Retail Ireland warn retail sales figures act as a timely reminder not to take continued growth in the sector for granted Retail Ireland, the Ibec group that represents the sector, warned that the retail sales figures for July, released by the CSO on Monday , act as a timely reminder not to take continued growth in the sector for granted. Core retail sales in July decreased by 0.6% when compared with June, indicating a mid-summer dip in performance. However, the group said that broader retail trends remain positive, with sales increasing by 3.5% in the year to date. Retail Ireland Director Thomas Burke stated: “Despite a return to growth in retail sales values, core retail sales, excluding motor trades and bar sales, remain volatile. While there may be a perception that all is well again in the retail sector, much of the current growth is being driven by deep discounting in shops and ongoing sales activity. Such prolonged discounting, while necessary in the current uncertain consumer market, is undoubtedly draining profits for retailers. “This environment makes it difficult for retailers to take positive business investment decisions, and with continuing uncertainty likely over the coming months due to Brexit and currency fluctuations, there is now a real fear that retailers and consumers will adopt a wait and see approach to major spending decisions for the remainder of 2017 and beyond. Despite the dark clouds on the horizon, retailers remain hopeful that the current back to school period can inject some positivity into the market and enable a strong performance in the second half of the year.” Source: RetailIreland.ie UHY FDW and the Retail Sector UHY FDW and Brexit Request a Call Back From Our Team #2017 #BusinessinIreland #Retail

Tax Relief For Third-Level Fees Are you aware that you can claim tax relief on third-level fees for yourself or those on whose behalf you pay fees? You may be able to claim tax relief on tuition fees paid for approved: Undergraduate courses Postgraduate courses Information technology (IT) Foreign language courses Lists of courses and colleges approved for relief each year are published on the Revenue website. You can claim tax relief as long as you have actually paid the fees, either on your own behalf or on behalf of another person. You cannot claim tax relief on: Examination or administration fees Any part of the tuition fees that is met directly or indirectly by a grant, a scholarship or otherwise, e.g. where fees are reimbursed by an employer. Visit Citizensinformation.ie for more about tuition fees and the Student Contribution. Payments that qualify for tax relief The maximum amount of fees (including the Student Contribution) that can qualify for tax relief is €7,000 per person per course. Full-time student: There is no tax relief on the first €3,000 spent on tuition fees (including the Student Contribution) for the 2017/2018 academic year. Part-time student: There is no tax relief on the first €1,500 spent on tuition fees (including the Student Contribution) for the 2017/2018 academic year. More than one student: If you are claiming for more than one student, you will get full tax relief on tuition fees (including the Student Contribution) for the second or subsequent students. You can find examples of how the tuition fees tax relief works on the Revenue website. Courses that qualify for tax relief Undergraduate courses Tax relief is available for tuition fees paid for: Approved full-time and part-time undergraduate courses in both private and publicly funded third-level colleges in the State Approved full-time and part-time undergraduate courses in both private and publicly funded third-level colleges in any EU member state. This includes courses in medicine, veterinary medicine, dentistry and teacher training. Full-time and part-time undergraduate courses operated by colleges in any EU member state providing distance education in the State. Conditions for granting tax relief for undergraduate courses Courses must be for at least two years’ duration Colleges and courses within the State must be approved by the Department of Education and Skills Postgraduate courses Tax relief is available for tuition fees paid for: Approved postgraduate courses in private and publicly funded colleges in the State Postgraduate courses in a university or publicly funded college in another EU member state, including such colleges that provide distance education in the State Postgraduate courses in a university or publicly funded third-level college in non-EU countries. Conditions for granting tax relief for postgraduate courses Courses must be for at least one academic year but not more than four academic years in duration and must lead to a postgraduate award based on either a thesis or an examination. The person taking the course must already have a primary degree or an equivalent qualification. Information technology and foreign language courses Tax relief is available in respect of fees paid for training courses in information