Message from / The CEO ISME Welcomes / New Members ISME / News HR FAQs / Frequently Asked – Probation Lobbying / UPDATE: Joint labour committees Events / Annual Conference 2018 Marketing / Promote your business Training Courses / Course updates Research / SME’s and Business Crime ISME Staff Update / Slán go Fóill! CSR Feature/ Wellbeing in the Workplace Tax Update / Dates for the diary Legal Update / Tax relief for pension contributions
MESSAGE FROM THE CEO
Dear member,
Neil McDonnell CEO neil@isme.ie
As I write to you, we’re still digesting the contents of the second and final report by Mr Justice Kearns of the Personal Injuries Commission on the benchmarking of general damages awards in Ireland. It will come as no surprise to you that he found damages paid in Ireland to be more than four times those paid in the UK for a similar injury, and the UK is already an outlier in terms of generosity of settlement. He also found that there was zero law enforcement against false claimants. We are delighted that he has nailed some of the spin coming from the legal lobby; he also called it as it is when he said that personal injuries awards are a ‘runaway train.’ What he has not done is propose measures which would work in order to redress the situation. Judges caused this problem in the first place. So the notion that it should be left to them to decide awards levels in future is like putting arsonists in charge of the match factory. We will be calling on you for assistance on insurance this autumn. We need action. We’re getting close to Budget 2019 next month. You’ll find our Pre-Budget Submission to the Department of Finance here. On the taxation side, we rely heavily on the statistics produced in the Irish Tax Institute Budget Briefing Papers. If you want to have an informed discussion about taxation, we suggest you read them to understand how uncompetitive Ireland is in tax terms. At time of writing, there is an EU summit taking place in Austria, yet we appear no clearer about how Brexit will be resolved for Ireland. If you haven’t looked into how it will affect your business, then please look up the EU Brexit Notice relevant to your line of business and start preparing now. If you haven’t applied for funding under the Brexit Loan Scheme from SBCI, you can get the application form here. It is NOT as hard to access as you may think, but unfortunately, only €2.5m of an available €300m has been applied for. You now have only three full months until the Revenue’s PAYE modernisation changes take place. If your business hasn’t got its payroll in place for this, you need to talk to a payroll professional now. As I reminded you last month, our member's area is now live on the website. This is yours to use, for your ISME publications and documents, for your job announcements, company news, and the member’s chat forum. It’s free! Make use of it. Lastly, I want to say goodbye to two ISME team members who leave us this month. Most of you will know Niamh Heneghan, our HR Advisor, who departs this month to move back west to Connacht. Our Press and Research Officer Michael O’Flanagan is leaving to take up a role in the charity sector. They have both given great service to ISME and will be missed by members and staff. We wish them every success for the future.
NEW MEMBERS:
Astech Ireland Ltd Amagrin Ltd.
Automated Window Blinds Canavan Enterprises Coppertops Digital Marketing Franklin Research Hibernian Healthcare Ltd. Keelans Home Bakery Limited Kleentech Ltd. Mediate Travel Ltd. Metrology Systems and Services Limited Parolla Prior Tool & Die Ltd. t/a Prior PLM Medical Red Oak Renatus Capital Partners Ireland Ryans Arbutus Bread Screen Security Ltd. Splash Events Trucurve Glass
ISME’s Pre-Budget Submission 2019
NEWS
ISME OUT & ABOUT
The Association submitted its Pre-Budget Submission to Paschal Donohoe TD, Minister of Finance. The document outlines the Associations key priorities for Budget 2019. Ireland’s GDP is expected to grow by 4.1% in 2019, the third highest in Europe, behind Malta and Slovakia. Click here to read our full submission. ADVANTAGE update We have added two new Affinity schemes to our ADVANTAGE Programme as follows: Clear Treasury, an Irish owned business founded by ex-treasury bankers with offices in Dublin and London are offering SME Currency Risk Management. ISME Members will receive the following: • 30% discount on exchange rates • Fee-free transfers • Free FX Risk Health Check • Interest Rate Advisory Corporate Finance • SME Debt Advisory • Trade Finance • Invoice Finance Hugh J. Ward Solicitors are based in Dublin and in operation for 21 years. They provide a full range of credit management and legal services. Their Ledger Management & Legal Services Affinity Programme offers Members 20% discount on the following: • Debt collection fees • Legal collection fees • General legal services • Outsourced credit management Read about the ADVANTAGE programme here and you can find full details in the Members Area of the website.
