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News - 2021-10-07

New 12.5% VAT rate for the hospitality sector – updating your cloud accounting software

Throughout the pandemic the government introduced a reduced 5% VAT rate for sales made (or purchases from) the hospitality, holiday accommodation and attractions industry until 30th September 2021 to help the industry recover. From 1 October 2021 the new reduced tax rate will be 12.5% until 31 March 2022. WHAT DO I NEED TO DO? Update… The post New 12.5% VAT rate for the hospitality sector – updating your cloud accounting software appeared first on PKF Francis Clark.

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Queen’s University Honours Feargal McCormack
News - 2021-09-24

Queen’s University Honours Feargal McCormack

Queen’s University, honoured PKF-FPM Accountants Managing Director Feargal McCormack today (Friday 24th September 2021) by conferring an honorary degree of Doctor of Science in Economics (DSc Econ) for services to business and commerce, in the presence of new University Chancellor Secretary Hillary Rodham Clinton. In the degree citation, Feargal a former Queen’s graduate and past […] The post Queen’s University Honours Feargal McCormack appeared first on PKF-FPM Accountants.

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Capital Gains Tax | Property Sales
News - 2021-09-21

Capital Gains Tax | Property Sales

Q: I bought a three-bedroom house in Belfast 10 years ago when my children started going to university. Now that my kids have finished up at university I am considering selling this property. I expect it to have increased in value and I want to consider my tax position when I sell this property, will […] The post Capital Gains Tax | Property Sales appeared first on PKF-FPM Accountants.

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Operating a Permanent Establishment in the Republic of Ireland | The Tax Obligations
News - 2021-09-09

Operating a Permanent Establishment in the Republic of Ireland | The Tax Obligations

FREQUENTLY ASKED BUSINESS QUESTION I currently own a small company in Northern Ireland and have recently opened a new office in the Republic of Ireland as part of my existing NI company. Can you explain if I have any current tax obligations in the Republic of Ireland and should I incorporate a new company there […] The post Operating a Permanent Establishment in the Republic of Ireland | The Tax Obligations appeared first on PKF-FPM Accountants.

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News - 2021-09-08

PKF-FPM named Market Leaders in Transaction Services 2021

PKF-FPM’s corporate finance team has been awarded the inaugural Transaction Services Team of the Year Award by Insider at the Northern Ireland Dealmaker Awards 2021. The Transaction Services Team of the Year Award recognises the team that has advised and facilitated in the most exciting deals, by providing the highest quality transaction services throughout the year. […] The post PKF-FPM named Market Leaders in Transaction Services 2021 appeared first on PKF-FPM Accountants.

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News - 2021-08-20

Salary vs Dividend | Which is Best for your Business?

FREQUENTLY ASKED BUSINESS QUESTION Deciding between Salary vs Dividend when taking income from your company: I run a small company with my son and we are 50:50 owners. We have always taken salaries and bonuses as our reward from the business, as our company did not have reserves to pay us dividends. Now that the […] The post Salary vs Dividend | Which is Best for your Business? appeared first on PKF-FPM Accountants.

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News - 2021-08-19

Celebrating 30 Years in Business

  Celebrating 30 years in business… and what a journey it’s been! The team at PKF-FPM are thrilled to be celebrating 30 years in business on Thursday 19th August 2021, and extend sincere thanks to current and former staff, clients and all those who have been part of their story so far. As PKF-FPM marks […] The post Celebrating 30 Years in Business appeared first on PKF-FPM Accountants.

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News - 2021-08-10

Second Job Tax | Understanding the Issues

FREQUENTLY ASKED BUSINESS QUESTION I work for a local retail business that has been adversely affected by Covid 19. I have spent a lot of the last 18 months not working. Now that I am back working, I have been offered a second job to supplement my income. What would the second job tax implications […] The post Second Job Tax | Understanding the Issues appeared first on PKF-FPM Accountants.

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News - 2021-08-04

Self Employed Income Support Scheme (SEISS) | The Fifth & Final Instalment

FREQUENTLY ASKED BUSINESS QUESTION I have previously claimed the Self-Employed Income Support Scheme (“SEISS”). Will I automatically be entitled to claim the next payment? TAX TIP: What is the Self-Employed Income Support Scheme (SEISS)? The SEISS was introduced by the Government to help support self-employed individuals. A total of four support payments have been made […] The post Self Employed Income Support Scheme (SEISS) | The Fifth & Final Instalment appeared first on PKF-FPM Accountants.

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News - 2021-07-27

The Overlooked Inheritance Tax Exemption

___________________________________________________________________________ FREQUENTLY ASKED BUSINESS QUESTION I am considering making regular gifts to my adult children. Do I have to survive each of these gifts by 7 years in order for them to fall outside my estate for inheritance tax purposes or is there an Inheritance Tax Exemption for which the 7 year rule does not […] The post The Overlooked Inheritance Tax Exemption appeared first on PKF-FPM Accountants.

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