technology and foreign languages (other than postgraduate courses) if certain conditions are met: The course involved must be less than two years’ duration It must result in the awarding of a certificate of competence (and not just a certificate of attendance) The course must be approved by SOLAS. Details of schemes Revenue publishes detailed information about tax relief for tuition fees, covering tax relief for undergraduate and postgraduate courses and tax relief for information technology and foreign language courses. Rates of tax relief Tax relief is given at the standard rate of 20%. There is no limit on the number of individuals for whom you can claim. Paying fees in instalments If you pay fees in instalments and at least one instalment is paid in the tax year following the year your course started, then the relief for fees relating to that academic year may be granted either: in the tax year the course started, or the tax year in which the instalment was paid. However, relief will only be granted in respect of amounts actually paid and subject to the maximum relief available in that academic year. Undergraduate and postgraduate courses: The maximum amount of fees (including the Student Contribution) that can qualify for tax relief is €7,000 per person per course. Information technology and foreign language courses: The course fees paid must not be less than €315 and not more than €1,270 (these refer to the course fee and are not simply an amount per annum). Source: Citizensinformation.ie Careers with UHY FDW Request a Call Back From Our Team #2017 #Student #TAX

Next up in our ‘5 minutes with…’ series is one of our Audit Managers, Pauline McKevitt Pauline McKevitt is Audit Manager at UHY Farrelly Dawe White. She lives in Newry with her husband, Robbie, and their three sons: Shea, aged seven; and four-year-old twins Matthew and Dylan. Tell us about your career path to date. I attended the Sacred Heart Grammar School in Newry, where I achieved top grades in Maths, Physics and Accounting, and was presented with an award for achieving highest marks in the school in the Accounting exam. As my father is an accountant I grew up listening to him talking about his work, and it seemed so interesting and diverse. I enjoy working with figures and applying my mathematical and problem solving abilities to real-world scenarios which led me initially to pursue a career in engineering. I completed a BEng in Mechanical Engineering at Queens University, Belfast. I realised before I finished my Degree that Accounting was for me as having secured a summer job between second and third year at university in an accountancy firm in Newry, Fitzpatrick & Kearney, coincidentally this is also the firm where Alan Farrelly trained, I realised this was where my passion lay. I graduated from Queens in 2001 and was offered a training contract with the firm so I started working there full-time and qualified as a chartered accountant in 2006 and quickly rose to manager the following year. In July 2015 to develop my career further I was delighted to move to UHY FDW to take up a role as audit senior and within a year I was appointed Audit manager. My career path was winding but accountancy was without doubt the right choice for me. Are you where you expected to be in your career? Yes, as I had progressed to the highest rank in Fitzpatrick and Kearney, I felt the best way forward was to make the move to a larger more globally focused firm. I feel that as my children are now at school, I can now focus on developing my career further and look forward to the challenges ahead. What’s the best career advice you received? My parents always advised me to work hard and to strike a good work/life balance. If it gets to the stage where you’re not enjoying work and feeling a sense of achievement then it’s time to make a change. Based on your own experience, what are your top career tips? Work hard; listen to advice from others; learn something new every day; and try to stay ahead as accounting standards and legislation are continually changing. Experience counts for a lot. Always keep an open mind and be enthusiastic and willing to learn. How would you define your work style, and how has this evolved over the years? My work style is to be reliable and dependable in meeting objectives and to put 100% effort into any task set. Over the years my work style has evolved to adapt to technological advances. There is much more reliance on electronic communication now than when I initially started working, clients can email in books and records and we can get instant access to them, this has had the effect of creating a fast paced environment where a faster turnaround time is expected. In terms of managing teams and individuals, what are your insights? When managing a team it is important to delegate tasks to the team member with the appropriate level of training and skill set. By monitoring the team I can see particular areas where an individual may be struggling and need additional help and