ISME CEO, Neil Mc Donnell opening PAYE Modernisation Information Seminar hosted by ISME member Fuel IT.
Learning and Development Manager Adam Weatherley attended the launch of #skillstoadvance where Minister Richard Bruton spoke about the importance of upskilling and training for SMEs.
Marketing Executive Ciara Whooley attended the Taking Care of Business event in Limerick on the 25th of September.
NEWS ISME Group Life Plan : The ISME Group Life Plan, administered by Halligan Insurances, provides important life cover to your permanent staff for only €206 each per year and is designed to pay a lump sum of €100,000 to the next of kin in the event of death in service. The plan is available to: • Permanent Directors and employees who have more than two years’ service in your company (Staff with less than two years’ service can also join by completing a medical questionnaire) • Employees who are under the age of 60 Submit your application as soon as possible, as the ‘no underwriting’ entry window is strictly limited and available only from the 1st of October until the 31st of October. You can read more about the benefits of the plan and download the application here. Think 25! 2018 ISME Annual Conference Make sure Wednesday 21st November is in your diary because ISME will be holding their annual conference in the Citywest Hotel, Dublin. ISME will be marking 25 years in operation in November and this has inspired the theme – THINK 25 – Looking ahead for Irish Business. Here we want to consider what Irish Business will look like during the next 25 years – the challenges, opportunities, the Irish business landscape and what we’ve learned since 1993. Exhibition stands are now on sale. To find out more visit our website. ISME’s New Website: The new ISME website is now live! The site was designed to be easy to use and full of information for you. For ISME Members we’ve completely overhauled the Members Area with a new look Members Directory, sections where members can access publications, guides and reports, plus new features such as a Members Forum, and tools to upload Member news and job vacancies which will be published on isme.ie. We encourage all Members to login into the Members Ara area to make sure their business is listed on the Directory, designed as place where members can do business with each other.
NEWS Summer Economic Statement (SES) The Minister for Finance and Public Expenditure and Reform, Paschal Donohoe T.D., recently published the Government’s Summer Economic Statement (SES). The SES forms a key element of the reformed budgetary process by providing a policy background for the discussions in the Dáil and, subsequently, at the National Economic Dialogue. The SES 2018 sets out that the Government is targeting a deficit of 0.1 per cent of GDP next year, or better and accommodate a budgetary package of €3.4 billion; Call for ads in the M2M Marketplace Advertise for free in the next edition of the M2M Marketplace. Ad Requirements: • The ad must be A4 Portrait sent in pdf or png format • The ad must include a special offer or discount for ISME members Copy Deadline: Friday 12h of October / Publication: Mid October Contact: Ciara Whooley with your advert: ciara@isme.ie Invitation to Cyber Threat Summit ICTTF is preparing for the 2018 European Cyber Threat Summit. ISME members get 20% of any ticket price, including online streaming tickets just use the discount code 20CTS2018 at checkout. You can purchase tickets here. Be Prepared Grant (Enterprise Ireland) The Be Prepared Grant offers up to €5,000 to assist in the cost of developing a strategic response to Brexit. The grant is intended to provide support to clients to use external resources to undertake a short assignment to determine how the company could respond to the threats and opportunities of Brexit. The grant can be used to cover consultant’s fees, travel and expenses for both domestic and international employee travel. Brexit Loan Scheme The SBCI Brexit Loan Scheme is offered in partnership with the Department of Business Enterprise and Innovation, the Department of Agriculture Food and the Marine and is supported by the InnovFin SME Guarantee Facility, with the financial backing of the European Union under Horizon 2020 Financial Instruments. The loans are available through AIB, Bank of Ireland and Ulster Bank. Approval of loans are subject to the banks own credit policies and procedures. Apply here
