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Temporary COVID-19 Wage Subsidy Scheme

The COVID-19 Wage Subsidy is a scheme which allow employers to pay their employees during the current pandemic.

Employers can be refunded up to 85 percent of an employee’s wages. Reimbursement will be made within two days after receipt of payroll submission and the employer must be able to demonstrate, to the satisfaction of revenue a minimum of a 25% decline in turnover.

The employer is expected to make their best efforts to maintain as close to 100% of normal income as possible for the subsidised period.

Click here for more details


COVID-19 Pandemic Unemployment Payment (Employees and Self-Employed)

The COVID-19 Pandemic Unemployment Payment is a payment of €350 per week which is given in a pay check template. It is available to all employees and the self-employed who have lost their job due to the Covid-19 pandemic.

The Covid-19 Pandemic Unemployment Payment will be in place for the duration of the crisis. If you are planning to buy a magnet for you business check the info from

Click here for an application form


Local Enterprise Office Supports 

Business Continuity Voucher worth up to €2,500 

If you are a business employing up to 50 staff, this voucher is offered to you for third-party help with developing short and long-term strategies to deal with the Covid-19 pandemic. This is a fantastic opportunity for your business in these times, helping you to continue trading throughout the crisis and playing online casino no deposit bonus games. For additional insight about online casinos, you can also explore valuable information about the Bingo industry. Additionally, there are some exclusive no deposit bonus at Casino Secret. Check them out for more insights. If you’re interested in enhancing your online gaming experience, consider exploring the world of casino bonuses online. See more here for more online casino bonuses that you may want to try.

Click here for application form


Online Trading Voucher worth up to €2,500


Grow your business online with your Local Enterprise Office (LEO) Online Trading Voucher

Full guide to LEO supports 


Government supports for impacted businesses

Guide to Governments supports

Latest information on Revenue supports & tax measures

COVID-19 information and advice for taxpayers and agents

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Privacy Notice

Posted in Useful Information by admin - Jun 29 2018

P.A. McCormack & Co.

Chartered Certified Accountants & Statutory Auditors



1. Definitions

In this Privacy Notice the following definitions shall apply:

“Client Personal Data” means any personal data provided to us by you, or on your behalf, for the purpose of providing our services to you, pursuant to our engagement letter with you;

“Controller” means—

  1. a competent authority[1] that, whether alone or jointly with others, determines the purposes and means of the processing of personal data, or
  2. where the purposes and means of the processing of personal data are determined by the law of the European Union or otherwise by the law of the State, a controller nominated—
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(i) by that law, or

(ii) in accordance with criteria specified in that law;

“Data Protection Legislation” means all applicable privacy and data protection legislation and regulations including the General Data Protection Regulation EU 2016/679 as supplemented by the Data Protection Act 2018 together with other laws which relate to privacy and electronic communications;

“Data Subject” means an individual to whom personal data relate;

“Joint Controller” means, where 2 or more controllers jointly determine the purposes and means of the processing of personal data (referred to as “joint controllers” per the Data Protection Bill 2018), they shall determine their respective responsibilities for compliance in a transparent manner by means of an agreement in writing between them, save in so far as the said responsibilities are determined by the law of the European Union or the law of the State.

“Personal Data” means information relating to—

  1. an identified living individual, or
  2. a living individual who can be identified from the data, directly or indirectly, in particular by reference to—
    • an identifier such as a name, an identification number, location data or an online identifier, or
    • one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of the individual;

“Processing” of or in relation to personal data, means an operation or a set of operations that is performed on personal data or on sets of personal data, whether or not by automated means, including—

  1. the collection, recording, organisation, structuring or storing of the data,
  2. the adaptation or alteration of the data,
  3. the retrieval, consultation or use of the data,
  4. the disclosure of the data by their transmission, dissemination or otherwise
  5. making the data available,
  6. the alignment or combination of the data, or
  7. the restriction, erasure or destruction of the data;

“Processor” means an individual who, or a legal person, public authority, agency or other body that, processes personal data on behalf of a controller, but does not include an employee of a controller who processes such data in the course of his or her employment;

“Special Categories of Personal Data” means—

  1. personal data revealing—
  • the racial or ethnic origin of the data subject,
  • the political opinions or the religious or philosophical beliefs of the data subject, or
  • whether the data subject is a member of a trade union,
  1. genetic data,
  2. biometric data for the purposes of uniquely identifying an individual,
  3. data concerning health, or
  4. personal data concerning an individual’s sex life or sexual orientation.