can focus attention on developing their knowledge and understanding in that area. Constructive criticism can be used as a motivational tool. Sometimes the best way to learn is to be thrown in at the deep end. Give feedback to team members on work produced, encouragement and praise where praise is due can have such a positive impact on the team. What about communication and negotiating the typical ups and downs of working life? Communication is extremely important. Everything runs more smoothly when everyone is on the same page. Keep lines of communication open, encourage questions and be prepared to listen to other opinions. Has networking played an important part in your career? To date networking hasn’t played a big role as I was in my previous job for 14 years and moved to UHY FDW two years ago. When I was looking for a new job, I applied through a recruitment agency. I hadn’t considered working in Dundalk as my training was Northern Ireland-based but it has turned out to be a very good move in progressing and moving forward in my career. What do you like most about your career? I enjoy the challenges and the variety of working every day in an accountancy office, the range of clients is so diverse, you could be working on a sole traders accounts one day and then working on the large audit of a group of companies the next. If you had to choose another career tomorrow, what would it be and why? I really enjoy keeping fit and running, I find it a great stress reliever, so if I had to choose another career I would like to be a personal trainer. I ran a half marathon in Newry in May and I’m doing the Belfast one in September. I also do various 5km and 10km races throughout the year. Contact Pauline McKevitt Email Call Pauline McKevitt Request a Call Back From Our Team #2017 #5MinutesWithourTeam #UHYFDWTeam

Could you be Ireland’s Best Young Entrepreneur? Young entrepreneurs have just five weeks left to try and win a share of a €2m investment fund and business supports. If you have a business or business idea you can apply for Ireland’s Best Young Entrepreneur (IBYE) Competition 2018 until September 29. Successful entrants must be able to demonstrate real commercial potential for their business or business idea. The IBYE Competition 2018 could be the first step on the way to commercialise your business idea or expand your existing business. If you are aged between 18 and 35 enter IBYE today for your chance to win a share of the €50,000 county investment fund through your Local Enterprise Office (LEO). There is a €100,000 investment fund available for the overall national category winners. Applications can be made online; it’s free to enter; and you could also win a place at a Business Bootcamp. Last year, more than 180 young entrepreneurs won investment funding of between €3,000 and €15,000 each for their business through IBYE. A 26-year-old physiotherapist from Dún Laoghaire-Rathdown who developed an app that is transforming the lives of thousands of people with Parkinson’s disease all over the world is Ireland’s Best Young Entrepreneur (IBYE) 2017. Ciara Clancy of Beats Medical won a €45,000 investment fund through the Local Enterprise Offices after winning the title at this year’s IBYE national final. For more information and to apply online click here Careers with UHY FDW Request a Call Back From Our Team #2017 #Events #Student

What to do now you have received your CAO offer? Today Leaving Cert students around Ireland found out if they received a CAO offer for the course of their choice. Applicants have been able to view their offers since 6am this morning (21 August). What is the next step? If you received a CAO offer in Round 1 for your first choice, congratulations! If you didn’t get your first-choice offer, but you did receive an offer, congratulations! You must accept or decline your offer by 5.15pm on 28 August. Remember, if you do not accept this offer, it will lapse. Once your offer is accepted, it is time to start planning your next educational adventure. Connect with the student’s union of your new college through social media, as these channels can be great sources of information on accommodation, student welfare, student finance, etc. If you feel disappointed and think you deserved a better result, you may have a case to get one or more Leaving Certificate papers rechecked. Should I accept my CAO offer? If you didn’t get your first preference and you’re unsure whether to accept your second choice or lower offer, you have some time before you make your final decision. You can find out more in this article from Silicon Republic. Visit the Irish Times for some great advice and resources on their helpdesk Also, see below this useful infographic from CAO. There are also other routes you can take to further your education. CPA – School Leavers School leavers can bypass college and the CAO points system and go directly to study CPA and begin their career as a professional accountant. Students can work and train simultaneously, allowing them to earn money and complete their training while they pursue their qualification. Many students complete their Leaving Certificate and go on to do a degree in Accounting and Finance or Business Studies in college and then study for their professional accountancy qualification. However as CPA Ireland recognises that college is not a viable option for everyone, they provide a professional accountancy qualification that is open to school leavers once they complete their Leaving Certificate, subject to meeting course entry requirements. Find out more Careers with UHY FDW Request a Call Back From Our Team #2017 #Student