NEWS ISME EU Projects Following the development and testing of the online application for TeamMate 360, the pilot stage of this project is now underway. There are still some places left for any organisation/manager that wishes to have feedback on their management skills of remote teams or employees. This development opportunity allows managers/team leaders to get feedback from their colleagues on their remote management skills and will also receive development suggestions where appropriate. The Re-Innovate Project, which started in January of this year, has already developed the learning methodology, curriculum and accreditation for the course and is now involved in development the course modules. The course will be ready for piloting next year. After which the accredited course will be available to employees of SMEs to help develop their innovation capabilities through practice-based research and problem solving skills. For further information please contact Sheila Flannery, Erasmus Project Manager on +353 1 6622755 .The Real Deal 2018 The Real Deal 2018 is a new SME conference , where you can will gather insights from some of Ireland’s most prominent and successful business leaders. Moderated by Matt Cooper, the conference will focus on critical strategic decisions faced by SMEs and aims to educate and de-mystify the options available to SME Ireland. Four key categories will be explored thoroughly on the day and along with opportunities to network amongst other SME leaders, and participate in Q&A sessions with the speakers and advisors, you’ll leave the event with the knowledge and network to tackle your own business opportunities and challenges. ISME members can receive a discount on tickets with the code ISME50. More details here: https://therealdeal2018.ie/ Issue 2 of the bISME is live ISME were excited to share issue 2 of our new online publication, The b ISME with members. The second issue of our new online publication includes an interview with former Dragon’s Den star and Co Founder of East Coast Bakehouse . Read your copy here.
HR ARTICLE Frequently Asked – Probation
For further information please contact hr@isme.ie
The probationary period is arguably one of the greatest tools available to employers if managed correctly. However, there is a common misconception that employees can be dismissed within the probationary period without any consequences. However, regardless of length of service employees have a right to fair procedures. Below are some of the most commonly asked questions we receive about probation. How long is a probationary period? There is no statutory timeframe for a probationary period. It is down to each individual company to set out the timeframe that they deem appropriate. This should be a reasonable timeframe, which gives the employee a proper opportunity to settle into the role, and allow for some opportunity to improve if required. Can I extend the probationary period? If the right to extend is included within your contract of employment then yes you are entitled to do so. However, we recommend that you do not extend past the 11 month mark. How should I manage performance during probation? Firstly, set clear objectives for employee from day one. If possible, make these objectives measurable. This should help prevent any ambiguity or disagreements regarding whether the employee is hitting the standards or not. Regular reviews should take place with the employees to discuss whether these objectives are being met. Where they are not hitting the standard required, this should be brought to their attention as early as possible to allow them adequate opportunity to improve. In addition, they should be made aware that continued failure to hit standards could result in termination during the probationary period. A dismissal should never come as surprise.
Do I need to follow a formal disciplinary procedure in order to dismiss an employee during probation? This depends on what your contract states. We recommend you include a clause that precludes the use of the disciplinary procedure during probation. If your contract does not include such a clause, you may be required to follow a formal disciplinary procedure before moving to dismissal. Do I need to give a reason for dismissal during the probationary period? All employees, whether they are within a probationary period or not are entitled to be given a reason for their dismissal. How much notice do I need to provide an employee with if dismissing within probation? Again, this depends on your contract of employment. Your contract would normally outline the notice period to be provided to your employees. If your contract is silent on this, you need to provide notice in line with the statutory minimum (1 week notice period after 13 weeks of employment). Does an employee on probation have the right to appeal a decision to dismiss? Yes, an employee who is dismissed within their probationary period should be given the opportunity to appeal against the decision. This appeal should take place in line with any company procedures that are in place.
