Duncan Ledger

With the Revenue Online Service (ROS) deadline to make contributions against 2023 earnings rapidly approaching on 14th November 2024, Paula Finlay, Head of Pensions, Davy Private Clients, explains why pensions are one of the most tax-efficient ways to save for your retirement. Why not request a call today. https://lnkd.in/eSeKaiwq #Pension #PensionTopUp #FinancialPlanning #RetirementPlanning

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Below are my thoughts on how to maximise your earning potential in Ireland's Accountancy Sector: 📋 Specialise Strategically: Focus on niche areas such as tax planning, forensic accounting, or corporate finance. Specialisation can make you invaluable and command higher salaries. 📋 👩‍🎓 Pursue Professional Qualifications: Attaining certifications like CPA (Certified Public Accountant) or ACCA (Association of Chartered Certified Accountants) can significantly boost your earning potential by demonstrating expertise and commitment. 👩‍✈️ 🙋‍♂️ Network Proactively: Actively engage in networking events, seminars, and professional associations like CPA Ireland or Chartered Accountants Ireland. Building strong professional relationships can lead to lucrative opportunities and referrals. 🙋‍♂️ 💻 Embrace Technology: Stay updated with the latest accounting software and technologies. Efficiency gains from automation and data analytics can increase productivity, allowing you to take on more clients and projects. 💻 🧐 Continuously Educate Yourself: Invest in ongoing professional development to stay ahead of industry trends and regulations. Being at the forefront of changes can position you as a thought leader and justify higher salaries for your expertise 🧐 What do you think? #accountancyjobs #accountancycareers #accountantsonthemove

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The Irish accounting market is a dynamic landscape with both opportunities and challenges for recruiters in 2024. Below are just some of my thoughts on what I see are the pros and cons of recruiting in this market in 2024 💥 Opportunities 💥 Strong Demand: The demand for qualified accountants remains robust across various sectors. Companies are actively seeking skilled professionals to fill vacancies and drive growth. Competitive Salaries: The market is competitive for top talent, leading to attractive salary packages and benefits for accountants. Diverse Opportunities: Ireland offers a wide range of career paths for accountants, from traditional roles in audit and tax to emerging areas like sustainability and data analytics. Global Reach: Ireland's position as a global hub for multinational companies provides opportunities for accountants to work on international projects and gain valuable experience. 💢 Challenges 💢 Talent Shortage: The market faces a shortage of skilled accountants, particularly in specialized areas like cyber security and forensic accounting. Competition: Recruiters face stiff competition from other firms vying for top talent. Changing Skillsets: The evolving business landscape requires accountants to adapt to new technologies and digital tools, necessitating continuous learning and upskilling. Regulatory Complexity: The complex regulatory environment in Ireland can add challenges to the recruitment process, particularly for international candidates. Conclusion: Recruiting accountants in Ireland in 2024 presents a unique set of opportunities and challenges. By understanding the market dynamics, embracing technology, and building strong relationships with candidates, recruiters can navigate the landscape successfully. Would love to hear your thoughts #AccountingRecruitment #Ireland #TalentAcquisition

