If you would like to discuss Brexit – how it might impact you and your business – or, if you require a ‘Brexit-ready health-check’ from one of our business advisors please contact us. Call +353 42 933 9955 Email info@fdw.ie Email Call Request a Call Back From Our Team #2017 #Brexit #UKNI