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Like everyone KomSec Limited is working around the impact of Covid-19 on business life.
Standard company secretary work, e.g. managing Company Registers, and filing statutory forms continues as usual. However, we are noticing clients becoming more cautious about formal gatherings be they seminars, workshops or board meetings.
To help manage these concerns KomSec Limited are facilitating clients by:
o increasing conference calls instead of client visits;
o virtual attendance at Board Meetings (mainly via Skype and Teams); and
o have set up systems so that our staff can work from home if required.
Safeguarding the health of our staff and clients is naturally paramount but, if there is anything we can do to help support your Company please let us know.
Stay well and good luck as we all continue to adapt to this evolving situation.
2019 KEY DATES
01.01.2019 New Year’s Day - last chance to relax before going back to work
01.01.2019 PAYE Modernisation
02.01.2019 Relax, you are one of the few people actually back at work
08.01.2019 Earth Rotation Day – commemorating Leon Foucault who determined Earth rotated on its axis in 1851.
28.01.2019 Global International Data Protection Day – yes more GDPR!
January Make sure you have set up dates for all quarterly board meetings during 2019
01.02.2019 CAO applications deadline
02.02.2019 Six Nations Rugby England V Ireland
17.03.2019 St. Patricks Day - one day in the year when everyone is happy to be seen in public with green face paint
and Shamrock Hats!
21.03.2019 Local Property Tax deadline – if paying full amount in one go.
3.03.2019 Mother’s Day – do not give her flowers bought at the petrol station on the way home!
March Quarterly Board Meeting
21.04.2019 Easter Day
22.04.2019 No groaning – you knew what you were doing when you eat all those chocolate Easter eggs
April Audit – make sure someone is actively managing the Audit which includes telling the Auditors!
06.05.2019 Bank Holiday - May Day
09.05.2019 Europe Day
03.06.2018 Bank Holiday
16.06.2018 Father’s Day
June Quarterly Board Meeting
01.07.2019 International Kissing Day – why, what’s wrong with kissing every day?
02.07.2019 UFO Day – that’s more like it, bring it on ET!
04.08.2019 Single Working Women’s International Day
05.08.2019 Bank Holiday
30.09.2019 Annual Return Date for bulk of companies – panic or call us!
September Quarterly Board Meeting
28.10.2019 Annual Return – deadline for electronic filing
28.10.2019 Bank Holiday
11.11.2019 – 15.11.2019 Charity Trustee’s Week
23.11.19 Pay first payment of Corporation Tax
24.12.2019 Santa Claus is coming – go to bed
25.12.2019 Make sure the oven is on, and the turkey is in!
December Quarterly Board Meeting
New Customer Portal in the Registry of Friendly Societies
The Registry of Friendly Societies (RFS) is responsible for the efficient and effective registration and general regulation of over 1,000 Friendly Societies, Industrial and Provident Societies and Trade Unions in Ireland.
The RFS first foray into an online presence occurred in 2012 so, the launch this month of a new customer portal is a timely and welcome enhancement to all users. The portal will enable a substantial level of business to be carried out online such as:
- creating a new entity; and
- filing Annual Return and amendments.
Apart from the ease of online filing, Users will be able to avail of reduced fees for online filings. Quite how valuable the reduction of fees will be to Users is questionable given the total average annual filing fees paid to the RFS appears to hover around €46,000 to €50,000 per annum. As my Grandmother always said “Every mickle makes a muckle” so, improving filing capabilities whilst also providing for some cost savings can only be a good thing.
All companies are required to keep adequate accounting records but, what precisely does “adequate accounting records” mean?
Adequate accounting records are records which:
- correctly record and explain transactions of a company;
- detail assets, liabilities, financial position, profit or loss of a company; and
- enable directors to prepare annual financial statements.
The type of information which must be contained within the accounting records should cover information such as outlined below.
- All monies received and spent
- All assets and debts
- All purchases and sales
- Records of stock held
- Records of services purchased or provided
- Record of all goods bought and sold, including a record of itemised invoices
Time is money so, handling all of the above personally may not be the most cost effective option for a company.
- having a qualified book-keeper (part-time or full-time)
- retaining information in a simple format - does not have to be a costly bespoke piece of software.
Ireland itself is seen to be in the top ten countries in the world for innovation with the highest population of Science and Engineering Graduates in the OECD.
Companies considering Ireland as a potential location will have no difficulty amassing substantial information on the benefits of locating and working in Ireland. The challenge is to find an efficient way through that labyrinth of seemingly contradictory material.
One of the first ports of call should be the IDA – Ireland’s inward investment promotion agency – which actively promotes and support Foreign Direct Investment into Ireland. The IDA will help companies considering setting up or investing in Ireland by facilitating Site visits, access to Universities, provide Advice, etc.
Apart from having IDA contacts in Ireland itself, the IDA has representatives around the world ensuring decision makers in Global Head Offices can access onsite visits and clear data on the benefits of locating in Ireland.
The IDA highlights some interesting facts on businesses located in Ireland, and reasons why.
- 17 of the top 20 global software companies
- 14 out of 15 top medical tech companies
- 20 out of 25 top financial services companies
- 10 out of 10 top pharma companies
- 8 out of 10 top industrial automation companies
- 9 out of 10 top global software companies operate in Ireland
- 3 of 5 top games publishers based in Ireland
- 25% tax credits for Research & Development
Do not take our word for it, visit the IDA website https://www.idaireland.com/ and see for yourself.
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