  1. Who We Are

This privacy notice provides you with details of who we are and how we collect and process your personal data.

This is the privacy statement of AATS Limited (trading as P.A. McCormack & Co. Statutory Auditors and Accountants) whose place of business and registered address are Flemington House, Brown Street, Carlow and 30 Kenilworth Park, Dublin 6w:

P.A. McCormack & Co., Statutory Auditors and Accountants “the Firm” (referred to as “we”, “us” or “our” in this privacy notice), is a data controller due to our professional obligations which oblige us to take responsibility for your personal data.

The client is also a Data Controller (referred to as “the Client”, “You”, or “Yours” in this privacy notice).

P.A. McCormack & Co. and the client are not Joint Controllers.

Our email address is:

Our postal address is: Flemington House, Brown Street, Carlow, Ireland.

Our firm’s GDPR owner is AATS Limited.

We are not required to appoint a Data Protection Officer. If you have any questions about this privacy notice, including any requirements to exercise your legal rights please contact Peter McCormack.

We have appointed a Data Protection Officer who is in charge of privacy related matters for us. If you have any questions about this privacy policy, please contact the Data Protection Officer using the details set out below.

Contact Details – Peter McCormack

Our full details are:

Full name of legal entity: AATS Limited T/A P.A. McCormack & Co.

Name of Data Protection Officer: Peter McCormack

Email address:

Postal address: Flemington House, Brown Street, Carlow, Ireland.

Telephone number: 00353 599130422

It is very important that the information we hold about you is accurate and up to date. Please let us know if at any time your personal information changes by emailing us at




Personal data means any information capable of identifying an individual. It does not include anonymised data.

For the purposes of this privacy notice the firm provides the following services:

  • Accounts Preparation
  • Bookkeeping
  • Audit Assignments
  • Taxation compliance and advisory services
  • Payroll Services
  • Financial and Banking advisory
  • Insolvency advisory

You shall only disclose client personal data to us where:

  • you have provided the necessary information to the relevant data subjects regarding its use (and you may use or refer to our privacy notice available at for this purpose);
  • you have a lawful basis upon which to do so, which, in the absence of any other lawful basis, shall be with the relevant data subject’s consent; and
  • you have complied with the necessary requirements under the data protection legislation to enable you to do so.

We shall only process your personal data:

  • In order to provide our services to you and perform any other obligations in accordance with our engagement with you;
  • In order to comply with our legal or regulatory obligations; and
  • Where it is necessary for the purposes of our legitimate interests and those interests are not over ridden by the data subjects’ own privacy rights. Our privacy notice (available at contains further details as to how we may process client personal data.

We may process the following categories of personal data about you:

  • Engagement Data includes any data which you may provide to us in order to assess whether we are in a position to act for you in relation the agreed services, and, in the event that we are and are willing to do so, the information we need for money laundering identification purposes in advance of formally agreeing to provide the agreed services. It also includes communication and other data generated in the course of providing the agreed services for which we have been engaged.  We process this data to supply our services and to act for you as your auditor/accountant.  Our lawful grounds for processing this data is the performance of a contract to which you are party, providing you with advice in relation to providing the agreed services which we have been engaged and acting for you in connection with that engaged service.  We will only ever process your engagement data for the purpose for which we have been retained, on the basis which you instruct us to act on your behalf on that service and to retain a record of the engagement data to comply with our legal and Association compliance obligations
  • Communication Data includes any communication that you send to us whether that be through any contact forms on our website, through email, text, social media messaging, social media posting or any other communication that you may send us. We process this data for the purposes of communicating with you, for record keeping and for the establishment, pursuit or defence of legal claims. Our lawful ground for this processing is our legitimate interests which in this case are to reply to communications sent to us, to keep records and to provide the agreed services for which we have been engaged.
  • Personal Contact Data includes data such as your name, title, address, email address, phone number and contact details. We process this data to communicate with you, for record keeping and for the establishment, pursuit or defence of legal claims. Our lawful ground for this processing is our legitimate interests which in this case are to reply to communications sent to us, to keep records, to grow our business and remain in contact with you and to provide the agreed services for which we have been engaged.
  • Marketing Data includes data about your preferences in receiving marketing from us and your communication preferences. We process this data, in part, to enable you to partake in our promotions and offers through the sites like, to deliver relevant website content and advertisements to you, and to measure or understand the effectiveness of this advertising. Our lawful ground for this processing is our legitimate interests, which in this case are to study how customers use our products/services, to develop them, to grow our business, and to decide our marketing strategy. Additionally, we also analyze the cost of advertising on billboards to make informed decisions about our advertising endeavors. For optimizing online visibility and enhancing your marketing strategies, consider collaborating with the top Chicago SEO companies in 2023. Also, if you want to know the price of outdoor advertising, check out this site at
  • Website Data includes data that you may provide to us if you visit our website. If you wish to see our Privacy Notice in relation to Website Data please go to