NIFX stock finance lending solution gives you flexible credit to finance international and domestic purchases, so you never miss an opportunity to grow your business. Not only do NIFX source the finance directly, they can also send your supplier the payment, quickly and securely, in their local currency. Benefits: Flexible Lending Pay As You Go Ease Of Use Enhanced Supplier Relationships No Upfront Fees Up to 150 Days Repayment Direct Supplier Payments NIFX offer Stock Finance to assist businesses in the following situations: To bridge a cash flow shortfall Growing businesses Businesses with high stock levels To avail of early settlement discounts Economies of scale benefits Contingency funding NIFX stock finance lending solution has no fees to set up or maintain, and no unnecessary admin charges. You can borrow for up to 150 days and repay in full at any point during the fixed term of the agreement, with no early repayment fees. You only pay interest on the amount of finance you use, when you use it. Download their brochure here Contact NIFX using code FDW17 to avail of priority processing. For further information and to apply for finance, please contact: Stephen O’Hare NIFX Ltd 8 Ballynahinch St Hillsborough Co. Down BT26 6LB +44 (0)28 9268 3036 stephen@nifx.co.uk 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

Francois van Heerden, Business Development visit to UHY London Our Business Development & Client Relations Manager, Francois van Heerden, recently visited the UHY Executive Office and UHY Hacker Young Office in London to gain some valuable international experience. Working with an exceptionally energetic & progressive team of committed professionals is an honour and real privilege. This not only applies to UHY FDW, but the wider UHY International network. This was of the one of the many reasons I wanted to join the UHY FDW team, and visit other offices within our Global network. I have just returned from my visits to the UHY Executive Office and UHY Hacker Young Office in London. Having recently joined UHY FDW, I wanted to learn more about the UHY network and how the International offices operate as a team. Also having moved to Ireland from South Africa in June, it was a great opportunity for myself and my family to have a short break and explore London. UHY FDW has been a member of the UHY International network since 2008. UHY, who celebrated its 30th anniversary in 2016, is a network of independent accounting and consulting firms with offices in over 325 major business centres across more than 95 countries and is currently ranked 16th among the largest international audit, accounting, tax and consultancy networks by fee income (source: International Accounting Bulletin, January 2017). As UHY FDW has been the Irish member of the UHY network for almost 10 years, it is clear the UHY values run deep within the firm. Working together well is something that differentiates UHY from other networks. Coupled with a strong line on quality and meeting international standards, member firms create the UHY brand experience – a high quality service wherever clients need to operate. Our work as a network has never been more important as we deal with the effects of Brexit. There is a huge amount of uncertainty surrounding Brexit and as a network we are advising our clients, and anyone else who asks us, that they should actively take whatever initial steps they can now to minimise any potential disruption to their businesses. You can read more about our thoughts on Brexit in our August 2017 Brexit Update During my meeting with Dominique Maeremans, the Marketing & Business Development Manager for UHY International. We discussed Business Development trends in UHY International & UHY Farrelly Dawe White, including, utilizing technology within BD Departments, Cross border client engagement opportunities; as well as quality delivery and UHY Branding. I also met Rhys Madoc, Executive Director of UHY International. We discussed BD in the Global network and our (being UHY International, Global network) aim to ensure a close working relationship between all member firms within the Global network. This week I was back in London visiting the UHY Hacker Young London Office for a workshop on Business Development & Marketing. I met up with Zoe Paradine and Georgina Daly from UHY Hacker Young, UK offices in our Global network. We discussed our BD