Dear reader,

Welcome to the second edition of the Sheehan Quinn & Company e-zine.

The income tax deadline is fast approaching so we have detailed the information required to prepare your return and a checklist to ensure you claim all the reliefs to which you are entitled. We have also highlighted some recent changes to legislation that may affect you.

We hope you benefit from reading our e-zine. Please send your feedback and comments us at info@sheehanquinn.ie.

Kind regards,

The Team at Sheehan Quinn & Company

Personal income tax returns 2010

The deadline for preparation and submission of 2010 income tax returns is fast approaching.

The deadlines for the current year are as follows:

• General filing deadline is the 31 October 2011.
• For those filing and paying through Revenue’s Online Service (ROS) an extended deadline of 15 November applies.

For full details and to download the common income tax reliefs checklist, please click here.

Tax relief for third level tuition fees Q+A

Have you or will you be paying third level education fees? If so, you may be entitled to claim tax relief on fees paid.

Click here to find out more.

Succession Planning – time may be running out.

It is expected that many of the remaining business reliefs will be removed or severely curtailed in the upcoming budget.

One such relief is Capital Gains Tax retirement relief.

Did you know that you may be able to transfer / dispose of all or part of your business to a third party for a value of up to €750,000 without incurring a liability to capital gains tax or indeed having to retire?

Click here for more.

Significant changes to Relevent Contracts Tax (RCT)

From 1st January 2012, all relevant contracts, including those that are ongoing at the end of December 2011, must be registered on-line.

Principals must notify all payments on relevant contracts to Revenue on-line from 1st January 2012. It will not be possible to notify a payment on-line unless the contract has been registered.

Click here for more.

Innovation Vouchers

Are you a business owner or manager of a small limited company with a company registration number? Do you have a business opportunity or problem that you want to explore? Why not apply for an Innovation Voucher worth €5,000?

Enterprise Ireland are offering these Innovation Vouchers which allow owners or managers to concentrate on running their business while knowledge providers come up with a solution that could take the business to the next level.

The next deadline is 30 September 2011 so visit http://www.innovationvouchers.ie today for
further information.

Voluntary Strike-Off - recent changes

Recently the Companies Registration Office changed the rules in relation to Voluntary Strike-Off. The main changes relate to the amount of assets and liabilities and the issued share capital of the company.

Click here for more.

We are recruiting!

We currently have positions available for trainee accountants.

If you know someone with a minimum 2.1 degree who is seeking a contract to train as a chartered accountant please have them forward their CV to recruitment@sheehanquinn.ie.