Tax Compliance Services

If, like many business owners, you are not confident that you have the knowledge and resources needed to prepare your annual accounts and file your tax return, this is where outsourcing your bookkeeping and tax to GroForth can give you peace of mind.

Our Tax Compliance Services

We tailor our tax compliance services to suit your individual needs. Our services include:

VAT: We can reconcile or review your VAT reconciliation before the VAT deadline.
RTD: This Return of Trading Details is completed annually. We reconcile the VAT and ensure that the RTD is verified and filed with the Revenue.
RCT: This Relevant Contracts withholding tax applies to certain payments by principal contractors to subcontractors in the construction, forestry and meat-processing industries.
PAYE Modernisation: This came into effect on the 1st Jan 2019. It ensures employees and employers have up to date tax credit and tax band information for payroll.
INTRASTAT: Intrastat is the system for collecting statistics on the trade in goods between European Union member states. In addition to goods that have been bought and sold, Intrastat also covers goods that have moved between EU countries for other reasons.
VIES: VAT Information Exchange System. VIES provides a mechanism whereby checks can be made in each EU Member State on the validity of claims to zero- rating. It helps to detect unreported movements of zero-rated goods between EU Member States.
MOSS: MINI ONE-STOP-SHOP. The Value-Added Tax mini one-stop-shop (MOSS) scheme is a simplification measure. MOSS reduces the administrative burden and cost on business for the supply of telecommunications, broadcasting and electronic services to non-taxable persons.

Benefits of Outsourcing

For many GroForth clients, a key benefit of outsourcing their tax compliance to us is the peace of mind they get from knowing their accounts are up to date and they are ready to meet their tax filing deadlines. Other benefits include:

- Compliance: We keep up to date with legislation, so you don’t have to.
- Expertise: Our ACCA accredited staff members and bookkeeping team can provide accurate advice and assistance to you with filing taxes.
- Convenience: We schedule reminders of your tax deadlines and ensure that your outstanding queries are reconciled on time. We will calculate your tax liability (or refund if a refund is due) and we can file the return on your behalf.
- Consistency: Eliminate the risk of relying on a single in-house bookkeeper — we provide a qualified and experienced team to ensure your tax deadlines are met, regardless of staff sickness/holidays.

Standard VAT Rate - 21%

1st September 2020 - 28th February 2021

Reduced VAT Rates - 13.5% , 9%, 0%

VAT Registration thresholds

SERVICES to the value of €37,500. PORDUCTS to the value of €75,000. In any continuous period of twelve months

VAT Registration Threshold for distance sellers

€35,000

FAQ's

When do I register for VAT?

You can elect to register for VAT or when you meet the VAT thresholds which can be found here .

When do I register for VIES?

When your business trades zero-rate goods, services or both to a VAT registered trader in another EU Member State must submit a VAT Information Exchange System (VIES) return.

When and how often are the deadlines for filing taxes?

Revenue should be notified immediately after entering into a relevant contract with a subcontractor. Before submitting the RCT contract notification, you must get and keep documentary evidence proving the identity of the subcontractor. Before you make a payment to a subcontractor, you must submit a payment notification to Revenue indicating the gross amount of the intended payment.

When and how often are the deadlines for filing taxes?

Tax deductions made must be paid to Revenue monthly by the 23rd of the month which follows the return period.

Testimonials

From the time that GroForth took over the books of my small business, I have had all my returns on time, I know exactly what my profits are, and where my main revenue stream is. Not only are they helpful and understanding of a non-mathematically minded person like myself, they make my accounts clear and accessible. I highly recommend GroForth to act as an external accounts department and provide accounts consultancy.u201d

" Groforth and the team have always been great to deal with and have always ensured we had the information we needed and helped us get our processes for RCT set up, it's great to have that kind of help when you are starting out."

Insights

Business lessons learned in 2020

The Covid-19 pandemic, coming as businesses were trying to prepare for Brexit, made 2020 a difficult year. Changes in how and where we work came

Benefit-in-Kind Exemptions – Office and Computer Equipment

With more people working from home, it is important that employers understand the tax implications of providing office and computer equipment for their employees, says