1. Form P.12ABefore starting work, each employee must contact their local tax office and complete a form 12A. This calculates the credit due. 2. Notice…

Corporation TaxThis is a tax on company’s profits. The govt. has reached an agreement with the European Commission for the introduction of a 12 ½…

The PAYE system. Employers deduct the tax automatically from their employee’s wages and pass it on to the revenue commissioners. This system is progressive, so…

For purposes of measuring income and preparing financial statements, the life of a business is divided into a series of accounting periods. This practice enables…

The number of adjustments needed at the end of each accounting period depends entirely upon the nature of the company’s business activities. However, most adjusting…

If you have employees, chances are you owe them a certain amount of wages at the end of an accounting period. If so, an adjusting…

Typically, insurance premiums are paid when coverage begins. So if you paid for an insurance policy during the accounting period, you probably bought coverage for…

Typically, insurance premiums are paid when coverage begins. So if you paid for an insurance policy during the accounting period, you probably bought coverage for…

Do you maintain an inventory of merchandise for sale to your customers? If so, you need to physically count the items that are in your…

If you are earning interest income that will be payable sometime after the end of the accounting period, you need to make an adjusting entry…