CACM Accountants — Certified Public Accountants

Dear Reader,
 

Welcome to our February ezine. Spring, is finally here, allthough not weatherwise. This months ezine will concentrate on our usual protecting your business series, important payment dates for revenue, and some information on mortgage interest relief. We will also be keeping an eye on the Consumer price index in future editions.
The overall KBC Ireland/ESRI Consumer Sentiment Index was higher in January at 64.6. This compares to a figure of 53.3 in December. This reading is the highest reading since January 2008. This compares to an alltime low of 39.6 in July 2008. This sentiment shows cautious optimism in the Economy, but the figures are moving in the right direction. Austin Hughes of KBC Ireland has stated that it is the first time in 4 years that there has been an improvement in all five aspects of the CPI. Lets hope that this trend continues.
In the meantime, if you require further information on any of the topics covered in this email, please do not hesitate to contact us . Thank you for reading
 

Carla Manning ADCA, CPA

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PROTECTING YOUR BUSINESS SERIES

Planning & Budgeting

A well-run business will have controls and procedures in place to monitor the business as well as providing means of gathering relevant information in order to monitor the business on its way to achieving its goals and objectives. Controls also provide an early warning that something maybe wrong.
Most people would associate such procedures and controls with very large organisations, however, planning, budgeting and forecasting are vital tools for SMEs as well.

Strategic Plans & Business Plans
 

Every business should have a strategic business plan which is vital to developing a long-term view of where business is going and how it plans to get there. When a business is considering raising finance, the plan for finance providers needs to include a significant amount additional information in order to provide new parties with a better understanding of the business. It usually contains information about the history of the business, the owners/managers and key personal, range of products and services as well as financial information (historical and projected).The purpose of the plan is to enable the business to sell itself to potential investors and finance providers.

Budgeting

Now, more than ever it is vital that all businesses prepare an annual budget to decide a plan for the business in the following years. It is important that the budget is reviewed on a regular basis in order to measure progress and monitor as to whether the business is achieving its targets and if not, then why not.
If an SME does not have the resources in-house to prepare the information, accountants can help to devise a simplified system of planning, budgeting and forecasting which summarises key performance indicators and provides a feedback mechanism. After all, it is of no benefit to have set targets and budgets if they are not being reviewed regularly and actions agreed where significant variances arise. Contact CACM Accountants through our contact form here or telephone us on 021 421 7474 for further information.
 

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RETURN AND PAYMENT DATES FOR THE MONTH OF MARCH 2010

March 14th; PAYE/PRSI: P30 monthly return and payment for February 2010
DWT: Return and payment of DWT for February 2010
PSWT: F30 monthly return and payment for February 2010
RCT: RCT 30 monthly return and payment for February 2010
 

March 19th; VAT: Bi-Monthly VAT 3 return and payment (if due) for period January/February 2010
 

March 21st; Corporation Tax:
Preliminary Tax for Accounting periods ending between 1-30 April 2010
Returns for Accounting Periods ending between 1-30 June 2009
Pay Balance due on Accounting Periods ending between 1-30 June 2009
Returns of Third Party Information for Accounting Periods ending between 1-30 June 2009
 

March 31st ; Income Tax:
Return of Share Options and other Rights for 2009
Deadline for claiming Separate Assessment for 2010
Deadline for nominating Assessable Spouse for 2010
 

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Mortgage Interest Relief;
Recommence Loan Account for Tax Relief at Source (TRS)
If you have recently received a letter from Revenue seeking additional information regarding your mortgage and if you believe that you have continued entitlement to TRS on the mortgage account number(s) quoted in the letter, go towww.revenue.ie, follow the link “Recommence Mortgage Interest Relief” on the Revenue home page and complete the details as required.
You may need to do this if for example you switched loans, consolidated loans or got top up loans. Further details maybe required from revenue.

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SERVICES CACM Accountants PROVIDE

Taxation Service & Advice - Accounts Preparation - Audit - Payroll Services - New Business Start Up - Company Secretarial - Outsourced Accounting Services
- Management and Business Advisory Service - Litigation & Forensic Accounting
 

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CACM Accountants strive to offer the best possible service for its clients. With vast business experience, across many business sectors, we will always keep our clients at the heart of our firm.

CACM Accountants, Atrium Business Centre, Blackpool,Cork. To ensure our emails reach your inbox please add News@CACMaccountants.ie to your address book. To unsubscribe from our ezine send us a reply e-mail by clicking here. This E-zine is intended to provide a general guide to the subject matter and is in a condensed form. Advice should be sought from a professional advisor before acting on any information in it.
© CACM Accountants
 

CACM Accountants strive to offer the best possible service for its clients. With vast business experience, across many business sectors, we will always keep our clients at the heart of our firm.

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