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💼 𝗜𝗿𝗲𝗹𝗮𝗻𝗱 𝗕𝘂𝗱𝗴𝗲𝘁 𝟮𝟬𝟮𝟱: 𝗪𝗵𝗮𝘁’𝘀 𝗶𝗻 𝗶𝘁 𝗳𝗼𝗿 𝗦𝗮𝗹𝗮𝗿𝗶𝗲𝗱 𝗘𝗺𝗽𝗹𝗼𝘆𝗲𝗲𝘀? 💼 With the announcement of Ireland's Budget 2025, here are some key updates that salaried individuals can expect: 🔹 𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗲𝗱 𝗠𝗶𝗻𝗶𝗺𝘂𝗺 𝗪𝗮𝗴𝗲 The hourly rate has been raised by €𝟬.𝟴𝟬, bringing it to €𝟭𝟯.𝟱𝟬/𝗵𝗼𝘂𝗿. 🔹 𝗜𝗻𝗰𝗼𝗺𝗲 𝗧𝗮𝘅 𝗥𝗲𝗹𝗶𝗲𝗳 The 20% income tax band has been extended by €𝟮,𝟬𝟬𝟬, meaning you'll now pay 20% tax on income up to €𝟰𝟰,𝟬𝟬𝟬. 🔹 𝗨𝗻𝗶𝘃𝗲𝗿𝘀𝗮𝗹 𝗦𝗼𝗰𝗶𝗮𝗹 𝗖𝗵𝗮𝗿𝗴𝗲 (𝗨𝗦𝗖) The 4% USC rate will drop to 𝟯%, and the entry point to this rate has been increased by €𝟭,𝟲𝟮𝟮. 🔹 𝗥𝗲𝗻𝘁 𝗧𝗮𝘅 𝗖𝗿𝗲𝗱𝗶𝘁 The rent tax credit has increased by €𝟮𝟱𝟬, bringing it to €𝟭,𝟬𝟬𝟬. 🔹 𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗲𝗱 𝗧𝗮𝘅 𝗖𝗿𝗲𝗱𝗶𝘁𝘀 𝗠𝗮𝗶𝗻 𝘁𝗮𝘅 𝗰𝗿𝗲𝗱𝗶𝘁𝘀 are up by €𝟭𝟮𝟱 to €𝟮,𝟬𝟬𝟬. 𝗕𝗹𝗶𝗻𝗱 𝘁𝗮𝘅 𝗰𝗿𝗲𝗱𝗶𝘁 increased by €𝟯𝟬𝟬 to €𝟭,𝟵𝟱𝟬. 𝗗𝗲𝗽𝗲𝗻𝗱𝗲𝗻𝘁 𝗿𝗲𝗹𝗮𝘁𝗶𝘃𝗲 𝗰𝗿𝗲𝗱𝗶𝘁 raised by €𝟲𝟬 to €𝟯𝟬𝟱. 𝗛𝗼𝗺𝗲 𝗰𝗮𝗿𝗲𝗿 𝗰𝗿𝗲𝗱𝗶𝘁 up by €𝟭𝟱𝟬 to €𝟭,𝟵𝟱𝟬. 𝗜𝗻𝗰𝗮𝗽𝗮𝗰𝗶𝘁𝗮𝘁𝗲𝗱 child credit boosted by €𝟯𝟬𝟬 to €𝟯,𝟴𝟬𝟬. 𝗦𝗶𝗻𝗴𝗹𝗲 𝗽𝗲𝗿𝘀𝗼𝗻 𝗰𝗵𝗶𝗹𝗱 𝗰𝗮𝗿𝗲𝗿 𝗰𝗿𝗲𝗱𝗶𝘁 increased by €𝟭𝟱𝟬 to €𝟭,𝟵𝟱𝟬. 🔔 𝗡𝗼𝘁𝗲: These changes come into effect from January 1, 2025. ⚠️ 𝗔𝗱𝗱𝗶𝘁𝗶𝗼𝗻𝗮𝗹𝗹𝘆, the PRSI rate will increase to 4.1% from October 1, 2024. For an easy visualisation, three sample payslips for annual incomes of €𝟯𝟬𝗸, €𝟱𝟬𝗸, and €𝟳𝟱𝗸 are provided below. These updates offer some welcome relief to employees, with increased tax thresholds and credits helping to boost take-home pay. Typo: 75K (USC calculation @ 3% should have been €1,280)😅 #IrelandBudget2025 #TaxRelief #SalariedEmployees #Finance #TaxCredits #NetPay #Ireland