Vision & Strategic Plan, BD Tools & Software, Client Relations and creating an “Excellent Experience” for clients and staff. Exciting new networking avenues were also on the agenda. Visit our UHY International page or the UHY website Learn more about UHY from our publications Why UHY? Capability Statement 2017 UHY Global Issue 4 Contact Francois van Heerden Email Call Francois van Heerden Request a Call Back From Our Team UHY is a network of independent accounting and consulting firms with offices in over 325 major business centres across more than 95 countries. Our services and teams are tailored to suit the culture of each client including publicly listed corporations, large and medium-sized companies, privately owned businesses, not-for-profit and public organisations. The following data was reported for our network as of January 2017: Countries: 99 Offices: 325 Total staff: 7,852 UHY is currently ranked 16th among the largest international audit, accounting, tax and consultancy networks by fee income (source: International Accounting Bulletin, January 2017). www.uhy.com #2017 #UHYFDWTeam #UKNI

Continuing our ‘5 minutes with…’ series we spoke to one of our Tax Managers, Jane Jackson Jane Jackson is Tax Manager at UHY Farrelly Dawe White. Originally from England, Jane is an AITI Chartered Tax Adviser (CTA) and has an LLB in European Law and French. She moved to Ireland in 2004 and now lives in Mornington, Co Meath with her husband Roy; their four-year-old daughter, Susanna; their rescue dog, a Cairn Terrier cross called ‘Fitz’ and four hens. In her spare time Jane does yoga and is a regular gym-goer. Tell us about your career path to date. I grew up in Rochdale, Greater Manchester and went to Bury Grammar School for Girls in a nearby town. Victoria Wood, the late English comedian and actress went to the same school. I completed an LLB in European Law and French at the University of Lancaster and also spent a year at the University in Nancy studying French Law. I worked at Deloittes for three years as a Trainee Tax Consultant. I saw the advertisement for the job in a graduate magazine and I never thought I’d get it. In fact, I only went to the interview because they promised to reimburse my train ticket! I moved to Ireland in March 2004 and started working as a Senior Tax Assistant for Browne & Murphy in Dublin 2. I was with Browne & Murphy for four years. In 2008, I moved to Haydon Chartered Accountants, a Balbriggan-based firm which also had a Dublin office. In December 2010, I transferred to Haydon’s Dublin office. I joined UHY FDW as Tax Manager in June 2014. Are you where you expected to be in your career? More or less, yes. My father was in the legal profession and I originally planned to become a solicitor but I wanted to start earning so I decided not to go to law school. When I graduated from University, I took up a temporary position in Health & Safety at Railtrack in 1997 and worked there for a year. Then I got a job as a Trainee Tax Consultant with Deloittes in Crawley, West Sussex. There is a lot of law in tax consultancy so my law degree has given me an excellent grounding for my career and my current role as a tax manager. Why did you decide to move to Ireland? My husband, Roy, is half Irish and he started working in Ireland in 2004. Tax in the UK is very similar to tax in Ireland so I could transfer my skills over here fairly easily and so it made sense for us to move at the time. I’ve always been an animal lover and so is Roy. We’re very interested in animal welfare. When we moved to Ireland we immediately got involved in animal welfare charities. After I had my daughter, Susie, in 2013, my charity work had to take a little bit of a back seat but I still do a lot of administrative volunteer work for Westie Rescue. What’s the best career advice you received? Work as hard as you can without killing yourself and be true to yourself at all times. Don’t get stonewalled. Based on your own experience, what are your top career tips? Embrace change, always work for a company that will help you develop new skills and provide opportunities to put them into practice. How would you define your work style, and how has this evolved over the years? Diligent, logical, analytical and empathetic and I’m getting better at it as I go along. In terms of managing teams and individuals, what are your insights? True teamwork used properly can be so beneficial, effective and uplifting. What about communication and negotiating the typical ups and downs of working life? Poor communication is counterproductive. So much time is wasted trying to find information that should be much more freely given. The information often exists in the company, but it’s so hard to find it sometimes. Has networking played an important part in your career? Now and again. It can be a great tool. What do you like most about your career? I enjoy interacting with clients and meeting people. Every day is different. I also like the challenges I encounter. I like problem-solving. Give me a problem and I’ll try to solve it. If you had to choose another career tomorrow, what would it be and why? Working with animals or with young children. My own animals and child have been so important and so precious to me – it would be lovely to have that as a career. Contact Jane Jackson Email Call Jane Jackson Request a Call Back From Our Team #2017 #5MinutesWithourTeam #UHYFDWTeam

