Businesses We Cater For

The different types of businesses we can cater for at our firm:

Charities / Not for Profit Organisations

The Charities Regulatory Authority (CRA) was established on 16th October 2014 under the Charities Act of 2009. The CRA was set up to regulate the charities operating in Ireland.  The Minister for Justice & Equality has the power to make regulations setting out the format and content of reports that charities are required to make.  As the CRA is a new body these regulations have not yet been published.

We can help your charity with:

  • Annual Report
  • Audited accounts
  • Statement of accounts or income or expenditure report, depending on which report your charity is required to submit to the CRA

Farmers

Like all businesses farmers need to ensure that they are operating in the most cost effective manner. We work with all our clients to ensure they are getting the most out of their business.

We can help you with the following:

  • Advise on the best structure for your business (e.g. sole trader, partnership, limited company)
  • Prepare your end of year accounts
  • Bank reconciliations
  • VAT returns
  • File Income Tax Returns
  • Payroll services
  • Financial Advice

Hoteliers

We understand that running a hotel is an extremely complicated and time consuming business we can help to alleviate some of those pressures by offering all the audit, accounting and taxation services you would expect, such as developing tax and financial planning strategies tailored to your needs.

Our team of Chartered Accountants and support staff can provide the following services:

  • Bookkeeping
  • Payroll
  • VAT returns
  • PAYE returns
  • Management accounts
  • Business plans and projections.
  • Financial Advice

Professional Services & Medical Professionals

Our team can assist you in the filing of your statutory requirements with your respective professional body (i.e. The Law Society of Ireland, Property Services Regulatory Authority’s (PRSA) Irish Medical Organisation (IMO))

We can also provide the following services:

  • Business Plans
  • Sourcing of Finance / loan applications
  • Company formations
  • Accounts
  • Company secretarial work
  • Bookkeeping
  • Payroll services
  • Mergers & Acquisitions
Auctioneers :

Auctioneers are responsible for compliance with the Property Services (regulation) Act 2011 and (Client Monies) regulations 2012. This legislation applies to all Property Service Providers (PSP) – Auctioneers, Estate Agents, Letting Agents and Property Management Agents.

An accountants report is required for each licence renewal and must be completed by a certified accountant. This report will vary for the different types of PSP. Eugene T. Doyle & Co. Ltd Chartered Accountants can assist you with the completion of this report and your licence renewal applications.

Solicitors:

On 7th November 2014 the Council of the Law Society approved the new Solicitors Accounts Regulations 2014. The regulations came into operation on the 1st December 2014.

Any solicitor’s office that holds client monies must submit an annual reporting accountants report to the Law Society of Ireland. This report must be submitted within six months of your financial year end.

Our Services include:

  • Preparation and completion of your accountants report for the Law Society of Ireland.
  • Preparation of annual accounts.
  • Submit personal tax returns for partners or sole traders to the Revenue Commissioners.
  • Company secretarial works.
Insurance / Investment Brokers:

Insurance Brokers involved in general insurance, life insurance, pensions, investments and mortgages are responsible for compliance with the  European Communities (Insurance Mediation) Regulations, 2005 (as amended), the Investment Intermediaries Act, 1995 (as amended) and the Consumer Credit Act, 1995 (as amended).

An accountants report called a statutory duty confirmation is required for each authorised insurance broker annually and must be completed by a certified accountant.  Eugene T. Doyle & Co. Ltd Chartered Accountants can prepare this annual report. The Central Bank also require a Retail Intermediaries Annual Return to be submitted through their online system by all authorised insurance brokers. This annual return involves the disclose of audited balance sheet figures, details of employees involved in providing financial advice to customers, details of commissions earned from different insurance providers and details of the ownership of the company. Eugene T. Doyle & Co. Ltd can assist in the completion of this annual return.

Start Ups/New Businesses

Starting a new business is an exciting time in your career; we can offer a partner led mentoring service to guide you through this process to make it as easy and stress free as possible. It is imperative that you set up your business correctly from the beginning, we are more than happy to liaise with your legal advisor on this.

We offer a full and varied range of services if required such as:

  • Preparation of year end accounts, together with a full review with company directors.
  • Bookkeeping and VAT returns, Employees PAYE/PRSI.
  • Advice to the company directors on the financial affairs of the company.
  • Full company secretarial services: completion of companies’ office returns and minutes of AGM etc. together with the maintaining of statutory books and records as prescribed by company law.
  • Tax compliance work.
  • Personal Income Tax returns.
  • Preparation of budgets, cash-flows and dealing with bank requests for information.
  • Advice on Investments, Life and Pensions.

 

At Eugene T. Doyle & Co Ltd. We understand in the starting period of the business we will be required to invest our time and not charge for everything, but we look on this as an investment in the future relationship with the client.

Primary & Secondary Schools

Section 18 of the Education Act 1998 states that School Boards of Management are required to prepare yearly accounts and have them audited or certified in accordance with best accounting practice. Boards of Management are also required to prepare budgets under the Constitution of Boards and Rules of Procedure (as published by the Department of Education). Our chartered accountants and registered auditors will assist you in this process by preparing draft budgets for the forthcoming year working with the schools Board of Management and examining the previous year’s spending patterns.

