Audit

We are authorised by the ACCA to carry out statutory audits of companies in Ireland and the UK and have vast experience in this area. The annual audit in Ireland is a statutory requirement for all companies who do not meet the exemption criteria as outlined below. We endeavor to ensure that the utmost benefit is obtained by the company during the audit process and we seek to identify ways to improve the companys internal controls, finance function and financial performance through the course of the audit. While the main objective of the statutory audit is to provide an independent opinion that the financial statements are free from material mis-statement we ensure that the audit is carried out as efficiently as possible and liaise with our clients throughout the process thus adding value.

Audit Exemption Criteria

For periods ending on or after 7th August 2012 companies which meet the following criteria may apply for audit exemption.

- the Company is a company to which the 1986 Companies Act applies

- the amount of turnover does not exceed € 8,800,000

- the fixed assets plus current assets must not exceed € 4,400,000

- the average number of persons employed by the company does not exceed 50

- the company is not a parent undertaking or subsidiary undertaking

In addition to the conditions above the annual return of the company for the current year and the previous year must be lodged on time with the CRO.

Accounts

We are aware that many businesses do not have adequate resources or expertise to manage their finance function. Therefore we offer the following services:

- book-keeping service

- book-keeping service at the clients premises if desired

- accounts preparation including the preparation of bank, debtors and creditors reconciliations as required

- tax compliance - preparation and filing of tax returns on your behalf including VAT, PAYE/PRSI, RCT and Corporation Tax

- preparation of monthly or quarterly management accounts. The availability of management accounts on a regular and timely basis provides our clients with the information necessary to run their businesses efficiently and profitably.

Payroll

Our payroll department provides a wealth of experience and a broad range of services in the following areas:

- preparation and processing of weekly/fortnightly/monthly payroll

- organising electronic funds transfers

- provision of confidential pay slips and P60's

- preparation and filing of monthly/quarterly P30's and the annual P35

- preparation and filing of redundancy forms and P45's and advising on the structuring of termination packages.

- advice and implementation of procedures to reduce the business risks surrounding legislative payroll compliance and continuity

Company Secretarial

The firm offers the following services to assist directors in complying with Company Office Regulations:

- assisting with Company Formations

- preparation and filing of annual company office returns and ensuring that your business remains up to date with company law requirements

- preparation and filing of all other company office returns as necessary e.g. resignation of directors, change of address, change in share capital etc.

- registration of business names

- maintenance of company registers

- preparation of minutes of meetings

Taxation

Our aim is to provide a personal, professional and proactive service and this is evident in our approach to tax compliance. We endeaver to ensure that our clients are aware of their obligations with regard to both submission of tax returns and payment of tax liabilities. We work with our clients in preparing their returns, to enable them meet pay and file deadlines, thereby minimising their exposure to Revenue Audit.

In addition to providing assistance with tax compliance we also provide tax planning and consultancy services, advising clients on how best to structure their affairs to minimise their tax exposure. This is achieved by regularly reveiwing our clients affairs and providing timely advice with regard to their future requirements.

We are happy to provide planning advice on various areas including:

- Succession/Retirement planning

- Inheritance tax planning

- Sale of business/assets/land

- Business restructuring

- Tax based property developments

- VAT on property

Other Services

At Patrick McNamara & Associates (Cork) we provide many other services which provide value to our clients such as:

- preparation of Cash Flow Projections and Budgets for client information purposes and for meeting with the banks

- advise on the purchase of accounting software and support and training in it's use

- insolvency work - creditors voluntary liquidations, members voluntary liquidations, etc.

- Wealth Management, tax based incentives etc

- recruitment services

- business plans & financial forecasts

- new business start-ups