In this Issue
How to Find Your Best Selling Price
10 Predictions for 2012
Redundancy Rebate
Agency Workers Directive
2012 Personal Resolutions
Company Secretary's Duties
Deadline & Reminders
PM Services
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Parfrey Murphy

Our aim is to help our clients increase their profitability, improve their cash flow and reduce their tax liabilities so that they have more disposable income. As trusted business advisors who provide peace of mind to our clients, we have an absolute focus on client service. We provide an unconditional, 100% risk free, guaranteed, service with fixed fees agreed in advance wherever possible. We are Registered Auditors, Tax Consultants, Business Advisors, Payroll and Accounts Outsourcing Specialists, Insolvency Practitioners and Forensic Accountants. Please feel free to call us if you wish to do business with us.

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How to Find Your Best Selling Price
by Noel Murphy

 
Noel Murphy

It is absolutely essential to realise that:

  • the perceived value to the customer must be greater than the price or they won't buy.
  • Your price will not ultimately be determined by you but by what your prospects are prepared to pay.

Minimum price

You should always have a minimum price below which it doesn't make sense to sell your product. You've got your overheads to cover and the minimum amount you need to earn to cover your personal living costs.


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10 Predictions for 2012
by Seamus Parfrey

I strongly advise you not to read this article if you want to keep your sanity. The following are my predictions for 2012:

  1. House prices will keep on falling.
  2. Ireland will not win the Rugby Six Nations.
  3. Unemployment and emigration will continue to rise.
  4. Ireland will not reach the Quarter Finals of the European Championships.
  5. Banks will not lend despite what they say.
  6. Munster will not win the Heineken Cup.
  7. Ireland will restructure or default.
  8. Manchester City will not win the Premiership.
  9. Civil unrest due to economic circumstances will surface.
  10. The nation's health will deteriorate due to economic hardship and stress.

Redundancy Rebate
by Mary Blyth

 
Mary Blyth

As part of Budget 2012, the rebate to employers on statutory redundancy payments made to their employees is to be reduced from 60% to 15%, This is effective from 1st January 2012.

This reduction in the rebate applies to all payments made to employees on or after 1st January 2012.  Therefore employers who have issued notice to employees and agreed severance terms before this date will not be able to avail of the 60% rate, unless the date of termination is prior to 1st January 2012.

The change to the rebate has been widely criticised, particularly for its impact on small to medium sized organisations who may find it difficult to cover the additional cost.  Employers groups have called for a transition period for its implementation, to allow for the higher rebate in situations where notice of redundancy has already been served on employees or where a collective redundancy has been notified to the Minister for Jobs, Enterprise and Innovation.

If you require any advice on the above please feel free to contact me on 021 4310266 or email at maryb@parfreymurphy.ie.


Agency Workers Directive
by Mary Blyth

The Minister for Jobs, Enterprise and Innovation, Richard Bruton, published the Protection of Employees (Temporary Agency Work) Bill 2011, on Friday 16th December 2011. The bill was due to be transposed into Irish Law by 5th December 2011.  It would normally be assumed that there is no obligation to implement the terms of the directive until national legislation is enacted.  However, the Minister has stated that the requirements of the directive will have a retrospective effect to 5th December, meaning that its provision will apply to all employers from that date.

The main provisions of the bill are – All temporary agency workers are entitled to equal treatment in terms of pay and basic working conditions as if they were directly recruited by the hirer to the same job


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2012 Personal Resolutions
by Seamus Parfrey

 
Seamus Parfrey

I know that if I publicise my aims and aspirations for 2012 it will help me to achieve them so here goes:

  1. Stay healthy.
  2. Go the extra mile for clients.
  3. Identify and help clients to increase their profitability and improve their cash-flow to enable them to survive.
  4. Have an all-firm 100% focus on client service.
  5. Install a paperless office environment to improve client service.
  6. Develop and improve staff skills.
  7. Systemise all procedures.
  8. Empower all staff.
  9. Stay 100% positive at all times despite my 2012 predictions.
  10. Stay healthy. It’s in twice as without it I have no chance with my other resolutions.

Feel free at any time to ask me how I am doing as it will keep me focused.


Company Secretary's Duties
by Seamus Parfrey

There is an express statutory duty on the Secretary of a company to ensure that the requirements of the Companies Act are complied with by the company.

The functions of a Secretary are essentially administrative not managerial. A Secretary commonly:

  • Provides comprehensive and administrative support and guidance to the Board of Directors.
  • Ensures that the Board’s decisions and instructions are properly carried out and communicated.
  • Has responsibility to ensure that the company complies with all relevant statutory and regulatory requirements.
  • Has responsibility for communication with the shareholders when required.
  • Executes important documentaton on behalf of the company with directors.

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Deadline & Reminders
by Sinead Herlihy

 
sinead

Deadline - 14 February 2012 

  • Return and payment of dividend withholding tax for January 2012.
  • Return and payment of professional services withholding tax for January 2012.
  • Return and payment of relevant contracts tax for January 2012.
  • Return and payment of PAYE / PRSI for January 2012.

Deadline – 15 February 2012

  • P35 Return for the year ended 31 December 2011.
  • RCT 35 Return for the year ended 31 December 2011.

Deadline - 21 February 2012 

 Corporation Tax

  • Preliminary corporation tax for accounting periods ending 31 March 2012.
  • First instalment of preliminary corporation tax for accounting periods of large companies ending 31 August 2012.
  • Corporation tax returns for accounting periods ended 31 May 2011.
  • Balance of corporation tax due for accounting periods ended 31 May 2011.
  • Third party information returns for accounting periods ended 31 May 2011.

Where returns and payments are made electronically the return and payment deadlines are being extended to the 23rd day of the month.

If you require any advice on the above please feel free to contact me on 021 4310266 or email at sineadh@parfreymurphy.ie.

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