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Liam Burns and Co


In the safe hands of Liam Burns, Chartered Certified Accountant and Chartered Tax Adviser, you can be guaranteed that you will get a personalized service from the principal of the firm. You will not only be fully compliant but also as tax efficient as possible.

From start to finish, he will provide all tax services and advice, leaving you to get on with your day job, knowing everything is under control. Furthermore there are no less than 900 tax codes out there so you will need somebody who can pay attention to your individual circumstances in order to save as much tax payable as possible.

Call us on (01)567 7380 for further information.

Sole Trader to Limited Company Migration

Have you been operating your business as a Sole trader or Partnership? Confused as to whether or not you should still be trading as such? Is it time to change to a Limited Company Structure? When, why and how should you do it?

From a tax saving point of view – the optimal time to convert from sole trader/partnership to a limited company is after the net profits of the business exceed the standard income tax cut-off rate i.e. €33,800 for a single person.

The above is just one of the reasons to operate as a company.

Please contact Liam Burns at (01)5677380 for more information.

Thinking of starting a business?

Liam Burns & Co Accountants and Tax Advisers specialise in business startups, providing essential advice and information required for individuals starting new businesses or new companies, guiding you every step of the way and assisting with all aspects of your business.

Our services include:

Registration with relevant authorities (FREE)
Assistance with Business Plans/Cash flows/Forecasts
Assistance with obtaining finance/loan applications
Annual Accounts preparation
Management Accounts as required
Company Secretarial Services
Bookkeeping (Full service or Client initial training)
Payroll (Full service or Client initial training)

For more advice and information about starting your own business, contact us at (01)5677380.

Company Secretarial Services

Liam Burns and Co provide advice and services in relation to all aspects of a business’ reporting obligations to the Companies Registration Office (CRO), including preparation and submission of forms and documents required by law to be furnished to the CRO.

For more information or assistance in preparation of any of the above, please contact Liam Burns at (01)5677380.

Corporation Tax. Who is liable?

All companies resident in the state or companies that carry on a trade in the state through a branch/agency are liable to corporation tax (subject to certain exemptions).

Liam Burns and Co guarantee that clients are compliant with the regulations and ensure companies are structured efficiently to avail of any corporation tax exemptions and reliefs available.

Please contact me at 01-567 7380.

Personal Tax Advice Service

Who Needs to File a Tax Return?

‘Chargeable Persons’ – generally self-employed persons but also people with another source of income other that PAYE Income. For example:

Persons in receipt of Rental Income or Investment Income
Directors owning >15% of the ordinary share capital
Persons that opened a Foreign Bank Account of which he is the beneficial owner of
Persons in receipt of gain from share option
Persons acquiring a Foreign Life Policy
Persons acquiring a material interest in an offshore fund

Feel free to contact Liam Burns & Co at (01)5677380 if you need any assistance with preparing and filing returns or for a personalised quote.

Some of the advantages of Management Accounts

Obtaining Finance

Financial institutions or external investors will be more inclined to offer finance to a company where solid management accounts are prepared on a regular basis. It provides confidence that the business owners are in control of the business and it processes.

In many cases, it is now a requirement of banks that up to date management accounts are provided before any finance or increases in overdraft facilities will be made available.

Making Key Decisions

Regular management accounts can assist management and owners in making important decisions such as whether or not to hire additional staff, use subcontractors, invest in advertising and promotions, continue or discontinue producing certain products and decide on optimal levels of stock.

Management accounts will provide up to date data and analysis of data to assist management in these decisions. Comparable figures with the previous period or the same period in the previous year allows management to quickly identify areas of improved performance of the business.

For example, if a decision were made to do an advertising campaign for a period during the year, management accounts would help identify the impact of the advertising by comparing the turnover in the a certain period against the turnover in the previous period or same period in the previous year. Inevitably, other factors may have influence but accounts can help identify these factors.

Business Growth

Understanding the factors that help increase revenue and decrease costs can assist management in actively growing the business. Management need to know which products or services are most profitable – management accounts help identify how the business can focus more on the more profitable revenue streams and/or lower costs associated with less profitable products/services.

Cash Flow

Management need to know how long the cash in bank will last and how much cash needs to be collected to meet the requirements of outgoings.

Quality management accounts will be accompanied by a cashflow statement and a cashflow forecast. This allows management to quickly assess what cash resources are available and the cash inflows and outgoings that are expected in the coming periods. This is vital part of any business and needs due care on an ongoing basis.

For more information contact Liam Burns at (01)5677380.

Annual accounts Preparation For Owner-Managed Businesses
Whether a Limited Company, Sole Trader or Partnership the standard annual accounts prepared by Liam Burns and Co are ready for use in the following ways, if required;

Accounts for Companies Registration Office – we prepare and submit all companies returns and documents as standard part of our annual accounts.

Accounts for Banks and other Financial Institutions required for application for finance or restructuring of finance – Our standard annual accounts are accompanied by a signed accountant’s report which will be accepted by financial institutions. We also prepare up to date management accounts, which are often requested by financial institutions in recent times.

Accounts for Revenue Commissioners: We prepare all related and relevant computations and where applicable , and submit to Revenue Commissioners ensuring you file and pay (as little as possible) on time.

Obtaining Added Value from Annual Accounts: We review the accounts relative to our client needs, and analyse where businesses can improve their systems to become more profitable. We act as a support for our clients, encouraging and guiding business growth.

For more information on our Annual Accounts Preparation/Submission Service, please contact Liam Burns at (01)567 7380.

Reasons To Change Your Accountant

Using an old-fashioned accountant
Not getting a personal service from highly qualified persons
Not getting any value from your accounts
Slow responses to phone calls and queries – when you need them most!
Returns not being filed on time
Getting late penalties and interest
Feel you get no benefits from the accountancy fees
Annual Accounts completed almost a year after the company’s year end
Contact with your accountant only once a year
Lack of Tax Planning and Advice and no tax savings
Not being notified of relevant changes and reliefs available

Changing Accountant in 3 simple steps

…and can be done at anytime during your accounting year

1. Call Liam on (01)5677380 or complete the enquiry form. Your enquiry will go directly to Liam Burns who will respond to you within 24 hours.

2. Click here to download the Revenue notification form

3. Complete the above form with your name and tax registration number and sign where indicated – Send via post or email to our office address

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