Tax Records

Worried about tax compliance

Unsure what records to keep?

Need help with VAT returns?

If, like many business owners, you are not confident that you have the knowledge to manage your tax affairs yourself, this is where GroForth can help.

Whether it’s registering for VAT or VIES, preparing for a Revenue desk audit or checking that you have the necessary documentation for your tax return, our team is on hand to answer your tax queries.

We provide tax compliance support for sole traders, entrepreneurial start-ups and SMEs.

Tax Compliance Services

Our services can be tailored to suit your individual needs and include bookkeeping and payroll support. Good record keeping is essential to avoid problems with Revenue which is why many of our clients outsource their bookkeeping and payroll to GroForth.

We can also help with:

VAT: We can ensure that you understand your VAT thresholds, rates and what you can and can’t reclaim. We will also review and reconcile 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. We can help ensure you comply with the RCT rules.
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. If you need to provide an Intrastat declaration, we can help with this.
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. If you are a VAT registered business supplying zero-rate goods, services or both to a VAT registered trader in another Member State we can help you with your VIES statement.
MOSS: MINI ONE-STOP-SHOP. The Value-Added Tax mini one-stop-shop (MOSS) scheme is a simplification measure for submitting returns and paying VAT to EU member states. We can explain the process and help you submit your return.

Businesses We Work With

GroForth provides tax compliance services for businesses across Ireland. Sectors we work with include beauty, healthcare, wellness, retail, hospitality and technology. We also provide support for accounting firms to help cope with capacity constraints during busy periods.

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

What are the advantages of outsourcing my tax compliance to GroForth?

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.

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 to file a Relevant Contracts Tax return?

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."