We can also assist you with the following:

  • Annual Accounts
  • Audits if you require them
  • Taxation Compliance
  • Payroll services
  • Accounts
  • Budgeting
  • RCT & VAT Payments compliance

Personal Finances

There are many areas where an accountant can help you with your personal finances such as  we can prepare and submit your Income Tax Returns on your behalf. Our qualified financial advisors can also give you tailored advice on your Pensions, savings, and Investment needs.

Our services include:

  • Preparation of Income & Expenditure Budgets for Individuals.
  • Debt management advice.
  • Completion and filing of Form 12 Income Tax returns for PAYE Individuals who are eligible to claim for medical/dental expenses, personal pension relief, or any other tax credits relevant.
  • Review of clients Standard Rate Cut-off and Tax Credits for current and previous tax years to ensure overpayments of Income Tax have not been made.
  • CGT, CAT, Estate, Pension and Retirement planning.
  • Pension advice.

Private Landlords

We can prepare your rental Income tax returns, Rental Schedules, W& T Computations.

Types of Rental Income

Rental income is

  • the letting of property, e.g. houses, flats, apartments, offices and farmland.
  • easements, e.g. payments for the right to erect advertising signs, communication transmitters or for the grant of a right of way.
  • the granting of sporting rights, such as fishing and shooting permits.
  • payments made by a tenant to defray the cost of work of maintenance or repairs to the premises, which is not required by the lease to be carried out by the tenant.
  • certain premiums, including deemed premiums and reverse premiums.
  • conacre letting.
  • service charges in respect of services ancillary to the occupation of property.
  • insurance recoveries under policies providing cover against non-payment of rent.

Allowable Deductions

What Expenditure Can Be Deducted?

Broadly speaking, deductible expenditure is allowable only to the extent that it:

  • would be allowable if the receipt of rent were treated as the carrying on of a trade during the currency of the lease or during the period in which you were entitled to the rent,
  • is not of a capital nature, and
  • is incurred by you.

 

Examples of expenditure which you can deduct when calculating your rental income or losses are as follows:

  • Rents payable by the landlord in respect of the property, e.g. ground rent.
  • Rates which are payable to a local authority in respect of the property.
  • The cost of any service or goods you provide and for which you do not receive separate payment from your tenant, e.g. gas, electricity, central heating, telephone rental, cable television, water and refuse collection.
  • Property upkeep and maintenance e.g. cleaning and general servicing, exterior and interior painting and decorating.
  • Property insurance.
  • Management, e.g. the cost of collection of rents and any fees incurred when advertising for tenants. Accountancy fees incurred for the purposes of preparing a rental account.
  • Repair works. Examples of common repairs:
    1. damp and rot treatment,
    2. mending broken windows, doors, furniture and machines,
    3. replacing roof slates.

(However, you cannot claim a deduction for your own labour.)

  • Interest on money borrowed to purchase, improve or repair the let property. (However interest is restricted to 75% if the monies borrowed was used to purchase residential property)
  • Certain mortgage protection policy premiums,
  • Expenditure incurred between lettings in certain circumstances,
  • Allowances for capital expenditure may also be available.

This is not an exhaustive list and other expenditure may be allowable.

Rent-a-Room Relief

Rent-a-room relief is an income tax exemption available to individuals who wish to rent out a room or rooms in their sole main residence. In order for you to be eligible for this exemption your income from the gross rents received and sum for any other service or meals supplied to the tenant must not exceed the threshold for the year in question. (Currently €10,000 for the tax year 2014 and €12,000 for the tax year 2015.)

Retailers

In today’s increasingly competitive market it is more important than ever to keep costs and overheard to a minimum.

We work closely with our clients to help them reduce their operational expenses and improve the cashflow in the business, enable them to make informed decisions on their business and improve their overall financial return.

We can provide the following services to you:

  • Company formation
  • Tax registration
  • A tailored Financial Business plan
  • Monthly profit and loss account
  • Monthly Balance sheet
  • Monthly Cash Flow statement
  • Management reporting
  • Cash and stock control
  • Risk management
  • Business plans, cash flow, forecasting and budgetary controls
  • Management and financial accounting
  • Specialist accounting systems
  • VAT and PAYE
  • Corporate and personal taxation planning and compliance
  • Succession planning
  • Audit, internal audit and corporate governance
  • Acquisitions, mergers and disposals
  • Company secretarial

Construction Industry

The construction industry is one that has seen a number of changes being made over recent years. Companies and sole traders in the construction sector are now more than ever conscious of costs and keeping control of these. We can help by completing the following on your behalf:

  • RCT payments – all principle contractors are obliged to use the electronic RTC payment system and must.
  • Company formations and registration with CRO
  • Registering of business names
  • Preparation of annual accounts
  • Bookkeeping and VAT returns
  • Advice on allowable business expenses
  • Annual company returns
  • Payroll Processing
  • Tax compliance work

Contractors operating in the building sector are carrying on taxable activities and are obliged to register for VAT if their annual turnover exceeds (or is likely to exceed) the figure specified in the VAT Acts.

Employers

Where contractors (principals or subcontractors) have employees, they must register for and operate PAYE/PRSI for those employees.

Parishes / Clergy Members

Parishes are required to provide a record of their financial transactions for the year.

Our services include:

  • Income & expenditure reports
  • Preparation of year end accounts
  • Income tax returns for clergy
  • Bookkeeping and Payroll services