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Accounts Preparation

Accurate, up to date and fully understood numbers are key to running a successful business.

We provide full statutory and abridged accounts (for companies). We can produce monthly or quarterly management accounts.

Accounts are prepared to agreed timescales and deadlines. We can do more than just report on what has already happened. We will analyse them to highlight opportunities for future improvement and help to minimise tax liability. We will present information clearly and explain any recommendations in a straightforward manner. We will help to ensure that you and your business complies with reporting regulations.

We can take the headache out of form filling; we can prepare the Form 11 for sole traders and company directors, Form CT1 for companies, Form F1 for partnerships, annual return for the Charities Regulator for Charities and funder requirement reports, Law Society report for solicitors, and FSSU report for schools. We can prepare and submit all your company secretarial documents with CRO. Submissions are made online.

Bookkeeping

You can outsource your bookkeeping function to our efficient and experienced bookkeeping team who will provide all the administrative support you need. They will process your paper transactions or scan and email them straight to our bookkeeping software. Either way, we will deliver considerable savings, in time, effort and money.

Business Plans, Advice & Planning

As business advisors we are well placed to offer objective strategic business support.

We will take time to listen to your needs and get to know your business inside out. We will operate in partnership with you to help you achieve your goals with an action plan to get you where you want to be. We will help you to remove any obstacles that are in the way and help to benchmark you against similar businesses.

A business plan is a written document that describes your business covering objectives, strategies, sales, marketing and financial forecasts. It can help you to clarify your business idea, spot potential problems, set out your goals and measure your progress.

You will need a business plan if you want to secure investment or obtain a loan from a bank and we can help you with the loan application too.

Business Valuations

A business valuation is useful for monitoring how your business is performing against goals.

In addition to estimating the value of a business for sales, purchases and mergers, the same valuation tools are often used for raising finance, company share buyback, tax planning, pension and exit planning, financial reporting requirements and many other business and legal purposes such as in shareholders’ deadlock, divorce litigation and estate contest.

Capital Gains Tax (CGT) & Capital Acquisitions Tax (CAT)

Are you thinking of giving a gift or have your recently received a gift or an inheritance?

If so you may be liable to Capital Gains Tax (on giving) or Capital Acquisitions Tax (on receiving).  Contact us to discuss the tax implications, and best way to proceed.

Cloud Accounting Software

We advocate the use of Cloud based accounting software, and currently use Xero and Quickbooks for our clients. Cloud accounting software allows you to access your information in real time, wherever you may be, logging in from any smart device.

Company Formation & Revenue Registration

We can help set up your company and file all the necessary paperwork with the Companies Registration Office.

Company Secretarial

We can help to ensure your company complies with all the Companies Registration Office requirements.

Farm Accounts

Our founders have a strong farming background and so we are ideally placed to offer excellent advice and tax planning.

Financial Services

We can provide financial services through an associate. Please get in touch if you would like to discuss.

Grant Applications

We can help with applications for Covid grants, SUSI grants, Enterprise Ireland Grants, local authority grants, LEO grants etc.

Income Tax Preparation & Revenue Submission

It is very important to get excellent personal tax advice to ensure that the tax you pay is kept to a minimum.

More and more emphasis is being put on taxpayers’ individual responsibilities and anyone who is subject to paying tax needs professional advice if they are to optimise their tax position and ensure they meet compliance requirements.

We can help you plan ahead to reduce both current and potential liabilities. We ensure that all available reliefs, exemptions and allowances are claimed. We take time to understand your circumstances and future plans so that we can tailor our advice to suit your needs.

We can prepare and submit returns, help with inheritance tax planning and tax services for trusts & estates, family business & succession planning and capital gains tax planning. It is very important to get professional advice for personal tax affairs to ensure that tax is kept to a minimum.

Law Society Accountants Report

Solicitors are obliged to file a report with the Law Society each year which gives details of compliance with the Solicitors Accounts Regulations. This report is prepared by an accountant who reviews the client accounts, office accounts and bookkeeping records for any non-compliance with these regulations.  We have the expertise and software to carry out the work involved in preparing this specialised report to the agreed deadlines.

Payroll Processing

Payroll is complicated and must be done on time. The primary mission of the payroll department is to ensure that all employees are paid accurately and timely with the correct withholdings and deductions, and taxes are filed consistently and accurately.

With the introduction of PAYE modernisation all wages/salaries need to be reported to Revenue before the payment is made to your employees. We can take the strain away from you and let you get on with running and growing the business, while ensuring you are compliant with Revenue’s regulations.

Pension Planning

We can put you in contact with our trusted pension planners.

PSRA Reports

Connolly Accountants have many years’ experience in bookkeeping and accounts preparation for auctioneers and estate agents and we offer expert and cost effective services to property agents across the region.  This industry is heavily regulated when it comes to client monies but we will provide the comfort of knowing all necessary systems and protocols are in place so the regulations are followed and that your PRSA Annual Report will be prepared in a timely and accurate manner.

Raising Finance

Through close working relationships with finance sources we can advise on the right type of finance for you and offer advice on bank loans, hire purchase, leasing, venture capital and private investment sources.

Registered Office

You can use our office address as the registered office for your company. This will also ensure all important documents come straight to us to deal with on your behalf straight away.

Relevant Contracts Tax

If you are a Principal contractor, and have sub-contractors, you need to inform revenue each time you make a payment to your sub-contractors, and you need to know whether to stop RCT on the payment. We can make these payment notifications to revenue on your behalf and advise on the rate of RCT to be stopped.

Rental Income Accounts

Are you a landlord? We can produce rental income accounts for you, for submission with your income tax return.

Start-up Advice

Registering as a new business- whether as a sole trader, partnership, limited company or company limited by guarantee. We can advise on which is the most appropriate business entity for your business needs.

Tax Planning, Preparation & Submission

Tax planning is one of the most effective ways to add value to a business and contribute to its success.

We aim to minimise tax liabilities for all our clients, combining business and commercial expertise with technical knowledge to provide innovative advice on tax planning to help clients make significant savings. This stretches from advising on the most appropriate structure for your business; limited company, partnership, right through to retirement and exit planning.

By understanding our clients’ goals, we can help them plan in a tax efficient manner and make the most of available tax reliefs without losing sight of their commercial objectives.

Rest assured, the paperwork and the deadlines are all kept up-to-date and in control. We ensure compliance with all legal and statutory obligations. The rules appear complex and irrational at times and are always changing but we will take care of everything. We prepare computations, submit tax returns and deal with any revenue queries or issues.

VAT Registration & Returns

We will advise on VAT registration; whether you need to or if it would be beneficial to be registered for vat and apply on your behalf. Ideally, we will take care of your bookkeeping requirements together with completing your vat returns on a bi-monthly, four-monthly, six-monthly or annual basis. You provide us with your sales and purchases information, and we will do the rest.

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They are always friendly, approachable and deal with all matters in a very efficient manner.

Colette Reynolds, Hair Square, Longford
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Extremely efficient, professional and reliable service provided by Patrick at Connolly Accountants.

Ciaran & Colm McGrath, Newtownforbes, Co. Longford

No matter what you need, we can help you and your business

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How can we help you?

To see how Connolly Accountants & Business Advisors can help you, search for a service.

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