LOBBYING UPDATE: Joint labour committees retained for all sectors.
For further information please contact Wayne@isme.ie
In its five-yearly review of the JLC system, the Labour Court has recommended that the same sectors remain covered for the next five years.
We highlighted in our submission that current JLCs are making employment legislation more complex and that their existence is obsolete, as there is quite a heavy body of law out there which protects employees.
The role of the Court is to recommend to the Minister the maintenance, amalgamation or abolition of JLC’s, based on whether they ‘promote harmonious relations between workers and employer and assist in the avoidance of industrial unrest’ These sectors include agriculture, contract cleaning, catering, hairdressing, hotel sector, retail grocery and security guards. While all of these JLCs will remain, there is the amalgamating of the two-regional catering JLCs into one national body.
ISME stands by its previous comments and submission made to the Labour Court regarding JLC’s. The Association in its April submission to the Court, called for the abolition of the JLC/ERO system. This call was made in line with section 40 of the 1946 Industrial Relations Act, which allows the Minister or any worker or employer group to apply for the abolition of any JLC.
This review of the JLCs was conducted by a division of the Court that comprised of the Court chairman Kevin Foley, with Gavin Marie as the employer member and Arthur Hall as the union member. The Association is disappointed at this decision, but we would like to assure our members that we will continue to work with them on the issue of JLCs/ERO’s. Employment Regulation Orders
ANNUAL CONFERENCE THINK 25! Maeve Whooley / Maevee@isme.ie
ISME are thinking ahead at their 2018 Annual Conference We are delighted to announce details about the 2018Annual Conference which will take place on Wednesday 21st November in the Citywest Hotel, Dublin. This year the association is marking 25 years and this has inspired the theme of the conference, Think 25 – Looking ahead for Irish Business.
Other highlights on the main stage include an interview by Conall with David Cox, Managing Director of Fragrances of Ireland, an ISME member since 1993 who will chat about his business over the last 25 years and plans for the next; and the presentation of the Sean Hannick SME Award.
Commenting on this year’s conference, ISME CEO, Neil McDonnell said “ISME is 25 years old this year. We’ve put a pretty eventful quarter-century behind us. We’re going to cast a nostalgic eye back to the Ireland of 1993 at our Annual Conference. But the main theme on the day will be looking ahead at the next quarter century. With all that is happening around us, we think the next 25 years will be the most eventful since we joined the EEC in 1973. Our relations with Northern Ireland, Britain, the EU, the USA, Asia and Africa will be profoundly changed. Brexit, an EU where we will be the only common-law member, a disengaging USA, and a more muscular China and India will change the way Ireland interacts with the world. It’s going to be a great place to be an SME. Join us in November to see why.”
The Great Debate will close the morning session with panellists Newstalk’s technology expert Jess Kelly, economist Jim Power, Dr Kay Haywood, Queens University and author of Bordering on Brexit: and Chris Paye, General Manager at Jobs.ie The panel will discuss what we have learned from the last 25 years that will inspire the next. After lunch we will be running breakout sessions across a variety of key business topics, each 30 minutes in duration allowing delegates– full details to be announced in October.
Conall Ó Mórain will chair this action-packed day which includes the keynote speech by Alison Cowzer, Director, East Coast Bakehouse (former Dragon on RTÉ’s Dragon’s Den). Professor of Computing in DUC and Co-Founder of the Research Centre for Data Analytics, Alan Smeaton will give the theme address which will focus on technology, data and what it means for business over the next 25 years.
