March 2018
March 2018
In this Month’s Issue Message from our CEO New Members ISME News HR: Absence Management FAQs Marketing: Marketing in a GDPR Era
ISME Survey: Quarterly Business Trends Report EDI: Time to Think Outside the Box
Tax Update
Click on any section to start
Message from our CEO Dear Members, The GDPR go-live date is approaching, and things are hotting up as companies prepare for it. You’ll find the dates for GDPR (and all) ISME courses here. DON’T leave it until it’s too late! It’s not rocket science, nor is it very expensive, but it will take some work. It’s nearly that time again, and here in head office we’re getting ready for our Annual Lunch in Croke Park on Friday 25th May. We’ll be announcing details here on these pages very soon, but please add the date to your diary. You don’t want to miss it this year! Last month, I noted our displeasure with the contents of the first report by the Personal Injuries Commission. Poor as that report was, it wasn’t half as bad as the Cost of Insurance Working Group Report published on 25th January. This report suggested that there were big problems with capping awards in the Book of Quantum. There aren’t. That is a barrack-room lawyer fallacy, being put about by lawyers who have their snout in the very large insurance trough. They will fight tooth and nail to maintain the status quo, which involves you transferring very large amounts of money to them via your friendly insurance company. We sought legal advice, and have responded to Minister D’Arcy in blunt terms, rejecting the misinformation in his Department’s report. We have asked him to appoint a representative for policy holders to the Personal Injuries Commission, because, as of now, there is no-one representing your interests on it.
Access to credit (and the cost of credit) remains a significant issue for many SMEs. We know that a great many of you are resorting to funding your business development from your own working capital. While that is good and prudent, especially where you’ve had a loan disapproval, it can also impact your future ability to raise debt finance. Please read the advisory note produced by the Credit Review Office on the subject. Remember - if you ARE financing assets or development from working capital, make sure you tell your bank. They will take this positively into account for the future. We’ve had a few calls from the (a very small proportion) of members who received an aged debtors’ letter in the last week or so. Of course, there are obvious reasons some firms could be on our debtor’s list and not know it - they might not have received invoices, or their address could have changed. If you are one of those firms, there’s no problem, just ring us, let us know, disregard and dispose of the correspondence you received. We will remove you from our debtor’s ledger and credit you off. But unfortunately, we do need to know where we stand with aged debtors over 360 days, as there is a significant amount of VAT tied up in it, so please bear with us. Lastly, we’re almost into Q2 2018, so it’s time to consider the runners and riders for the Sean Hannick SME Award. Inaugurated in 2016 and won by TransferMate, it was won last year by Wild Orchard drinks. Could 2018 be your year? Or do you wish to nominate another business for the award? We will be publishing the application guidelines soon, so get ready!
Neil McDonnell, CEO
ISME Welcomes the Following New Members! Ace Personnel
Dingle Oceanworld
Recruitment Ltd.
Aquarium
Acoustik
Donlon Couriers
AOS Security
Limited
Management Solutions
DP Systems Ltd.
Limited
Eachtrai Uisce Teo.
Casey Resource
ENGAGE4PROFIT
Management Ltd. t/a
Genovese
Casey Technology Cashin Telecommunications DBC Group
Gourmet Fuel Host Ireland Insight HR Mark Cadam ltd
ISME Welcomes the Following New Members! Medical & Industrial
Tardant Ltd.
Pipeline Systems
The App Tree
Limited
The Marshmallow
Nonnas Pizza Ltd.
Factory
Paragon Executive
The Progressive Play
Paramount 26 (Irl) Ltd.
Co. Ltd.
Plan International
Thomas Kenny &
RED C Research &
Company Limited
Marketing Limited
Trasmore Ltd.
Schrams Plants Limited
Word Perfect
SF Wholesale Limited
Translations Limited
Stafford Bakeries
Click here to Save Now!
Be Safe!
IT and SME’s Survey
We would advice employers to put measures in place to reduce the business impact during this cold snap and that they have a duty of care for all employees under the Safety Health and Welfare at Work Act. Find out more here.
Ulster University are running a survey on IT and SMEs. Each survey completed will lead to a €1 donation to the Irish charity Barnardo’s. Click here to complete survey.
GDPR Essentials for SMEs
Breakfast briefings
There’s still time to go to the ISME Skillnet’s GDPR Essentials for SMEs. These training sessions will provide SME’s with the necessary steps needed to become GDPR compliant. There are more sessions in March – limited availability in Cork on 6th March and Limerick on 7th March. A third Dublin session is planned during week 19th March – details to be announced. Book here.