 Special Categories of Data

Special Categories of Data refers to data that includes details about your race or ethnicity, religious or philosophical beliefs, sex life, sexual orientation, political opinions, trade union membership, information about your health and genetic and biometric data and information about criminal convictions and offences.

We do not collect the above Special Categories of Data about you.

We need to collect the following Special Categories of Data in order to provide the agreed services for which we have been engaged. (e.g. some data regarding employees, their spouses, children and dependent relatives may be processed for the purposes of calculating personal tax credits and allowances. Details of trade union membership of employees may be processed in order to calculate deductions from payroll.)

If your Engagement Data includes special categories of data such as medical or health data we will only process such special categories of data for the purposes of providing you with compliance advice and acting for you as your accountant/auditor in connection with the agreed engaged services. Additionally, we can provide guidance on the best CBD for Anxiety.

Where we are required to collect personal data by law, or under the terms of the contract between us and you do not provide us with that data when requested, we may not be able to perform the agreed service for which we have been engaged (for example, to continue to act for you in Revenue enquiries). If you don’t provide us with the requested data, we may have to cease to act for you but if we do, we will notify you at the time.

We will only use your personal data for a purpose it was collected for or a reasonably compatible purpose if necessary.  In case we need to use your details for an unrelated new purpose we will let you know and explain the legal grounds for processing.

We may process your personal data without your knowledge or consent where this is required or permitted by law.

We do not carry out automated decision making or any type of automated profiling.



We may collect data about you by you providing the data directly to us (for example by filling in forms on our website or in our offices or by sending us emails and correspondence by post or by speaking with us on the telephone and in meetings).  We may collect data from third parties who you authorise us to obtain the data from on your behalf (for example the Revenue Commissioners, the Companies Registration Office, financial institutions or another professional or adviser).


  1. Marketing Communications


Our lawful ground of processing your personal data to send you marketing communications is either by your consent or our legitimate interests (namely to grow our business).

Under the Data Protection Legislation, we may send you electronic marketing communications from us if (i) you made a purchase or asked for information from us about our goods or services or (ii) you agreed to receive marketing communications and in each case you have not opted out of receiving such communications since.

We will not share your personal data with any third party for their own marketing purposes without your express consent.

You can request us to stop sending you electronic marketing messages at any time by following the opt-out links on any marketing message sent to you.

You can request us to stop sending you marketing messages by post at any time by emailing us at, by writing to us at P.A. McCormack & Co., Flemington House, Brown Street, Carlow or by telephoning us at 00353 599130422.

If you opt out of receiving marketing communications this opt-out does not apply to personal data provided in connection with a matter on which we are acting or have acted on your behalf and are obliged to obtain a record of for the purposes of complying with our legal obligations.




We may have to share your personal data with the parties set out below:

  • Service providers who provide IT and system administration services including cloud based services and applications.
  • Service providers who provide business administration services, including third party dictation, typing and transcription services and external file storage and archiving services.
  • Professional advisers including other accountants, solicitors, bankers, auditors and insurers who provide consultancy, banking, legal, insurance, accounting services and regulatory support and compliance services.
  • Risk management auditors and quality control companies.
  • The Revenue Commissioners, the Association of Chartered Certified Accountants.
  • the Data Protection Commission, the Central Statistics Office, and other regulators and authorities based in Ireland and other relevant jurisdictions who require reporting of processing activities in certain circumstances.
  • Third parties to whom we sell, transfer, or merge parts of our business or our assets.

We require all third parties to whom we transfer your data to respect the security of your personal data and to treat it in accordance with the law. We only allow such third parties to process your personal data for specified purposes and in accordance with our instructions.





