Dear Reader

Welcome to the summer issue of our newsletter. 

The Irish economic recovery is clearly taking hold, and as we enter the second half of 2017, we are very encouraged to see more of our clients now taking well analysed investment decisions and looking actively at ways to expand their businesses. There is certainly much more confidence in business. Many of our clients have put ‘innovation’ centre stage, and are becoming highly focused, and indeed investing more in sales and marketing (including digital marketing) to move forward.

What is Cyber Security?  As the name suggests, it is the protection measures we put in place to protect our technology and data from being accessed by unwanted third parties.

In today’s fast paced economy, technology and social media are evolving at a record level.  Because of the threat that we all face daily both on a personal and commercial basis, software, operating systems and data storage are now changing exponentially. 

From 1^st January 2019, all Irish employers will be required to submit an electronic file to Revenue whenever they pay their employees. The file will contain the details currently submitted as part of the end of year P35, however unlike the P35 which must be submitted once a year, this file must be submitted after each payroll period which in the case of most employers will be either weekly or monthly.

In an earlier edition of our tax alerts we mentioned the Revenue Commissioner’s ('Revenue') continued concentration on the tax affairs of landlords. In this article we will examine some of the main issues that we have noticed Revenue are focusing on.

From my experience Revenue seem to be targeting part time landlords who also have other income from either self-employment or being employed. Revenue’s assumption has been that some of these landlords are not being fully compliant in respect of declaring their rental profits. The major points of contention can be broken down as follows:

Revenue recently published an updated guide in relation to the tax treatment of the reimbursement of expenses of travel and subsistence to office holders and employees. The changes took effect on 1^st April 2017 and will be in place for a minimum duration of 3 years.
The key changes include:

Due to ongoing expansion we are seeking applications for a number of vacancies at present and are recruiting across all areas;

• Trainee Accountants
• Part-Qualified Accountants
• Qualified Accountants
• Tax Accountants – Qualified and Part-Qualified

If you or someone you know would like to find out more or apply for any of these vacancies contact Julie Murray at julie.murray@quintas.ie

Congratulations to Liam Maher and Daly Industrial Supply Company Limited

We would like to extend our warmest congratulations to two long standing clients of Quintas; Liam Maher of Sheila’s Hostel Limited and the Daly Family of Daly Industrial Supply Company Limited who were recently acknowledged by the outgoing Lord Mayor Cllr. Des Cahill.

Liam received his award in recognition of his exceptional commitment to the community and charity life of Cork, through his work with Cork Youth Orchestra, Sunday’s Well Rebels, the Rebel Plunge and St. Luke’s Male Voice Choir.

Daly Industrial Supply Company Limited received ‘The Lord Mayor’s Multi-Generational Family Business Award’ in honour of the contribution and dedication the Daly family have made to the City of Cork.

Congratulations to Stephen O’Halloran

Earlier this year Stephen O’Halloran passed his final exams with the Institute of Chartered Accountants Ireland.

Stephen is pictured below with Tim McCarthy, Managing Partner and Abina Kenneally, Partner of Quintas.

New Staff

Welcome to our new employees who have joined Quintas as trainee accountants under our 2017 Graduate Programme, namely Thomas Fitzgerald, Meadhbh O’Callaghan, Shane Fitzmaurice and Calum McLean.