ANNUAL CONFERENCE THINK 25! Maeve Whooley / Maevee@isme.ie
ISME is thrilled that this year’s conference is sponsored by Sovy – compliance software for SMEs, and the media partner for the second year running is the Sunday Business Post. At the announcement, they commented: “Sovy is delighted to partner with ISME and sponsor the Think 25 conference on 21st November. Sovy and ISME share a common goal, to simplify business compliance for SMEs in Ireland. ISME connects us with Ireland's thriving SME community to provide affordable compliance in the cloud for GDPR, workplace conduct and anti-fraud regulations.” John Popolizio, CEO, Sovy
There are many ticket options for delegates – a full day ticket for all the events or individual tickets for the Morning Session or for the Breakout Sessions starting from €35 p.p. ISME Members can enjoy discounted rates for entry. For a limited period, (1-21st October) we are offering Early Bird full day tickets. NETWORK, CONNECT, TRADE, COLLABORATE - attendees can visit over 60 exhibition stands across a range of industries offering lots of opportunities to do business. Find out more on isme.ie.
“Every week The Sunday Business Post profiles the best of Irish business stories. Small and medium enterprises are key to the success of our economy and giving these businesses a platform is key to what we do in The Sunday Business Post. We are delighted to support the ISME conference again this year. “ Emma Horgan, Circulation & Marketing Manager, The Sunday Business Post.
PROMOTE YOUR BUSINESS Click the images to read our member news
Here at ISME we are always looking for opportunities to promote members through our channels and through the media. Members News on the website: Members now have the ability to upload their own news to the website. This news can be viewed in the Latest News section of the ISME website. News may include; the celebration of milestones, new product launches, staff announcements or awards won. This news will then be shared across our social media channels and may even be featured in our next publication.
Members in the media: ISME often get approached by journalists looking to write about SMEs in Ireland. If you wish to be added to a media list please email ciara@isme.ie. We will then contact people on this list when we have promotional opportunities. ISME Members Aillwee Caves and Keoghs Crisps featured in the Irish Times
ISME Wall Planner We have an exciting opportunity for 15 businesses to promote their company in 3000 office across Ireland with our 2019 wall planner. As always ISME members will receive a discounted rate on advertising. This is an 'old school' opportunity - but it's one that is not to be missed. For more information email Ciara@isme.ie
LEARNING & DEVELOPMENT
The ISME Learning & Development Training schedule for the remainder of 2018 was released recently and was well received. Some new additions to the training calendar: Breakfast & Lunch Business Briefings: • Breakfast Business Briefing: Health Check for Brexit Briefing, the Kingswood Hotel (09th Oct) • Strategy Re-boot for SMEs – Dublin, Cork & Limerick (16th / 23rd / 24th Oct, respectively) • GDPR Health Check: Dublin, Cork & Limerick (16th / 23rd / 24th Oct, respectively) Upcoming / New Training Events: • 05th Oct – Team Management & Leadership Skills for SMEs - Clare • 09th Oct – SME Recruitment Skills & Staff Retention - Dublin • 24th Oct – Transform Your Business. 6 month programme – 1 day per month • 25th Oct - Tendering Masterclass for SMEs – Dublin – 10 places only • 01st Nov - LinkedIn for Business – Half-day event - Dublin Training Needs Analysis: Learning & Development Requirements for SMEs – questions we would welcome answers to: • How can we help your business? • What is your most immediate business challenge? • If we gave you a magic wand, what are your 3 wishes • What is the biggest challenge facing your sector? • What is the biggest challenge facing Ireland? If you have specific training requirements, please contact the team at skillnet@isme.ie. As we move towards 2019, we always want to hear from the SME community on what your training needs are.