Continuing our ‘5 minutes with…’ series we spoke to Director, Michael Bellew Michael Bellew is a director at Dundalk based UHY Farrelly Dawe White Limited. Michael became a partner in 2001 after joining the firm in 1996. He is a Fellow of the Association of Chartered Certified Accountants and specialises in audit services for our clients who range from SME’s right up to multi million euro international businesses. Michael also has considerable experience in corporate finance and business planning and works closely with clients from a wide range of sectors including manufacturing and software and technology. Michael is married to Lisa and has three sons, Jack (16), Ciarán (7), and Ruairí (5). Tell us about your career path to date. I attended the Christian Brothers (now Coláiste Rís) secondary school in Dundalk. I literally had no idea what career I wanted to pursue after completing my Leaving Certificate. I attended college briefly in Galway and had considered perhaps becoming a teacher, but that wasn’t for me. I returned to Dundalk and ended up working in Customs Clearance on the Newry Road for a couple of years. These were agents who processed the customs paperwork for anyone importing goods into the State. At that time goods imported into the State were subject to VAT at point of entry as well as Excise Duties and Customs Duties, dependent on the nature of the goods. We may well be returning to an element of that if the formalities of Brexit are not properly planned out. My father, Tom, was a politician but had also been an accountant. On one occasion, he returned from a trip to London with two big accounting books and suggested that I might be interested in studying accountancy at night, which many people were doing at the time. I read the books and it did spark an interest with me despite never having studied accountancy or any business related subjects at school. I got a job at Kirk & Associates, an accountancy practice in Dundalk in November 1989. A month later, Alan Farrelly and Kevin Dawe set up what is now UHY FDW on Jocelyn Street, close to where I was based. Despite working in close proximity to one another, I didn’t formally meet Alan until we both attended a wedding at the Nuremore Hotel in late 1995. In the spring of 1996, Alan contacted me and asked whether I would be interested in having a chat. By that stage, the firm had moved to premises on River Lane. Alan made me an offer I couldn’t refuse and I’ve been with the firm ever since. How has the firm progressed since you joined? After I joined the firm in 1996, I worked very closely with Alan and was appointed office manager very soon after joining the practice. In the early days, we were on the road a lot with clients who were in a strong growth phase, dealing with new set-ups and mergers and acquisitions. The firm was in a growth phase itself, expanding with clients and employees alike. We travelled the length and breadth of the country and across the water at the time. Due to our own growth, we needed to find new premises and in March 2001, we moved the business to our current location at Blackthorn Business Park in March 2001 and acquired the practice of Donovan Reilly at that time. Continual growth of the firm and of our clients led us to seeking an international affiliation. In 2010, we became part of the UHY global network. It has been a very good move for us, has given us a global reach, and has allowed us to provide greater service offerings to our clients. What do you like most about your career? I like the variety; every day brings new challenges. In my role, I primarily deal with the firm’s large audit assignments together with responsibility for all compliance and legal matters of the practice. I am also involved in litigation support and forensic accounting services in which I deal with many family law cases arising out of separation and divorce, shareholder disputes, loss of earnings claims. This is very interesting and challenging work, with a lot of time spent dealing with lawyers and attending court. What’s the best career advice you received? There was little or no career advice at school in my day, thankfully this has improved since then. On reflection, the best advice I got in this regard was from a client I worked with many years ago during a car journey down to Athy. His advice to me was if I was ever to get into partnership with anyone in business to choose my partners wisely. Based on your own experience, what are your top career tips? You’re always learning. If you’re not learning, you’re finished. Technology, legislation, and how clients do business are constantly