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🚀 Payment Strategies for Irish Company Directors 💼 As a director, you have two main options for paying yourself: Salary - Tax Benefits: The company gets a tax deduction, and taxes are deducted at the source. Pension - Tax Benefits: Company contributions are tax-deductible with no payroll taxes. Best Approach? A mix of salary and pension often works best. Other Profit Extraction Methods: Sell Personal Assets: Extract value tax-free by selling assets to your company. Company Loans: Get a tax-free loan if repaid within the financial year. Liquidation: Extract capital at lower tax rates if the company ceases operations. We'll cover this in our upcoming webinar on 4th September - link in comments below 👎 Always consult with your Accountant or tax advisor to optimise your strategy! #TaxEfficiency #BusinessStrategy #CompanyDirectors

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Good to hear the Governement is considering scrapping the proposed changes to CGT retirement relief on the transfer of business. The proposed changes , if implemented, would have resulted in some businesses not being transferred until the current owner passed away or being sold to fund the tax. With the need to encourage Irish companies to scale and remain with family owners inappropriate tax provisions would have a negative effect . Forvis Mazars were delighted to assist various organisations in highlighting the practical impact of poorly researched legislative proposals. Perhaps a bit more consultation on the impact of proposed legislative changes would be best all round in the future.

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Ahead of the next general election, Chartered Accountants Ireland is campaigning to ensure the next Government recognises and supports the critical role SMEs play in Ireland's economy. We have engaged extensively with members in recent months listening to what they believe needs to be prioritised to make Ireland a better place to work and live. Our election manifesto 'Securing A Sustainable Economy' sets out the following key priorities: 👷‍♀️ Reduce labour costs for SMEs 📓 Think 'small first' when introducing new legislation 🈺 Simplify the tax regime to encourage enterprise 🚸 Make more childcare places available for working parents Until election day (whenever that day comes) our team will continue to work tirelessly to promote our members' priorities to politicians and policymakers alike. Stephen Lowry Gearóid O'Sullivan Leontia Doran Susan Rossney Barry Doyle Barry Dempsey Sinead Donovan Pamela McCreedy FCA Jill Farrelly MPRII Jeremy Twomey

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📅 𝐒𝐭𝐚𝐲 𝐀𝐡𝐞𝐚𝐝: 𝐊𝐞𝐲 𝐈𝐫𝐢𝐬𝐡 𝐓𝐚𝐱 𝐃𝐞𝐚𝐝𝐥𝐢𝐧𝐞𝐬 𝐟𝐨𝐫 𝐒𝐦𝐚𝐥𝐥 𝐚𝐧𝐝 𝐌𝐞𝐝𝐢𝐮𝐦-𝐒𝐢𝐳𝐞𝐝 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐞𝐬 𝐢𝐧 𝟐𝟎𝟐𝟒 As the year winds down, it’s crucial for Irish SMEs to stay on top of important tax deadlines to avoid late penalties and ensure compliance. Here’s a quick reminder of the key dates you need to keep in mind for the remainder of 2024: ➡ 31 October 2024 - Income Tax Filing Deadline This is the final deadline for filing your 2023 income tax return. For companies that have a self-employed element, this is a critical date for avoiding late fees. An extension until 14 November 2024 may be availed of if taxpayers submit their payment and file their tax return through ROS 💻 ➡ 23 November 2024 - Corporation Tax Payment For SMEs that operate within a year end of 31 December, this is the deadline for your preliminary tax payment. Ensure your accounts are in order to avoid interest on late payments. ➡ 15 December 2024 - VAT Return for November The monthly VAT return for businesses on a monthly VAT filing schedule is due on this date. Stay proactive with your tax planning! Reach out to our team at [email protected] for any tax related queries. 💼 #TaxCompliance #IrishSME #AIAccounting #TaxDeadlines #AccountingTips

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Ready to Build a Firm that Thrives Without You? At ProfitPro, we empower Irish accountants to create profitable, scalable, and saleable businesses. But first—you need to be honest about where you are. Are you moving forward with a clear strategy, or stuck in the same cycle, missing the progress you deserve? In our Built to Sell Masterclass, we'll guide you through a powerful tool to take stock of your firm's current position. Brutal honesty about where you are is the first step toward building a firm that's not just profitable, but saleable—even if you're not ready to sell. Build smarter. Scale faster. Succeed on your terms. Register @ https://lnkd.in/ePXtau5U #BuiltToSell #ProfitPro #ScaleYourFirm #AccountantsTransformation #Masterclass