Diploma in Business Management for SMEs We are excited to announce a new Business Management Programme in partnership with the Dublin Business School. The programme will run for 9 months with 10 contact days in total. The course will consist of 6 modules delivered by experts with worldly commercial experience. We are looking to launch this programme on the 4th October 2018 – there are 3 remaining places. The modules include: 1. Human Resource Management 2. Marketing & Sales Management 3. Communication Skills 4. Interpreting Financial Information 5. Coaching & Mentoring 6. Management Principles
Certified Marketing & Sales for SMEs - QQI Level 7 special award. We are delighted to announce our continued relationship with Griffith College. We will be running programmes in the college’s 3 campuses in Dublin, Cork and Limerick. The programme will be delivered over 4 months and comprising of eight one day sessions. There will also be 2 days of project supervision and feedback. The four units to be covered will be Business Analysis and the Business Environment, Practical Marketing Management, Digital Marketing and Sales Management. If you would like to learn more about these exciting programmes please contact us at skillnet@isme.ie
Course
Date
Location
Fees
Team Management & Leadership for SMEs
05/10/2018
Clare
€230 ISME Members, €325 Non Members
Recruitment Skills for SMEs
09/10/2018
Dublin
€230 ISME Members, €325 Non Members
Brexit Health Check For SMEs Customs, Supply Chain & Goods Routings
09/10/2018
Dublin
€50 ISME Members, €90 Non Members
Customer Service & Complaints Handling
10/10/208
Dublin
€230 ISME Members, €325 Non Members
How to Integrate GDPR into your ISO QMS
11/10/2018
Dublin
€230 ISME Members, €325 Non Members
Business Strategy Re-boot for SMEs
16/10/2018
Dublin
€50 ISME Members, €90 Non Members
Lunch Briefing: GDPR Health Check for 16/10/2018 SMEs
Dublin
€50 ISME Members, €90 Non Members
Practical Project Management
17/10/2018 & Dublin 18/10/2018
€395 ISME Members, €495 Non Members
Team Management & Leadership for SMEs
18/10/2018
Dublin
€230 ISME Members, €325 Non Members
Handling Inbound Sales Enquiries
18/10/2018
Dublin
€230 ISME Members, €325 Non Members
Digital Selling for SMEs
19/10/2018
Dublin
€230 ISME Members, €325 Non Members
Cork
€50 ISME Members, €90 Non Members
Breakfast Briefing: Business Strategy Re23/10/2018 boot for SMEs
Lunch Briefing: GDPR Health Check for 23/10/2018 SMEs
Cork
€50 ISME Members, €90 Non Members
Transform Your Business (6 month programme)
Dublin
€999 – Flat rate to all participants
Breakfast Briefing: Business Strategy Re24/10/2018 Boot for SMEs
Limerick
€50 ISME Members, €90 Non Members
Lunch Briefing: GDPR Health Check for 24/10/2018 SMEs
Limerick
€50 ISME Members, €90 Non Members
Customer Focused Sales
24/10/2018
Dublin
€230 ISME Members, €325 Non Members
Successful Business Writing and Email Etiquette
24/10/2018
Dublin
€230 ISME Members, €325 Non Members
Tendering Masterclass for SMEs
25/10/2018
Dublin
€230 ISME Members, €325 Non Members
Consumer Law Ready
31/10/2018 & Dublin 01/11/2018
€395 ISME Members, €495 Non Members
Day 1 24/10/2018
If you would like to learn more about these exciting programmes please contact us at skillnet@isme.ie
RESEARCH ARTICLE SME’s and Business Crime: Cost and Impact SME’s and Business Crime: Cost and Impact The 16th edition of ISME’s annual ‘Business Crime Report’ has been published which highlights how one-third of businesses are affected by crime. The report details the results of the 2018 survey, which had a response rate of 13% from our membership base. Small businesses are disproportionately hit when it comes to absorbing the costs of crime. Crime prevention costs for business remain high with:
Our report highlights the significant and largely unquantifiable economic and emotional weight borne by the business community as a result of crime. In combatting business crime, ISME makes eleven recommendations for reducing the level of crimes committed against businesses.
• 38% spending less than €1,000. • 33% of businesses spend on average €1000€5000. • 8% of businesses spending €5,000-€10,000. • While 7% spend more than €10,000.
