A major accountancy firm is on the hook for a €1.4 million tax bill after the Tax Appeals Commission ruled that its exam payments to trainees are taxable. Tax expert Eoin O'Shea examines what it means for other firms.
Dublin private equity firm Causeway Capital bought Patisserie Valerie out of administration following a collapse that has just seen the UK chain's former auditors fined over £2 million. It has not been an easy ride, but the new owners say they can turn the business around.
The volume of assets realised through members’ voluntary liquidations has increased nearly 30-fold during the first five months of this year. Why do so many shareholders agree to shut down their company and walk with the cash?
The principle established in this pathfinder case – that a retiring partner can make tax-efficient arrangements to exit the firm – will have implications for hundreds of partnerships around the country.
A major accountancy firm paid older partners to leave and clear the way for new talent. However, in a dispute that has implications for hundreds of other partnerships, Revenue is challenging the tax status of the payments. A High Court case looms.
Michael McAteer presided over the wreckage of the financial crash, steering brands from Eircom to The Sunday Business Post back from the precipice. He started as an office boy and worked his way up to become one of Ireland’s leading accountants and insolvency practitioners.
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