changing. My advice to people just starting out in accountancy is to be committed and consistent in your approach to your studies. People think professional exams are an easy ride and they get a rude awakening when they experience the reality. I would also recommend that people have an outlet outside of work to ensure they have a break from the combined pressures of job and studies. It’s also good to ask plenty of questions, we’re all constantly learning. Don’t think because you have a Masters in Accounting that you know it all, real world scenarios are completely different to textbook situations. Never be afraid to ask questions or seek advice. How would you define your work style, and how has this evolved over the years? I dress smart, I work smart, and those that know me, know that I don’t suffer fools gladly. I work until the job is done and be it right or wrong, I expect the same level of commitment across the board. In terms of managing teams and individuals, what are your insights? During my brief involvement in competitive rowing at college, (something I retained a keen interest in to this day), every member of the team played an important role in the boat. If any one member was out of sync with the rest of the crew then the boat didn’t function properly. It’s no different in managing teams and individuals, every individual plays an essential part in the team and a good manager knows where to place the team players to maximise the output most efficiently. What about communication and negotiating the typical ups and downs of working life? Communication can be frustrating for people. It’s best if everyone knows what’s expected and required of them. Poor communication and lack of planning can lead to problems that could easily be avoided. Has networking played an important part in your career? Networking is about building real relationships with people. It’s important to nurture relationships with existing clients and strangers alike; you never know where your next client is going to come from. If you had to choose another career tomorrow, what would it be and why? I enjoy music and going to concerts and love to play guitar so I would be a lead guitarist and singer in a rock band, for obvious reasons.; that’s the dream! Alternatively, I would be a corporate lawyer in New York with the cut ad thrust of business in New York. I love New York, the buzz, the hustle and bustle, there’s just so much happening all the time. I’ve always had an interest in the law and have worked on various corporate cases and schemes involving numerous lawyers both here and abroad. My other interests include cars, motorbikes, machinery and DIY. If I could choose another career tomorrow, whatever it would be I’d certainly make sure it was one that would allow me to be driving a 1969 yellow Lamborghini Miura. Contact Michael Bellew Email Call Michael Bellew Check out our last ‘5 minutes with…’ post starring Andrew Carroll Watch our video where Andrew discusses a career with UHY FDW Request a Call Back From Our Team #2017 #5MinutesWithourTeam #UHYFDWTeam

Outsource Your Payroll. Reap The Benefits Now. Is your business ready for the big payroll changes that are set to come into effect in Ireland on January 1, 2019? If you’re not compliant with PAYE Modernisation, it might be time to outsource payroll so that you meet Revenue’s requirements and avoid penalties. Avoid the potential financial cost and stress by reading our brief guide to the benefits of outsourcing payroll. There are many benefits to outsourcing payroll including cost-savings, increased productivity, expertise, compliance, continuity and confidentiality. If you haven’t yet made the decision to outsource payroll, you’re probably considering making the switch. Here is our brief guide to the benefits to outsourcing which will leave you wondering why you waited until now to improve efficiency and increase your peace of mind. 1. COST It can often be expensive to employ staff with the necessary training to operate a payroll system. If you calculate the hours your employees spend on payroll-related activities, plus payroll software costs, training costs, printers, printing and distributing payslips, creating tax documents etc, you could be surprised by the result when you compare that amount to the cost a payroll service provider can offer. In addition to cost-savings, outsourcing payroll allows your staff to concentrate on more essential tasks. 2. EXPERTISE Payroll mistakes can be painful, upsetting and stressful. A good payroll service provider is far less likely to make a serious error than your in-house staff, as you are paying them for their expertise, knowledge and finely-tuned checking procedures they have in place. 