Are you claiming your full entitlements to Capital Allowances?

If you own a commercial property, you may be entitled to claim Embedded Capital Allowances, which will reduce your tax liabilities.

Embedded Capital Allowances are allowances for items of Plant and Machinery which are embedded or hidden in the overall fabric of a building. These comprise of items that are typically categorised as heating, electrical, security, fire/smoke alarm, lift installations, emergency lighting, sanitary ware, etc.

Capital Allowances often remain unclaimed because of a lack of appropriate documentation necessary to support a claim. Identification and quantification of these allowances is a specialist task which would be outside the scope of work included in the preparation of routine tax returns.

The amounts involved can often be substantial and can lead to both reductions in future tax liabilities and refunds of tax already paid.

Why Action is Required

• It is critical that this assessment is carried out before the opportunity to claim is lost. This is because changes in future Finance Acts, may not make this possible.
• Even if you don't have a current tax liability, once secured, these allowances can be held and utilised against future profits.
• They are of significant value and can be sold on with the building.
• Secured Capital Allowances may entitle you to an immediate tax rebate.

Please contact our office if you would like to organise a free of charge review of your entitlement to these allowances.

If you have purchased/developed commercial property or carried out extensions/alterations/refurbishments of a commercial property, it is probable that you have unclaimed Embedded Capital Allowances.

Please contact our office as soon as possible on 01 478 6600 to discuss whether a claim would be appropiate for your premises.

If necessary we will organise a review of your premises by one of our specialist capital allowances surveyors, free of charge, who will asess the eligibility and approximate value of a successful claim.

Why Cloud Computing works for Anne Brady McQuillans DFK

In 2011 we moved our servers from a physical onsite structure over to a virtual (Cloud) structure. We would like to share our very successful outcome to this project with you in a seminar on the 2nd February at 8.30am in our offices.
  The process The idea is that this presentation will provide business owners with an understanding of the implications and benefits of moving into the cloud and how I could help you to ensure the project is successful.

I will present this seminar in a simplistic form under the following topics

• What is cloud computing?
• Why we made the decision to change.
• The steps involved to successful migration
• The benefits and advantages of achieving our goal, server shut down
• How I can help you
   

Booking is essential As we need to confirm numbers in advance of the seminar, I would appreciate if you would provide us with the names of those who will be attending.

Please RSVP by Friday 27th January to Caroline Cassidy at 01 478 6600 or email ccassidy@annebrady.ie.

Interior Design Architect wins "Entrepreneur of the Year Award"

We are very proud to announce that our client, Deirdre Hardiman, director of Hepburn Designs, was honoured with the 2011 "Female Entrepreneur of the Year Award" from Dublin City Enterprise Board. The awards took place on December 12th 2011 in the Civic Office on Wood Quay. Presided over by Greg Swift, CEO of Dublin City Enterprise Board and attended by all seven of the networking groups, Deirdre was presented with her award by Pat Lynch, chairman of DCEB.



Hepburn Designs

Hepburn Designs is a full service interior design house established in Dublin in 2009 by Interior Design Architect Deirdre Hardiman. In addition to offering full project management, Hepburn Designs has launched "Designer for a Day" a new, innovative interior design service. "Designer for a Day" gives access to the services of a designer at a reasonable cost and without the long term commmitment, starting from €299 for a half day.



For details of this service please visit www.hepburndesigns.ie or telephone Deirdre on 087 674 8967.

We would like to take this opportunity to remind you all of our Christmas Hours. We will close for Christmas Holidays on Thursday 22nd December at 5pm and reopen for business on Tuesday 3rd January 2012. During the Christmas break, the following staff will be available for any urgent queries;  
Anne Brady Partner 353 87 251 7600 Natalie Kelly Partner 353 87 888 5871 Colin Owens Audit Manager 353 87 276 2901 Shane Carroll BAS Manager 353 87 725 4143

The effect of the upcoming VAT rate change on your Computerised Accounting Package.

From the 1st of January 2012, the standard rate of VAT for the Republic of Ireland will be increased from 21% to 23%. The new 23% rate should be used on all invoices issued from then on. Full details about this change can be found on the Revenue website.

Steps to Change your Computerised Accounting Package

Take a Back Up

First of all, please unsure that you have taken a back-up of the relevant data-set before applying any of the changes detailed below. This will ensure you do not lose or change any important information.

Incorporating the 23% rate to your relevant accounts package

It is recommended that you CHANGE the existing 21% default rate to 23%, and then set up a NEW code for the old 21% rate. This assures that new invoices issued will automatically use the new 23% rate as default. If an invoice needs to be issued at the old 21% rate, you can select this from the new code you have set up.

Changing VAT rates in different Accounting Packages

Amending the VAT rates on most accounting packages is usually done through the dataset configurations. Here you can usually set up new VAT rates, and also set the default standard rate to be used in all relevant transactions.

Examples of how to change the following commonly used accounting packages:

TASBooks: Central / VAT Rates and Reporting / Maintain VAT Rates, (program 031).
Sage 50 Accounts: Settings / Configuration / Tax Codes

For more detailed assistance or queries, please contact Shane Carroll, Business Advisory Services Manager on scarroll@annebrady.ie or 01 4786600