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2025: Navigating the Evolving Accountancy Landscape in Ireland 💥 As we step into 2025, the accountancy sector in Ireland is poised for significant transformation. While technological advancements offer unprecedented opportunities, they also present complex challenges. 💥 💫 One of the primary hurdles will be adapting to the rapidly evolving regulatory environment, particularly in areas like sustainability reporting and tax compliance. Accountants will need to stay abreast of these changes and ensure their clients are compliant. 💫 💢 Furthermore, the increasing complexity of financial reporting standards, coupled with the global economic uncertainty, will demand heightened analytical and problem-solving skills. Accountants will be expected to provide insightful business advice, not just number crunching. 💢 💦 The rise of automation and AI will also reshape the industry. While these technologies can streamline processes, they also raise concerns about job displacement and cybersecurity threats. Accountants must embrace these tools while developing the skills necessary to work alongside them. Would like to hear your thoughts on where you see the challenges in 2025 for accountants. 💦 #AccountancyIreland #FutureofAccountancy #TechandAccountancy

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The right accountant can make your business a lot simpler and more manageable. Accountants are well-positioned to help contractors like you with the tax complexities of being self-employed so that next time there’s an opportunity for work or project proposals, they’ll have all their ducks planted firmly in a row. Accountants are the perfect solution for contractors like you. Being in control of your income and ready to take on projects without hassle is what we do best.

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Very interesting analysis from Chartered Accountants Ireland on the recent budget and it's lack of assistance for the SME sector. Budget 2025 includes substantial tax cuts and cost-of-living relief totaling €3.2 billion, aiming to attract individual voters ahead of upcoming elections. Taxpayers benefit from income tax cuts, credits, and energy subsidies, making many €1,000 better off. However, small businesses feel overlooked, receiving only minimal aid while facing increased labor costs, including a rise in minimum wage and pension costs. Despite expectations, no direct measures were introduced to reduce employers' PRSI to relieve these burdens, with critics noting that targeting voters took precedence over structural business support. This budget’s focus on personal giveaways may stimulate short-term consumer support but misses an opportunity for balanced economic sustainability, leaving SMEs with mounting cost pressures. Do you agree with this analysis? #Budget2025 #TaxRelief #SupportSMEs To read the full article click on the link below https://lnkd.in/eYH_rz9z

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Irish tax revenue growth continues year on year with strong performances in income tax, VAT and corporation tax.

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Irish tax revenue growth continues year on year with strong performances in income tax, VAT and corporation tax.

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Irish tax revenue growth continues year on year with strong performances in income tax, VAT and corporation tax.

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Do you know how crucial your income and spending habits are when applying for a mortgage? Lenders review your income and expenses over at least six months to assess repayment capabilities. Building a consistent saving habit and managing outgoings prudently can enhance your appeal to lenders. Reducing unnecessary expenses and boosting your savings are vital steps to secure a favourable mortgage offer. Financial stability is key. Learn more about how managing your finances can prepare you for mortgage approval as a first-time buyer: https://lnkd.in/enQ6eUbT

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Upcoming investment trends look promising with 79% of investors planning to grow their Irish operations in the next 12 months. Financial Services and Pharmaceuticals & Chemical industries are leading the charge with the strongest investment intentions. Download the EY Attractiveness Survey 2024 to gain insight into the sectors that are capturing the attention of investors - https://lnkd.in/eEFXBCvE #FDI #ForeignInvestment #investment

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Upcoming investment trends look promising with 79% of investors planning to grow their Irish operations in the next 12 months. Financial Services and Pharmaceuticals & Chemical industries are leading the charge with the strongest investment intentions. Download the EY Attractiveness Survey 2024 to gain insight into the sectors that are capturing the attention of investors - https://lnkd.in/eEFXBCvE #FDI #ForeignInvestment #investment

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