Summer Newsletter
Summer Newsletter:
The months are absolutely flying it, the beginning of the 6th month of the year. Welcome back to businesses who have reopened over the past few weeks, and we welcome businesses and the hospitality sector to open next month. It’s been a challenging 15 months or so but we are moving in the right direction.
Exciting News on my part:
I have finally got my website published, it was one of those decisions I hummed about it firstly before I decided to take the plunge and do it, as I had Mini Media looking after my website for my holistic business so Sinead Carroll looked after the Bookkeeping one, you will find it at www.gracesbookkeeping.com. I cannot recommend Sinead more highly her website is : https://minimedia.ie/company she is an absolute gem to deal with.
I am offering mentoring for businesses both for start up businesses as well as established business. What I find when working with clients that as soon as the word Finances is mentioned automatically like a gate goes up and I meet resistance straight away. With my mentoring skills I work with the client and see where can I can help them with and enhance a relationship with the client and finances. I help the client to have a better understanding of their accounts, and help client to overcome the overwhelm with bookkeeping. I also provide tools to clients especially with start ups of what they need to do, and where they can go to find out more information to help them with their business. If this is something that is resonating with you can pop to https://www.gracesbookkeeping.com/mentoring
TWSS: Temporary Wage Subside Scheme Reconciliation:
If you availed of the TWSS please just check your Revenue Inbox to look at this report and review same, and then file same which is to be done by the 30th June for any amendments after that date amendments cannot be done.
Returning to work and on the PUP Payment:
If you have returned to work please ensure that you are off the PUP Payments, tax credits roughly take about 7-10 working days to be amended after you have come off the PUP payment. The PUP payment you have received in 2021, Revenue offset the tax liability arising for same against your tax credits so you won’t have a tax liability for the PUP payment like what happened in 2020. If your on the PUP payment and need to come off it, just go onto https://services.mywelfare.ie/
Working from Home:
If you are working from home, you can may be able to claim a portion of your electricity or your Broadband in relation to same providing your employer is not giving you an allowance toward this. You can find out further information on the below link
https://www.revenue.ie/en/jobs-and-pensions/eworking/index.aspx
Income Tax Deadline:
If you are paying via paper format so filing out the form and posting is the 31st October 2021
If you are filing your return online it is the 17th November 2021.
So don’t leave it to the last minute, you can never give your information to your accountant too early, the earlier you give it the more time you have to put together the money for any liabilities arising and also a reminder you can set up a direct debit to pay the liability due before your Income Tax is filed.
Tops Tips for the Summer:
1. Try and book some time off for yourself and your family or with friends, I find by putting down a specific date it helps us to focus and to work towards that date. It is so important to look after ourselves and to give ourselves the opportunity of just switching off.
2. If your experiencing the financial strain at the moment reach out talk to a friend, or if its financial strain in business talk to the suppliers you may owe money to see can you arrange to get a repayment plan set up, or talk to your accountant. I find by having open communication is very important in every business no matter how big or small you are. A problem shared is a problem halved.
3. If you’re a new set up business or thinking about it look at your local enterprise office, they have fantastic courses to offer and can be done online so you don’t need to travel.
4. If you haven’t your accounting information submitted just liaise with your accountant to see when you can get the information to them, and start putting all your information together and maybe ask the accountant if they have a checklist of everything they need from you it’s a lot easier that way.
If there is anything on the above that I can help you with just reach out, and I will gladly help you.