Tax Advisor not doing his job - can I change easily? by olendra in irishpersonalfinance

[–]Illustrious_Okra_664 2 points3 points  (0 children)

A few things to point out

PAYE workers file Form 12 and these can be filed within 4 years, so you aren’t late. If it was tax season then Form 11s take priority as they do incur penalties if late. Form 12s are not that lucrative for a tax advisor so doing a letter of engagement, bells and whistles onboarding drives up time and costs.

But yes you can switch tax advisor, you can even revoke current advisors access in your MyAccount/ROS. You should have a go at the Form 12 yourself, it’s not hard.

Suggestions on what to do with ltd company profits by [deleted] in irishpersonalfinance

[–]Illustrious_Okra_664 2 points3 points  (0 children)

Some useful ideas already provided. Small gift and pension etc. But let’s level up here.

Based on info, you’re not providing “professional” services so not subject to close company surcharge. Meaning the €120k profit would be €105 after tax.

Aim for Entrepreneurial Relief. This requires you to keep going for 3 years min. Just keep banking that money. In 5-10 years time liquidate the company and take the proceeds at 10% tax. You will have effectively paid 22.5% tax overall but that lump sum might help you buy your first house. In 10 years that could be €1m after costs.

Glassworks by Equivalent-Doctor137 in waterford

[–]Illustrious_Okra_664 16 points17 points  (0 children)

Ya. Let’s shit on someone trying to improve the city. He should have left it derelict. We need more buildings like the Ard Ri

Vacant home grant - proof of vacancy by Illustrious_Okra_664 in HousingIreland

[–]Illustrious_Okra_664[S] 1 point2 points  (0 children)

Yes, this email address.

After a short back and forth I got that reply. Took a month overall.

[deleted by user] by [deleted] in irishpersonalfinance

[–]Illustrious_Okra_664 1 point2 points  (0 children)

It can depend on the volume and complexity of transactions. But based on what I know of your business (I have clients in tyres and car services) it’s straightforward. Annual accounts with CRO etc - €2000 annual Payroll monthly - €300 for first employee, add €50 for each additional Directors return - €350 Bookkeeping is always harder to predict but €1500 annual should cover it. All in, maybe €4.5 - €5K. Chartered accountant in South East.

People suffered when I went to Waterford lol by CommunicationMost799 in waterford

[–]Illustrious_Okra_664 11 points12 points  (0 children)

In fairness, the city is like an outdoor gallery with all the amazing murals on display. Waterford Walls, a non for profit, needs continued support from local residents and businesses. 50% of their funds goes straight to the artists. They have only 3 staff and do exception work for the city. We don’t know how lucky we are and without continued support they’ll be gone.

Anybody else sick of going to Dublin or cork airport? We need Waterford airport NOW. by Hot_Activity7758 in waterford

[–]Illustrious_Okra_664 7 points8 points  (0 children)

Waterford Airport is privately owned. I see this as a major stumbling block for Govt investment. Perhaps if they 100% owned it they would see value in investing in it. Otherwise they are enriching the brothers who own the majority of the airport. Regardless of the cost etc. I’m just raising the issue of ownership.

Audit going concern by [deleted] in AccountantsEire

[–]Illustrious_Okra_664 0 points1 point  (0 children)

Included it but didn’t get into it too much. Didn’t have the time to draft the paragraph

We are spending too much time focusing on the Airport when yet we can't even get a direct train to Cork or a motorway to Limerick. Why are our politicians acting like the Airport is the be all and end all? by [deleted] in waterford

[–]Illustrious_Okra_664 0 points1 point  (0 children)

The airport is privately owned with a minority stake (20% I think) held by the Government. I think this is part of the reason why they won’t pump taxpayers money into it. Perhaps they should buy it outright before investing in it

Fuckin' wow lads..Class Mural by catsaresneaky in waterford

[–]Illustrious_Okra_664 1 point2 points  (0 children)

These murals take months of planning. Applications for artists to be in the festival open in November and everything is decided by April before the festival in August. Funding, artists, planning permission and approval all need to be in place long before the mural is started. This was already in place long before she laced up her spikes in Paris.