At John Maguire & Co we can help you from day one. From advising you on your company structure and set-up to helping you with book-keeping and finding you the best tax saving position. We understand the implications of the different types of business ownership and are here to advise you right from the very beginning. As a Sole Trader, we can offer you a number of accountancy solutions and although this is one of the simplest ways to get started in business, there are many processes that need to be followed to ensure a smooth tax assessment each year.
A business partnership shares control, responsibility and finances between two or more people. Partners would take on full liability for any debts incurred by the business and all profits would be shared equally. Ordinary partners also take on equal responsibility and decision-making in the running of the business. Another option for your business structure is to operate as a limited company. This will provide access to a number of tax planning strategies and limited liability status but consideration should be given to the additional accounts that must be filed on behalf of Directors and shareholders which are open to public scrutiny.
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Great and very professional accountants company always very helpful and they always have got your side , been a client now for 6 years and never once had an issue. Thanks
Total loss when it comes to the revenue this is the company for you they sort every thing out there quick they speak English and no big words that you can't understand thank you John and Co.
There are advantages and disadvantages to each of these structures and consideration should be given to commercial risk, expected profitability, financing and of course tax planning preparation and VAT. Sole Traders, Partnerships and Limited Companies are all required to keep details of their financial transactions. It mainly involves keeping records of sales, purchases, income and expenditure. However specific standards and formats are expected to be fulfilled and annual accounts prepared. Our approach is to communicate regularly with our clients throughout their financial year, discussing any issues that have arisen, together with future plans that may affect the accounts and tax position of the business.
There are many reasons why a business should prepare annual accounts although perhaps the key reason is to ensure that the tax liabilities of the business are calculated correctly and the CRO deadlines are met. It is therefore essential that the year-end accounts are prepared accurately and fully reflect the transactions affecting that accounting period.
Why not contact us and see which one would be most beneficial to you and your business objectives?
Our specialists have expertise in a wide range of areas, and experience working with organisations of all types and sizes.
We are an established firm of Accountants based in Palmerstown. We are dedicated to providing quality accounting, business and taxation advice at an affordable price.
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