• The main findings of this year’s survey are: • 34% of businesses have been targeted by criminal activity • The highest incidence of crime was reported in Leinster • 87% of SME business owners see the judicial system as ineffective • 15% of businesses were the victim of false personal injury claims • 24% of businesses reported higher insurance premiums as a direct result of business crime • 26% of businesses have experienced cybercrime • 85% receive spam related emails • While, 43% have been the victim of credit card fraud
These recommendations can be found in our annual national crime survey. One of these recommendations is to introduce a single national definition for business crime in Ireland (similar to the UK) to enable offences to be properly categorised, measured, analysed and ultimately solved. Our publication also highlights businesses concerns with E-crime/Cyber Crime, with 98% of respondents stating they would like to see the establishment of a central/national E-crime body.
Full Report here
Wayne Tobin / Press Policy & Research Officer / wayne@isme.ie
ISME STAFF UPDATE
Slán go Fóill! After two and half years of working in ISME, I am sorry to say I am finishing up as research officer with the Association. This is a role I was privileged to be given and one I have enjoyed immensely. My time with ISME has allowed me to grow as an individual; both personally and professionally and for that I am thankful to the Management, National Council and to my Colleagues (Friends). While I am excited about my next venture and new opportunity, I am genuinely sad to be saying good-bye to the Association. My new role is quite different to the one I currently hold. From October, I will be working in the disability space within the Autism Community. It is a sector that I have a great passion for and one that I am very excited about. I leave ISME with a heavy heart, and leave behind great colleagues and Friends. I will take this opportunity to introduce to you our new Press, Policy and Research officer, Wayne Tobin, who I know will do great things in this role. I wish him every success. Finally, thanks to all our members who made my time in ISME a very enjoyable and learned experience, I wish you all great success in your business endeavours. Gach dea-ghuí oraibh! Michael Like Michael, I will also leave ISME after two and half years. It is with great sadness that I leave ISME but there is also a sense of excitement as I begin a new chapter of my life in the West of Ireland. Working in HR here I have come to know many of our members. Although I never had the opportunity to actually meet most of you I wanted to take this opportunity to say thank you for your support and kindness and best of luck for the future! My time with ISME has allowed me to grow both personally and professionally and for that I am thankful to the Management, National Council and to my Colleagues here at ISME. Best of luck – Niamh
WELLBEING IN THE WORKPLACE The idea of managing staff wellbeing as part of your SME’s business strategy was unheard of just ten years ago. It was a ‘nice to have’ concept reserved mostly for those large multinational corporations that could afford such a luxury. Most small and medium business owners would have considered such ideas expensive, time consuming and unnecessary for their company. Oh how the times have changed! Over the years, initiatives for managing staff wellness have increased during economic good times and were forgotten about during downturns. We are all usually too glad to have a job and keep our heads above water during tough times to worry about whether our job is satisfying. The statistics show that this trend continues today. Recent research published by the Economic and Social Research Institute (ESRI) shows that days lost due to illness and absenteeism increased during boom years and decreased during the recession. As the economic recovery speeds up, it is more important than ever for SMEs to be prepared to tackle any potential rise in absenteeism, productivity and staff turnover. The ESRI research indicates the most common type of work-related illnesses are musculoskeletal disorders which account for 50% of absences. 18% of work-related absence due to illness occurs because of stress, anxiety and depression. These findings alone suggest that it is worthwhile to consider how helping employees to manage these issues will increase productivity and decrease lost days due to bad backs and neck pain. Opinion polls and surveys shows that people now consider wellbeing initiatives as very important when considering where they want to work. Similarly women returning to the workplace after maternity leave and men with young families are placing greater pressures on their employers to support them to work flexibly and be healthier. Many global organisations and the Government are now including questions regarding employee wellbeing management in their tendering processes.
