Dear Reader,

Welcome to our Summer’18 Newsletter and summer it most certainly is. The fine weather has most people in a positive frame of mind. Undoubtedly the good weather provides a welcome boost for many businesses however it is worth sparing a thought for those not so lucky and whom are negatively impacted for reasons largely outside of their control.

In this edition we’ve tried to improvise a little and draw on the experiences of our colleague Niall O’Riordan who recently turned 80 and is still going strong. Throughout his 45 years in practice, Niall has seen his fair share of change in both our own profession as well as in the wider business community and he’s shared some of these experiences and stories in an interview with Paul O’Connell.

Quintas are delighted to announce that we have been awarded Platinum ACCA Approved Employer Status in recognition of our support provided to ACCA trainees working towards the ACCA Qualification.

Platinum is the most prestigious level of the ACCA Approved Employer Programme. To qualify for Platinum, employers must adhere to detailed requirements and maintain the highest standards to provide trainees with the most beneficial learning.

As the only CPA Firm in Ireland to hold this ACCA accreditation, this award recognises Quintas’s commitment to providing the highest standards in training, work experience and investment in overall trainee development.

Would you do it all again Niall? That was the question I recently posed to Niall O’Riordan, our “officially” retired ex-Partner who turned 80 years young earlier this year.

Despite his “officially” retired status, Niall still looks after his own small list of clients and is in the office most days apart from his “course day” every Monday on the fairways of a local golf club.

Niall’s enthusiasm and energy knows no bounds and he is held in great affection by the Quintas team as can be seen by the regular string of visitors knocking on his office door and the subsequent sound of laughter that quickly follows.

I recently took the opportunity to sit down with Niall to chat with him about his career in practice which spans 45 years and counting, having set up his own firm in 1973 along with his life-long friend Liam McGinn.

In this article we examine the help to buy scheme and how it can assist buyers in getting that all important deposit. We also examine the significant changes to the PAYE system which will take place in 2019 with the implementation of PAYE modernisation.

We also provide an overview of the earned income credit and how this has helped to level the playing field between the self-employed and employees. Finally, we look at the rent a room relief scheme which helps individuals to earn additional income free of tax.

Employers take note. A major shake up of pensions is on the way and is expected to be ready for roll out by 2022.

The Government has announced plans to introduce an auto-enrolment pension scheme in 2022 that will see workers without a private pension being automatically enrolled into a State-sponsored pension scheme, with the intention to have it funded by both the employee and the employer.

Welcome to our Personal Insolvency update.

This edition deals with the following which we hope is of interest to you:

1. Q&A YouTube Interview on Personal Insolvency and Bankruptcy – with David Sweeney of Sweeney Solicitors & myself;
2. How Poor Advice Can Cost You Your Home – Real Case Example;
3. What is Mortgage to Rent?
4. Abhaile Scheme – Free Financial & Legal Advice
5. Vulture Funds – Friend or Foe?
6. New Report on Resolving Non-Performing Loans in Ireland

I recall with a certain fondness that in the early summer of 1980 my mother, faced with the prospect of her son with 3 months of time on his hands, having just finished 1st year in secondary school, packed me off to my grandmother in Courtmacsherry with a list of chores as opposed to jobs to complete. They weren’t overly onerous just enough to keep me occupied and out of trouble, cut the grass, weed the garden, paint the walls, wash the windows.... The list seemed endless but in reality it was fair work for my £0.50 pocket money each week.

Coffee Morning in aid of Autism Assistance Dogs Ireland

A coffee morning was held recently in aid of the Autism Assistance Dogs Ireland. John Constantine brought along Tilly, a 2 month old puppy who is currently being trained as a 'Task Specific' assistance dog for a child with autism. Tilly now lives with Hilary, who joined us on the day, Tilly will be trained over the next 2 years and if successful will help improve the coping mechanisms of a child with autism who is struggling with their disability. It costs €15,000 and two years to train each dog to the standard that will make a lasting difference to each child. AADI receive no government funding.  All money is raised through the kindness and generosity of donors and fundraising events. Quintas were delighted to donate to such a wonderful cause. Pictured below with Tilly are John and Hilary along with Nicola and Don from Quintas.

Staff Announcement

We welcome back Denis Healy on his return to Quintas, Denis spent five years with Quintas, three of those as a trainee before spending a year in another practice, Denis is working with Pat Kearney and his team.

We also welcome to Erin O'Leary who joins as part of our 2018 Graduate Programme, Erin will be working with Abina Kenneally and her team in the Tax Department.

Cork City Marathon

Congratulations to Tim McCarthy and Mark Ryan who recently completed the Cork City Marathon, their 10th and 14th marathons respectively, with Tim achieving a personal best. Well done boys.

Galway Bay Swim

We would like to wish Tony Rafferty a long standing client of Quintas the very best of luck this July when he takes part in the 13km Galway Bay Swim. Tony is doing this for a great cause, Cancer Care West.