We do not transfer your personal data outside the European Economic Area (EEA).]



We have put in place commercially reasonably and appropriate security measures to prevent your personal data from being accidentally lost, used or accessed in an unauthorised way, altered or disclosed. In addition, we limit access to your personal data to those employees, agents, contractors and other third parties who have a business need to know such data. They will only process your personal data on our instructions and they are subject to a duty of confidentiality.

We have put in place procedures to deal with any suspected personal data breach and will notify you and any applicable regulator of a breach where we are legally required to do so.



We will only retain your personal data for as long as necessary to fulfil the purposes we collected it for, including for the purposes of satisfying any legal, accounting, or reporting requirements.

To determine the appropriate retention period for personal data, we consider the amount, nature, and sensitivity of the personal data, the potential risk of harm from unauthorised use or disclosure of your personal data, the purposes for which we process your personal data and whether we can achieve those purposes through other means, and the applicable legal requirements.

By law we have to keep data for six years after the conclusion of any engagement in order to comply our regulatory and tax obligations. In order to be in a position to establish, exercise and defend our legal rights, the firm has a policy of retaining all documentation in relation to engagements for seven years and half years from the date that the documentation was first received or created by the firm, or the completion date of the agreed service for which we have been engaged.

In some circumstances you can ask us to delete your data: see below for further information.

In some circumstances we may anonymise your personal data (so that it can no longer be associated with you) for legal know-how, research or statistical purposes in which case we may use this information indefinitely without further notice to you.




Under certain circumstances, you have rights under data protection laws in relation to your personal data. These include:


  • The right to Access – you have the right to request a copy of the personal data that we hold about you, together with other information about our processing of that personal data.
  • The right to Rectification of your personal data – you have the right to request that any inaccurate data that is held about you is corrected, or if we have incomplete information you may request that we update the information such that it is complete.
  • The right to Erasure – you have the right to request us to delete personal data that we hold about you. This is sometimes referred to as the right to be forgotten.
  • The right to Object to processing and restrict processing – you have the right to request that we no longer process your personal data for particular purposes, or to object to our processing of your personal data for particular purposes.
  • The right to Data portability – you have the right to request us to provide you, or a third party, with a copy of your personal data in a structured, commonly used machine readable format.

By consenting to this privacy notice you are giving us permission to process your personal data for the purposes identified.

If we are processing personal data based on your consent, you may withdraw that consent at any time. This does not affect the lawfulness of processing which took place prior to its withdrawal.

You can see more about these rights at:

Should you require any further details regarding our treatment of personal data, please contact Peter McCormack.

You will not have to pay a fee to access your personal data (or to exercise any of the other rights). However, we may charge a reasonable fee if your request is clearly unfounded, repetitive or excessive. Alternatively, we may refuse to comply with your request in these circumstances.

We may need to request specific information from you to help us confirm your identity and ensure your right to access your personal data (or to exercise any of your other rights). This is a security measure to ensure that personal data is not disclosed to any person who has no right to receive it. We may also contact you to ask you for further information in relation to your request to speed up our response.

We try to respond to all legitimate requests within one month. Occasionally it may take us longer than a month if your request is particularly complex or you have made a number of requests. In this case, we will notify you and keep you updated.

If you are not happy with any aspect of how we collect and use your data, you have the right to complain to the Data Protection Commission (DPC), the Irish supervisory authority for data protection issues (  Please contact us first if you do have a complaint so that we can try to resolve it for you.

[1] “competent authority”, means— a public authority competent for the prevention, investigation, detection or prosecution of criminal offences or the execution of criminal penalties in the State, including the safeguarding against, and the prevention of, threats to public security, or any other body or entity authorised by law to exercise public authority and public powers for the purposes of the prevention, investigation, detection or prosecution of criminal offences or the execution of criminal penalties in the State, including the safeguarding against, and the prevention of, threats to public security;

Tax Reducing Tips

Posted in Useful Information by admin - Jan 26 2016

Finance is a broad term which covers many distinct facets of financial activities, such as banking, business, investment, insurance, credit, and the accounting and auditing of financial trades In particular, finance addresses the questions of why and how an individual, organization, or government obtain the funds required within their company – known as investment funds – and exactly what they do with or invest that funds once it is obtained.

  • Ensure you claim all allowances available to you. Claim back refunds for last 4 years.
  • Involving Family members in Business

Maximise tax credit and bands between spouses.