InterTradeIreland in partnership with the Office of Government Procurement, Enterprise Ireland, Ibec, ISME, SFA, CIF and Chambers Ireland continues its Selling to Government Introduction - Breakfast Briefing. Click here to register for this event.
An Erasmus+ SME survey This survey is being conducted in order to understand what the needs of SMEs are in order to develop an online educational resource to allow them to benefit from open software digital transformation. Please take a few minutes to complete this survey. here This research is conducted by the FOSS4SMEs Consortium.
Prompt Payments Q4’17 Report GDPR Essentials for SMEs in Dublin, 21st February
Brexit & Ireland and its’ Implications The Department of Business, Enterprise and Innovation recently published a report on ‘Ireland & the Impacts of Brexit’. To access the full report click here.
WorkABLE Futures Conference The Employer Disability Information (EDI) service will hold its first event on Tuesday, 27th March in Croke Park, Dublin, in conjunction with Hays Recruitment and the Irish Wheelchair Association. Click here to register for this free event.
The results of our Prompt Payments research was published recently. Payments for businesses improved in Q4’17, on average businesses are waiting 55 days on payment. For a full breakdown of the report click here.
Insurance On February 9th we issued a press release highlighting our disappointment that the Cost of Insurance Working Group Report (CIWG), published 25th January, came up short when considering capping awards in the Book of Quantum. See here for our full response.
European Energy Poverty Conference
Public Procurement
Energy Action is hosting a European Energy Poverty Conference in Croke Park Conference Centre, DUblin on 29th March. Tickets at €80-€120. Find out more here.
The Office of Government Procurement (OGP) recently launched a new range of materials aimed to promote SME participation in the public procurement process. The initiative, developed in response to industry feedback, includes a series of introductory breakfast briefings, organised by InterTradeIreland, and a range of videos explaining the procurement process.
UCD Quinn School of Business Summer Internship Programme 2018 This programme attracts students in top tier undergraduate business schools in the United States across disciplines such as finance, accounting, marketing, public relations and business analytics. The interns are available from Monday 18 June through to Thursday 26 July. For Dublin-based organisations interested in hosting unpaid interns, please contact quinnsummerinternships@ucd.ie or 01 716 4716/4756
How Can Alternative Sources of Funding Help Expand Your Business? InterTradeIreland are running free regional funding workshops to help companies who are ready to expand, explore opportunities presented by alternative sources of funding. The workshops being run jointly by InterTradeIreland and Grant Thornton are aimed at established businesses with a turnover in excess of €100,000, and have been trading longer than 18 months.. Full details of all the workshops can be found on InterTradeIreland’s website here.
SEAI Energy Show 2018. Ireland's leading business energy event returns in 2018 with a free two-day event for energy professionals on 18th-19th April in the RDS, Dublin.. All booking can be made through their online booking site here.
Project Ireland 2040 The Government recently launched its ‘Project Ireland 2040’. Within this policy initiative there are ten strategic outcomes. See here for more information.
ISME Blogs That would be an Ecumenical Matter Electricity Prices, Something A Little Smelly Perhaps? Round up the Usual Suspects We’ll Stick To The Terrace, Not The Grandstand View all ISME Blogs
ISME’s Latest News Employers Advised to Update Plans for Cold Snap SME Satisfaction with Government at Two-Year High Significant Pay Gap Persists Between Public and Private Sectors Employers Advised to Prepare for Cold Snap ISME Welcomes Government Stance on the role of PPPs in the National Development Plan Better Cash Flow for Businesses in Q4 Cost of Insurance Working Group Falls Short Business Confidence in the SME Sector Improves EIR’s Withdrawal from National Broadband Bidding Process Disastrous See all Latest News
Frequently Asked………
Absence Management Managing an employee’s absence is undoubtedly an extremely difficult aspect of people management. The complexity of this subject matter is evident in the sheer volume of questions we get on this topic in any given week. While there are generally no easy answers when it comes to absence management, below you will find some general answers to a few of the most frequently asked questions that we receive. When an employee is absent due to illness am I required to pay sick pay? While there is no legal requirement to pay an employee during a period of sick leave, a requirement may arise as a result of a contractual obligation (i.e. if the contract of employment outlines that a sick pay scheme exists) or through “custom and practice” (i.e. if employees have been paid sick pay in the past). What level of contact is appropriate during a period of absence? Unfortunately, the answer to this question really depends on the circumstances. A delicate balancing act is required between maintaining contact with the employee while avoiding coming across as overbearing. Often the best approach is to agree the contact “terms” with an employee early on during their absence (e.g. you will contact or will expect them to contact once a week). This can be amended to suit the circumstances (e.g. if you know the employee’s absence will be long term you might agree to only contact every couple of weeks, or after a doctor’s visit etc.).