Any smart SME owner will realise that they’ll be ahead of the competition if they invest in their people when tendering for large contracts. SMEs can be proactive in this area if they take steps to promote wellbeing in their workforce and boost employee engagement. Failing to create happy and healthy workplaces puts SMEs at risk of high levels of stress, absenteeism, staff turnover and decreased productivity. There are many free resources available to get started and many simple ways to set it up. Get your employees involved and let them take control of getting projects off the ground – they’ll be more engaged if they decide what initiatives to take on and feel ownership for activities. Most popular initiatives include stress management, mental health, first aid, exercise programmes and healthy eating promotion. Financial wellness programmes may be more relevant to your staff so broaden the scope to consider all types of employee wellbeing from physical, social to emotional. Give staff the autonomy to set up a Wellness Committee and get involved with popular awareness raising health campaigns like Daffodil Day with the Irish Cancer Society, Stroke Awareness Week and Irish Heart Month run by the Irish Heart Foundation or Positive Ageing Week organised by Age Action Ireland. If you are an employer looking for information on the employment of staff with disabilities please contact seonaid@employerdisa bilityinfo.ie
OCTOBER TAX UPDATE August 2018 Dividend Withholding Tax 14th Due date for payment and filing of returns of withholding tax on dividends paid by companies in September 2018. Corporation Tax 23rd Company year-end 30th November 2018: Preliminary tax due, minimum 90% of total liability for the year. Small companies can pay 100% of previous year’s liability. Company year-end 31st January 2018: Payment of balance of corporation tax and filing of corporation tax return (ROS filers). Income Tax 23rd Payment of PAYE/PRSI/USC/LPT deductions for September 2018 (ROS filers). Company Secretarial 28th
Filing of Annual Returns dated 30th September 2018.
Corporation Tax 31st Company year-end 30th April 2017: Close companies with undistributed profits may have to make a distribution by this date to avoid surcharge. Company year-end 31st January 2018: Filing of ‘Return of third party information’ (Form 46G). Company Secretarial 31st
Company year end 31st January 2018: Final date for holding Annual General Meeting and latest possible Annual Return date for 2018.
Capital Gains Tax 31st Filing of return of capital gains tax for 2017 tax year. Income Tax 31st
Filing of 2017 Income Tax return. Payment of Preliminary Income Tax for 2018. Payment of balance of Income Tax for 2017. The 31st October 2018 date relates to paper / posted returns. The filing date for pay & file through ROS is 14th November 2018.
Prepared for ISME by: Byrne & McCall Tel: (01)612 0580 Fax: (01) 620 5625 email: info@byrnemccall.ie www.byrnemccall.ie
Accountants & Tax Advisors, Core B, Block 71, The Plaza, Park West, Dublin 12.
TAX RELIEF FOR PENSION CONTRIBUTIONS Tax relief for pension contributions Contributions to an exempt approved scheme are allowable as an expense in assessing an employee’s liability to tax under Schedule E. This is only an income tax relief and does not apply to the Universal Social Charge (USC) and Pay Related Social Insurance (PRSI). The following are the applicable pension plans: • • • •
Occupational pension plans Personal Retirement Savings Accounts (PRSAs) Retirement Annuity Contracts (RACs) certain overseas plans
Tax relief for employee pension contributions is subject to two main limits under Section 790A TCA 1997: 1. Age-related earnings percentage limit You can get tax relief on your pension contributions up to the relevant age-related percentage limit of your earnings in any year. This relief is only from the employment in respect of which the contributions are made. The age-related earnings percentage limits are: Age Under 30 30 – 39 40 – 49 50-54 55-59 60 or over
Percentage Limit % 15% 20% 25% 30% 35% 40%
2. Total earnings limit The maximum amount of earnings taken into account for calculating tax relief is €115,000 per year. Contributions to more than one pension product Where an individual has two sources of income (e.g. earnings from employment and profits from self-employment and is making pension contributions to an occupational pension scheme and to a personal pension plan, a single aggregate earnings limit of €115,000 applies in determining the amount of tax relievable contributions.
Prepared for ISME by: Byrne & McCall Tel: (01)612 0580 Fax: (01) 620 5625 email: info@byrnemccall.ie www.byrnemccall.ie
Accountants & Tax Advisors, Core B, Block 71, The Plaza, Park West, Dublin 12.