Family members are often engaged in the family business (in an administrative and other roles), although not formally employed by the business. A formal employment should be put in place for the family member to utilise their 20% tax bands & tax credits. Thinking in a add solar panel to you home, you may be interesting in Solar panels for your homes: where to start.

  • Maximise tax free Travel & subsistence Expenses

In order to minimize income tax and PRSI costs it is important to ensure that you are first maximizing all your allowable tax free travel and subsistence payments before taxable salary payments are then made. Learn more about how to get you salary payments sorted out by checking this guide on how to get a check stub template free.

Travel is an allowable expense when the journey is necessarily incurred in the performance of the duties of the office or employment, you are entitled to reclaim travel and subsistence from the business tax-free using Civil Service rates – these also apply to company directors, so you can have more free time for other activities like traveling or playing games as WoW Classic, and you can get gold online for this game, click to read more here.

For rates and sample mileage/ subsistence sheets go to

In the case of a sole trader or partner in a partnership, travel expenses are computed based on the actual expenses incurred on fuel, insurance, maintenance, motor tax and vehicle depreciation.

  • Pension Funding

Employees contributing to a personal pension plan receive tax relief at their top tax rate.   There are many types of pension plans available, including self-administered or managed, and careful consideration needs to be given to ensure the correct pension plan is chosen. Directors can pay pension contributions through the business via an Executive Pension Plan. Company pension plans provide a tax efficient mechanism whereby wealth can be extracted from the company in a tax efficient manner.

  •  The Home Carer’s tax credit of €1,000 is available to a spouse in a one-earner family who is caring in the home for a child who is eligible for Child Benefit, or an aged or disabled person. The home carer is allowed to have up to €7,200 income of their own.
  • An exemption of €3,000 is allowed on all taxable gifts taken by a donee from a disponer in any year from 1st January to 31st December. Parents can individually gift their children / grandchildren €3,000 per annum tax free, from each parent / grandparent. With the recent significant reductions in inheritance tax-free thresholds this can be a useful relief if planned correctly.
  • Dependant Relative Credit is claimable if you support a widowed mother or incapacitated relative whose income does not exceed the contributory OAP.
  • Claim cost of a carer for a family member up to €75,000 per annum.
  • Covenant income to an elderly or incapacitated personHelp family members using deeds of covenant to transfer income. A covenant is a promise to pay someone a certain sum of a definite period. Covenanted income is deducted from the payer’s taxable income and added to the person who receives the income. The receiving party could be tax exempt while the payer obtains tax relief at 40% on the payment.
  • Single Person Child Carer Credit applies to single or widowed person if you are the principal carer of a child aged under 18, over 18 in full-time education, or permanently incapacitated.
  • Certain expenses carry a 20% Tax Credit

Claim for Medical Expenses Credit – You can claim for GP visits, prescriptions, food for coeliacs/diabetics, travel expenses to hospital, some dental expenses (need Med2 form from dentist)paid    by you for yourself, your              spouse, children or dependant relatives

Claim tax credit on payments to Medical insurer paid on your behalf by employer

Tuition fees paid to colleges are tax reclaimable. However, the first €3,000 of each claim is disregarded.

Claim Employee flat rate expenses credit (for certain employments only)