The medical cert I have received does not state the reason for the absence. Can I ask them for more information? There is no requirement for the employee to divulge the reason for their absence and they are entitled to keep this confidential if they wish. Therefore, it is unwise to press them for further details. Where an employee requests to return to work on reduced hours/amended duties, am I required to accept this? You are required to give full consideration to the request. The first step would be to understand whether this request is supported by medical evidence. This medical evidence can either be requested from the employee’s own GP (with the employee’s consent), or from a review with the company doctor/Occupational Health Specialist (if this is allowed for within the contract of employment). If the GP/Occupational Health Specialist supports this request you would be obliged to review the situation carefully to determine if it is something that you can support. You would need to be able to provide a valid business reason for why it is not viable if you were to decline the request. For further advice on managing an employee’s absence please contact 016622755 or niamh@isme.ie
Next month our “Frequently Asked” article will cover the topic of “Handling Disciplinaries”. If you have a general question on this matter that you would like addressed please contact niamh@isme.ie
Marketing in a GDPR Era With only three months to go until this landmark legislation comes into being, the General Data Protection Regulation (GDPR) is going to fundamentally alter how organisations and businesses deal with the personal data of EU citizens. The impact of this legislative on the Marketing function within any business cannot be ignored. Think about your databases, how you communicate to customers and key stakeholders, how you store information, online security and the various systems you use. The penalty for non-compliance is significant there will be two levels of fines. The first is up to €10 million or 2% of the company’s global annual turnover of the previous financial year, whichever is higher. The second is up to €20 million or 4% of the company’s global annual turnover of the previous financial year, whichever is higher.
Understanding the Terminology There is a lot of terms being bandied about and the ones to note and understand are: Data Subject A person who lives in the EU. Personal Data Any information related to an identified/identifiable data subject (e.g., name, national ID number, address, IP address, health info. Controller A company/organisation that collects people’s personal data and makes decisions about what to do with it.
Processor A company/organisation that helps a controller by “processing” data based on its instructions, but doesn’t decide what to do with data. For example. SurveyMoney would be the processor of the data when doing a survey. Processing Any operation or set of operations which is performed on personal data or on sets of personal data, by automated means or otherwise, such as collection, recording, organisation, structuring, storage, adaptation or alteration, retrieval, destruction, etc. Data Protection Officer (DPO) A representative for a controller/processor who oversees GDPR compliance and is a dataprivacy expert Data Privacy Impact Assessment (DPIA) A documented assessment of the usefulness, risks, and risk-mitigation options for a certain type of processing Data Subject Access Request. This is a written, signed request from an individual to see information held on them. The Data Controller must provide all such information in a readable form within 40 days of receipt of the request.
Know your data! All businesses need to focus on their data, and for Marketing, you need to ask some of the following questions: • • •
Where is our sensitive data stored? Who is accessing it? Who should be accessing it?
• • • •
Is there consent and records for the data held? What is your policy consent policy? What systems/third parties are used that process data? Are the third parties GDPR compliant?
Marketing Implications Now “explicit consent” is essential which marketers need to address. This will limit those who receive your marketing communications (online or offline) and how you track online behaviour (on digital properties). The wording on all communications related to collecting data and getting consent needs to be clear so that the subject understands how the data will be used. Modern marketers want to offer relevant, personalised experiences across their digital channels. If unable to track how users engage with content and website, they will find it difficult to provide those experiences. Additional functionality and technology may need to be built into existing platforms to comply with some of the requirements of GDPR. For example, EU residents will have the right to view their personal data, receive an electronic copy, update it, and delete it. This could cause an increased burden on the IT team to build this additional capability. Deleted data could affect marketing’s ability to accurately report on overall effectiveness.