3. COMPLIANCE If you outsource payroll, you can focus on running your business knowing your payroll obligations are dealt with correctly, efficiently and lawfully. PAYE Modernisation is due to come into effect in Ireland on January 1, 2019. Will your business be ready? According to Revenue you must ensure that the following measures are in place: • you have the right PPSN for all your employees • you have received an up to date tax credit certificate for all your employees and that you are applying the most recent one • all your employees are registered with Revenue. A good payroll service provider will know all the ins and outs of payroll-related tax laws and latest government legislation. 4. CONTINUITY With a payroll service, output, speed and quality won’t vary in accordance with holidays and sickness and you avoid a logistical nightmare on payday. 5. CONFIDENTIALITY If you outsource payroll, you are guaranteed total discretion and confidentiality. Your data is fully secure and backed up, and measures for detecting fraud are in place. #2017 #Payroll #UHYFDWTeam

Shop Front Improvement Grant Scheme Do you own a town centre business in one of Louth’s three major urban areas? Don’t miss your chance to avail of a local authority grant to update your shop or business front in Dundalk, Ardee and Drogheda. How a business or shop looks is one of the most important elements in determining the character, quality and perception of your business and our towns’ streets. It is hoped to promote good quality shop and business fronts through this initiative to benefit both your business and our towns. The Shop Front Improvement Scheme has been extended by Louth County Council (LCC) throughout 2017. First launched in 2016, the scheme is part of the LCC’s suite of business incentives. If this is of interest, our team can assist you with the application process for this grant and determine whether you are eligible. Call Thomas today or visit our website to view our full suite of services. Call +353 42 933 9955 Email info@fdw.ie Email      Call Download our information sheet here #2017 #BusinessinIreland #GrantScheme

The Companies (Accounting) Act 2017 It’s what everyone in accounting is talking about. The Companies (Accounting) Act 2017 is bringing the Companies Act 2014 into line with new EU accounting rules. Stay ahead of the competition with our brief guide to these important changes. The Companies (Accounting) Act was signed into law by the President of Ireland on May 17. It was enacted by the end of May and a subsequent commencement order (SI 246 of 2017) had the effect of bringing most of the provisions of the 2017 Act into force on June 9. Section 80, which deals with certain filing and registration requirements for external companies), will commence at a later date. Under the 2017 Act, all unlimited foreign incorporated bodies that are subsidiaries of limited liability bodies corporate, with a branch in Ireland, will be subject to certain registration and filing obligations. The main purpose of the 2017 Act is to transpose Directive 2013/34/EU on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings into Irish law. It also amends the Companies Act 2014. The Act amends or inserts a number of areas in the Companies Act 2014, principally Part 6 of the Act which deals with financial statements. Section 15 amends Part 6 of the Companies Act 2014 by inserting a new Chapter 1A (sections 280A – 280H) which provides for the criteria for companies to qualify as “small”, “medium” or “large”, and introduces the new “micro” category of company. Micro companies are very small companies and can qualify for abridgement and audit exemptions if eligible. It is hoped that the 2017 Act will reduce cost and simplify the procedure related to the preparation of financial statements for companies. The 2017 Act also made a number of amendments to the Companies Act unrelated to the implementation of the Directive and addresses certain anomalies in the Companies Act. Finally and in relation to non-filing structures, Section 1274 of the 2014 Act set out that unlimited companies must file financial statements where they fell under the category of a designated type company (Designated ULC). Irish unlimited companies where at least one member was unlimited and non EEA were not designated ULCs, therefore were exempt from filing financial statements with the Companies Registration Office (“CRO”) and could avail of filing a Special Auditors’ Report. Section 76 of the 2017 Act amends Section 1274 of the 2014 Act, whereby these previously “non-designated” companies, now fall under the remit of a designated company. This will have a hugely significant impact existing non-filing structures. The 2017 Act makes it mandatory for Irish unlimited companies, (which are part of a non-filing structure, and which were previously exempt from filing financial statements), to file their financial statements with the CRO. If you would like to discuss how UHYFDW can help you to comply with the Companies (Accounting) Act 2017, please contact our Corporate Compliance Manager, Richard Windrum. Alternatively, you can speak to your usual UHYFDW contact, or complete the contact form on www.fdw.ie. Call +353 42 933 9955 Email info@fdw.ie Email    Call #2017 #Act #BusinessAdvisory #BusinessinIreland