  • Avail of Bike to work scheme – Under the scheme employers can pay for bicycles and bicycle equipment for their employees and the employee pays back through a salary sacrifice arrangement of up to 12 months. The salary sacrifice is made prior to Income Tax, PRSI and USC and as a result, the employee saves between 29.5% and 49.5% on the amount they have chosen to spend (between €100 – €1000).
  • Use the TaxSaver commuter scheme to purchase your bus or rail ticket, tax saving of up to 52%
  • Give €500 voucher (not cash) to employees during the year, tax free. The benefit to the employer is that they do not have to pay Employers PRSI.
  • Time Capital disposals to avail of your annual exemption to Capital Gains Tax of €1,270 per annum. This applies separately for spouses, transfer some shares into the name of your spouse so that when you sell them you will both get a CGT exemption of €1,270 each.
  • Rent a room in your home – rental income up to €12K is tax free
  • Home Renovation Incentive : An income tax credit of 13.5% applies to home renovations up to a maximum expenditure of €30,000 undertaken before December 2016 and will be refunded over the two years following the year in which the works are carried out. To qualify at least €5,000(inclusive of VAT) must be spent. Both homeowners and landlords can avail of this credit.  If you’re interested to learn more about how to benefit from the CLT appliance repair, you can find further insight in this article. Additionally, consider adding a classic touch to your home with this Tell City furniture. Known for its high-quality craftsmanship and timeless designs, Tell City furniture is perfect for those who appreciate traditional style and durability.
  • In certain cases it may be an advantage to change your business structure from being sole trader to a limited company to avail of corporation tax rate 12.5%
  • Seed Capital investment relief for unemployed/PAYE workers starting a new company – if you qualify for this scheme you can reclaim PAYE paid by you before you start your business. You can reclaim €100,000 per annum for 6 years.
  • Relief for Investment in Corporate TradesThe Employment and Investment Incentive Schemes (EIIS) offers investors, like those who learned from the Kiana Danial price, up to 40% tax relief against their total income in return for investing in new ordinary shares in qualifying SMEs for a minimum 4 year period. Individuals can invest up to €150,000 in each year up to and including 2020.Investment can be made directly into qualifying individual companies or into a basket of companies through a Designated Investment Fund.
  • EIIS are revamped and reformed BES (Business Expansion Schemes) and provide an alternative source of finance for qualifying companies.
  • Maximize allowable expenses for your business by diligently keeping records of all expenditures, including documents and receipts. Consider utilizing a credit card for small business expenses whenever feasible, not only to streamline transactions but also to facilitate tracking of your business journeys—an essential practice for effective accounting and tax services.
  • File tax returns on time to avoid surcharges & pay taxes on time to avoid interest.


The above notes are intended to be a brief introductory guide and any investment / re-structuring should not be carried out without detailed consideration and advice. No responsibility for loss or distress occasioned to any person acting or refraining from acting as a result of the above introductory notes can be accepted by P.A. McCormack & Co., Chartered Certified Accountants.


Loan Calculator

Posted in Useful Information by admin - Apr 12 2013



Loan Repayment Calculator
Use this calculator to work out the approximate monthly repayments you will need to make on a personal loan or mortgage from companies like This even works when looking for Personal Loans business options. Be sure to visit the SoFi website to get further options.

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Mortgage Repayment Calculator
Use this calculator to work out the approximate monthly repayments you will need to make on a mortgage.

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Compound Interest on savings
Use this calculator to work out the approximate interest accumulated on a compound interest savings account you need to first fill with money from what you get from the payroll stub template.

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Return on capital Employed Calculator
A measure of the returns that a company is making from its capital. Calculated as profit before interest, tax and dividends, divided by the difference between total assets and current liabilities. The ratio shows how efficiently capital is being used to generate revenue, while you can also apply for a car loan online if you need to.

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Debtors Days Calculator
This calculation shows the average number of days it takes a company to receive payment from its debtors, the lower figure the better. A high figure suggests inefficiency or potential bad debts.

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Redundancy Calculator
Calculate a statutory redundancy entitlement for a qualified employee, who has been dismissed because of redundancy.

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Whilst every effort has been made to ensure the accuracy of the calculators published within this website, you choose to use them and rely on any results at your own risk. We will not under any circumstances accept responsibility or liability for any losses that may arise from a decision that you may make as a result of using these calculators.

Changes to RCT System

Posted in Useful Information by admin - Dec 12 2011

Changes to RCT System

On 1st January 2012 the new electronic RCT system becomes obligatory for all Principal’s & Subcontractors.

The current paper-based system is being replaced by an electronic system where all interactions between Principal contractor and Revenue will be by electronic means. For a good electronic and accessories the best corner wall mount tv is available for any system.

In the new system there will be three rates of RCT; 0%, 20%, 35%. Subcontractors who satisfy the current criteria for a C2 card will qualify for the 0% rate. In certain limited cases, subcontractors will be placed at 35% e.g.  subcontractors who are not registered with Revenue or where there are serious compliance issues to be addressed. All other subcontractors will be eligible for the standard 20% rate. For more on financial revenue handling, check this new guide on how to generate form w-2.

There will be no C2 cards in the new system.

All principals & subcontractors must ensure that they are registered for ROS as soon as possible as there will be no paper RCT forms in the new system. If assistance is required contact the ROS Helpdesk at 1890 201 106

Changes to new system :

–          Mandatory electronic communication

–          “Contract Notification” – Principals must notify the revenue of the relevant contract. Revenue will acknowledge the notification and advise the principal of the current rate of RCT applicable to the subcontractor

–          “Payment Notification” – Principals must notify the revenue of his or her intention to make a payment and state the gross amount to be paid. Failure to properly notify Revenue will leave principal liable for the RCT.