Plan for Compliance Now Do all you can to build up an in-house permission marketing database. Add opt-in checkboxes and language to all your web forms. Consider including a call to action (CTA) in as many digital tactics as possible to encourage users to opt-in or subscribe to your company’s content. Consider more social selling; encourage your sales teams to share content via social media, rather than relying only on email. Clean inactive users out of your marketing database. Optimise your Marketing Automation System Companies that use marketing automation are likely to be in a better position to become compliant. Take the following actions: •
•
•
Store and record requests by individuals who have opted-out, ensuring the prevention of future contact. Capture compulsory fields of all data coming into the system (for auditing purposes), such as source, campaign, and opt-in date and time. Set notifications or run ad hoc reports so you can regularly check opt-ins on the places the data is being collected.
The upside is that marketers will be forced to improve targeting and increase their knowledge of clients. As a result, your contacts should be of higher quality, enabling you to build trust and closer relationships, and provide more relevant experiences with those who do subscribe or opt-in to different types of content. Remember to keep records so that in the unfortunate situation where you are being investigated by the Data Protection Commission, you can demonstrate how you are managing your data to ensure compliancy under GDPR.
How can Marketing respond? Build “Preference Centres” To encourage users to subscribe or opt-in to specific types of content — versus an all-ornothing approach — marketers should build preference centres, enabling clients to control how they prefer to engage with you. For example, clients may opt out of general marketing emails, but opt-in to event invitations. Marketers should focus on tactics like exclusive content by request, website subscription pop-ups and event subscriptions.
At the heart of Marketing, is communications and here Marketing should be involved in all aspects of communicating GDPR internally – staff, key stakeholder, and externally – customers, suppliers and other contacts. Also, be prepared – ask yourself what is your communications procedure or response should a data breach take place? There is help at hand, ISME Skillnet are running GDPR training entitled GDPR Essentials for SMEs in March, click here to book. Marketing for SMES Maeve Whooley, Chief Marketing Officer
2018 Training Schedule
ISME Skillnet Training Courses – BOOK NOW! Course
Date
Venue
Fees
Digital Marketing Strategy (Half day)
01/03/2018
ISME, Dublin.
€120 ISME Members €180 Non Members
Email Marketing Strategy (Half Day)
01/03/2018
ISME, Dublin.
€120 ISME Members €180 Non Members
GDPR Essentials For SMEs
06/03/2018
Handling Inbound Sales Calls
06/03/2018
ISME, Dublin.
GDPR Essentials For SMEs
07/03/2018
Limerick Strand Hotel, Co. Limerick
Practical Project management
08/03/18 & 09/03/18
ISME, Dublin.
€395 ISME Members €495 Non Members
Supervisory Skills
15/03/2018
ISME, Dublin.
€230 ISME Member €315 Non Member
Business Writing & Email Etiquette
27/03/2018
ISME, Dublin.
€230 ISME Member €315 Non Member
Clayton Silver €50 ISME Members Springs Hotel, Cork. €80 Non Members €230 ISME Member €315 Non Member €50 ISME Members €80 Non Members
For more information, contact us: By email: skillnets@isme.ie By phone: (01)6622755 The ISME Skillnet is funded by member companies and the Training Networks Programme, an initiative of Skillnets Ltd. funded from the National Training Fund through the Department of Education and Skills.
BUSINESS CONFIDENCE IN THE SME SECTOR IMPROVES The results of the ISME Quarterly Business Trends Survey for Q4 2017 were recently published (7th February). There was a welcome continued improvement in our latest Trends report. This Trends research also publishes information on employee and employer pay increases, broadband services, and staff retention in the SME sector.
• • •
26% will increase pay by 2.5%-5%. 7% of businesses will increase by for their employees by plus 5%. 3% of respondents stated ‘other’.
The Q4’17 Business Trends Quarterly survey showed positive gains for the final quarter of 2017. 9 out of 12 confidence indicators continue to show positive results. There was an increase in: • • • • • • •
Business Confidence (up 12%) Business Expectations (up 17%) Business Environment (up 6%) Profitability Expectations (up 2%) Future Employment (up 10%) Sales Expectations (up 10%) Current Investment (up 10%)
Commenting on the results, ISME CEO, Neil McDonnell said “We welcome the continued improvement in our confidence indicators. However, there are still many challenges facing the SME sector across the country. The manufacturing sector in particular experienced a reversal in its confidence indicators, with 6 out of 12 indicators declining in Q4 ’17.” He added,
Our research shows us that pay bands in the SME sector are very diverse, as evidenced in the findings below: •
•
38% of SMEs will not be in a position to increase pay this year for their employees, 26% will increase employees pay by 0.5% to 2.4%.
“While we are moving in the right direction, with business confidence at a twenty-one-month high, more needs to be done by government. We have made recommendations to government in light of the challenges facing the SME sector, from pay, high cost of insurance, access to broadband and the high cost of living; the SME sector would be a healthier place for employers and employees if the government took our views on board”
For a full breakdown of Q4’2017 Trends Report click here.
Register your interest to become “ConsumerLaw Ready” today “ConsumerLaw Ready” is a specialist consumer law training programme designed for SME’s. The objective of the programme is to assist SME’s to understand their obligations and entitlements when trading with consumers. ConsumerLaw Ready is being rolled out across Ireland throughout 2018.
Who should attend this training? This training programme is aimed at any SME who deals with consumers through any means (i.e. online, in person, over the phone etc.)
Why should I attend? Being ConsumerLaw Ready will give you the tools to: • Avoid customer complaints and/or legal claims • Improve customer loyalty and trust • Protect your brand reputation • Ensure you can compete with other organisations who apply these Consumer Law Standards
What will be covered? The course will cover 5 important consumer law modules: 1) Pre Contractual Information Requirements 2) Right of Withdrawal 3) Consumer Rights and Guarantees 4) Unfair Commercial Practices and Unfair Contract Terms 5) Alternative Dispute Resolution (ADR) and Online Dispute Resolution (ODR) To register your interest to attend a ConsumerLaw Ready Training Course, or to find out more information please contact niamh@isme.ie
Time to think outside the box this March be held on Tuesday 27th March in The war for talent is back on and attracting top talent is proving to be a huge challenge, in particular for SMEs. How do you get ahead of the pack to recruit the best people for your business? One way to increase your competitive edge is to focus on diverse hiring, in particular people with disabilities. Investment in CSR or diversity and inclusion initiatives has helped many companies attract and retain top talent, while also increasing their sales revenue and public image. Potential new staff these days are much more critical than ever before of companies who are perceived as being unequal or where employees feel that they cannot bring their ‘whole self’ to work. The Employer Disability Information service is now in its third successful year of operation having helped many companies to recruit, retain and manage employees with disabilities. As part of our work, we are hosting our first inclusive employment event focusing on addressing employers’ challenges in this area. It will
Croke Park, Dublin. Attendees at the event will benefit from the insights of diversity and inclusion professionals, be inspired by an exceptional keynote speaker and get information about the financial supports and incentives for recruiting people with disabilities. On the day, we’ll be highlighting practical solutions and approaches to recruiting jobseekers with disabilities and retaining loyal, experienced staff who acquire a disability during their working life. The event aims to challenge the usual misconceptions and fears about diversity and inclusion in the workplace for people with disabilities and change employers’ perception of disabled workers’ abilities. The biggest barrier for people with disabilities getting into employment is attitude and the perception that disability is difficult and costly to accommodate at work. Many are fearful of issues such as employee performance, cost of supports, attendance, retention and health & safety. Let’s have a look at a few common myths:
Myth – Providing accommodations and supports for disabled workers is expensive. Fact – The majority of accommodations and disability supports involve flexibility and cost nothing at all. The US Job Accommodation Network research shows that over half of accommodations sought cost nothing at all and companies report multiple direct and indirect benefits after making accommodations for a staff member. Myth – People with disabilities will sue you for discrimination if you interview them and say the wrong thing. Fact – The vast majority of cases are not taken on the disability ground and do not always refer to the interview process. Myth – Employees with disabilities have a higher absentee rate than their peers without disabilities. Fact – The opposite is actually true with findings from a US report showing that disabled workers had fewer days of absence, both scheduled and unscheduled, than their peers without disabilities. Myth – Employees with disabilities can’t do the job and have poor performance levels. Fact – Various studies over the last twenty years have demonstrated that the opposite is true. For example, a DuPont study that involved 2,745 employees with disabilities found that 92 percent of employees with disabilities rated average or better in job performance compared to 90 percent of employees without disabilities.