–          “Deduction Authorisation” – Upon receipt of the payment notification revenue will issue authorisation of the rate of tax and amount of tax to be deducted from the payment. The principal must give a copy of the deduction authorisation to the subcontractor.

–          A “ Deduction Summary” will be issued to the principal, either monthly or quarterly, listing all of the payments Revenue has been made aware of. If the summary is correct, the principal needs only to arrange payment on or before the due date for the return. If the summary is not correct, the principal should make the necessary amendments online and submit the return by the due date and arrange for payment of the RCT deducted on or before the due date. This new process will replace the RCT 30 return.

–          The annual RCT 35 return will no longer be required for the tax year 2012 onwards.

Principals – Important Notice

Revenue will pre-populate the new system with contract information using data taken from each principal’s 2010 RCT 35 Return, Payments cards issued in 2011 and other data on Revenue’s systems. Principals should access the new system from 05th December 2011 to confirm what contracts have been automatically notified by revenue on their behalf and to make amendments if necessary.

For further information or our assistance please call our office on 059 9130422 or

To view Revenue’s Information video please click on link below

Employer Job (PRSI) Incentive Scheme

Posted in For Employers by admin - Jul 12 2010

In June 2010, a significant development in employment law was witnessed when the government introduced an initiative aimed at encouraging job creation.

Dubbed as the Employer Job (PRSI) Incentive Scheme, it offered an exemption from employer’s PRSI (Pay Related Social Insurance) for a duration of 12 months from the approval date, granted to employers who hired additional eligible employees in 2010.

Essential stipulations for the scheme were laid down as follows:

The newly employed individual must have been registered as unemployed (Live-Register) for a minimum of 6 months prior to their employment.
The job role created must be full-time, new, and over and above the existing workforce. The scheme explicitly prohibits employers from substituting current employees to benefit from the scheme.
As part of compliance, employers are obliged to present an up-to-date Tax Clearance Certificate.
An upper limit of participation was set at 5% of the existing workforce for larger companies, whereas smaller businesses were restricted to a maximum of five new job roles.
Jobs created under this scheme were required to have a minimum duration of 6 months. Failure to meet this condition results in a requirement for the employer to repay the PRSI exempted amounts.

Interestingly, if an employer had created a job role in 2010 before the official launch of the scheme, they could potentially benefit from the employer’s PRSI exemption for that role for 12 months from the approval date.

According to companies similar to HKM, this was a significant step in employment law, encouraging businesses to create more jobs while offering some relief from social insurance costs.

More information on managing employees, including a new downloadable w2 form, can be found at the provided link.

Tax Exemption for Start-Up Companies

Posted in Useful Information by admin - May 14 2010

In an attempt to encourage the establishment of new companies a three year remission from taxation from profits and capital gains for companies with a tax liability of less than €40,000 per annum was announced in Budget 2009.

Companies that qualify will be fully exempt from corporation tax on trading profits and chargeable gains on the disposal of assets used for the new trade where the total amount of corporation tax does not exceed €40,000.  Where corporation tax for the period is between €40,000 and €60,000, marginal relief will apply. To simplify tax handling, we recommend to make a pay stub template which will make things easier for you. Also, you can generate paystubs if you need to.

This relief will apply for three years from the commencement of the new trade. Therefore the company could shelter from tax up to €960,000 of trading profits over a three year period. Ensure that payment processing companies you choose support your preferred payment methods. Additionally, for ventures involved in machine learning for paystubs, utilizing the suggested pay stub template can be particularly advantageous.

The following conditions apply:

–  The company must be incorporated on or after 14th October 2008

–  The company must commence to trade during 2009 or 2010

–  The trade must be a new trade and must not have been carried on previously by another person in the state

– The tax relief will apply for 3 years from the commencement of the new trade.

– The tax relief does not apply to companies that are dealing in land or petroleum and mineral activities.

– The tax relief does not apply to professional service companies.

– The tax relief for companies operating in the road transport sector is restricted to a total of €100,000 over the 3 year period.

For a confidential consultation, without obligation, to discuss your specific requirements please call our office on 059 9130422 or