Come along and learn more on the day! Register at the following link: http://www.iwa.ie/information/workablefuture-2018
For more information about disability in the workplace, please contact us on info@employerdisabilityinfo.ie, visit www.employerdisabilityinfo.ie or call us on 01 6762014 or 086 17 00 472. Employer Disability Information (EDI) is a free advice and information service for employers who need support on the recruitment, management and retention of employees with disabilities. With the backing of a consortium of employer organisations - Chambers Ireland, Ibec and ISME – and funding from the National Disability Authority, the EDI team promote and drive inclusive employment initiatives through a dedicated helpline, email and by providing a wealth of information and guidance supports for employers on the website.
www.employerdisabilityinfo.ie info@employerdisabilityinfo.ie Twitter - @EmployerDisInfo Facebook - @EmployerDisInfo #AskEDI #inclusivebusines
ISME TAX UP DATE
IMPORTANT TAX DATES FOR MARCH 2018
March
Dividend Withholding Tax
14th
Due date for payment and filing of returns of withholding tax on dividends paid by companies in February 2018. PAYE/PRSI
23rd
Payment of PAYE/PRSI deductions for February 2018 (ROS filers). VAT
23rd
Payment of January/February 2018 VAT liability and filing of related VAT return (ROS filers). Corporation Tax
23rd
Company year-end 30th April 2018: Preliminary tax due, minimum 90% of total liability for the year. Small companies can pay 100% of previous year’s liability (ROS filers). Company year-end 30th June 2017: Payment of balance of corporation tax and filing of corporation tax return (ROS filers). Company Secretarial
28th
Filing of Annual Returns dated 28th February 2018. Corporation Tax
31st
Company year-end 30th September 2016: Close companies with undistributed profits may have to make a distribution by this date to avoid surcharge. Company year-end 30th June 2017: Filing of ‘Return of third party information’ (Form 46G). Company Secretarial
31st
Company year end 30th June 2017: Final date for holding Annual General Meeting and latest possible Annual Return date for 2018. Income Tax
31st
Deadline for claiming Separate Assessment for 2018. Deadline for Nominating Assessable Spouse or Nominated Civil Partner for 2018.
Taxation of Maternity Benefit, Paternity Benefit, Adoptive Benefit and Health and Safety Benefit The following benefits payable by the Department of Social Protection are chargeable to income tax. • • • •
Maternity Benefit Paternity Benefit Adoptive Benefit Health and Safety Benefit
Maternity Benefit is a payment to an employed or self-employed woman who is on maternity leave from work and who satisfies certain PRSI contribution conditions. Paternity Benefit is a payment to an employed or self-employed person who is on paternity leave from work and covered by PRSI. It is paid in respect of births and adoptions which occur on or after 1st September 2016. Adoptive Benefit is a payment to an adopting mother or a single male who adopts a child. It is available to both employees and self-employed people. Certain social insurance (PRSI) contribution conditions must be met. Adoptive Benefit is paid for a continuous period of 24 weeks from the date of placement of a child. Health and Safety Benefit is a weekly payment for women who are granted health and safety leave under the Maternity Protection Act 1994. Health and safety leave is granted to an employee where the employer cannot remove a risk to the employee’s health or safety during pregnancy or while breastfeeding, or cannot give the employee other 'risk-free' duties. The Charging of Income Tax The charging of income tax on the benefits/payments referred to above (aside from paternity benefit) commenced from 1st July 2013 by virtue of Section 126 of the Taxes Consolidation Act 1997 (as amended by Section 8 of Finance Act 2013). These benefits/payments are exempt from PRSI and the Universal Social Charge. Example: Margaret commenced maternity leave on 1st May 2013. She successfully applied for maternity benefit from the same date. All payments to Margaret in respect of the period 1st May 2013 to the 30st June 2013 inclusive are made tax free. All payments made to Margaret in respect of the period commencing 1st July 2013 are subject to income tax. Method of applying taxation In PAYE cases, the employer will not be required to include the benefit as part of pay for PAYE purposes. Instead, Revenue will, where possible, collect the tax due on this income by adjusting the tax credits and standard rate band in respect of recipients and issue a revised certificate of tax credits and rate bands to the employer. The adjustment to the tax credits and standard rate bands will be the main method of taxing these benefits. In the case of self-employed individuals, any maternity benefit received from 1st July 2013, or any paternity benefit received on or after 1st September 2016, should be returned as taxable social welfare income. Prepared for ISME by:
Tel: (01)612 0580
Byrne & McCall Accountants & Tax Advisors, Core B, Block 71, The Plaza, Park West, Dublin 12.
Fax: (01) 620 5625
email: info@byrnemccall.ie
www.byrnemccall.ie
February 2018 Newsletter T: 01 662 2755 E: info@isme.ie www.isme.ie