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Vacancy for Trainee Chartered Accountants

David M. Breen & Co is a two partner firm based in Waterford. The firm offers a full range of accountancy, auditing, taxation, bookkeeping, insolvency and business advisory services.

We are looking for enthusiastic graduate to train as Chartered Accountants for start dates in Autumn / Winter 2020 and early 2021.

We have a strong portfolio of clients in a wide range of sectors and you will have the opportunity to get excellent experience in addition to your academic training programme.

Our teams are professional, friendly and supportive. We place a strong emphasis on helping you pass your exams, gain relevant experience and develop your career. You will be given the opportunity to achieve your personal goals while maintaining a good work life balance.

This position is open to business graduates with an Honours Bachelor Degree and CAP1 and/or CAP2 exemptions and will involve a 3 or 3 ½ year training contract leading to the ACA professional qualification.

Applications including cover letter and CV via email julie@davidmbreen.ie.

Closing date 31 October 2020

Budget 2021 Highlightshttps://davidmbreen.ie/wp-content/uploads/2020/10/Budget2021.pdf

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Contact Details during Covid 19 Restrictions

Contact Details During Covid 19 Restrictions

Our office is closed  however all the Team are working remotely to support you. We are contactable either by email or phone as follows:

Main Line 051-875222 is attended at all times

Direct Dial numbers:
Andrea  051 364382
Clair       051 364384
Kelsey    051 364379 (Payroll)
Vicky     051 364383

Or by email to  the relevant Team member to firstname@davidmbreen.ie

Thank you and Stay Safe

 

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COVID 19 – Temporary Wage Subsidy Scheme

Dear Client,

All our team remain contactable to help you at this difficult time. Please ring 051-875222 or direct dial where available.
The following guidance on the operation of this scheme has now been issued by the Revenue, particularly in relation to Employer eligibility.

Summary of the Scheme

Under the new scheme Employers will be able to make a payment to employees, without deduction of Tax / USC that is equivalent to 70% of the Employee’ average net pay – The employer then receives a direct subsidy from Revenue. This subsidy is capped at a maximum of either €350 or €410 depending on the individual’s average net pay.

The COVID-19 Payment is limited depending on the average After Tax / Net Pay
• Average Pay from €0 to €586 limits it to €410
• Average Pay from €586 to €960 limits it to €350
• The average pay is defined as average payments made to employees in the payroll submissions to the Revenue, for each pay date in January and February 2020.

The Government are encouraging Employers where possible, to Top-Up employees pay up to a maximum of 30% of the After-tax Pay. The top-up amount is subject to PAYE, USC and PRSI at the reduced “J9″ rates.

Guidance for Qualification
•  Employers with strong cash reserves that have been hit by a significant decline can still qualify, but the Government’s expectation is that they are expected to pay a significant proportion of the employees’ wages.
• Turnover is likely to decrease by 25% for quarter 2, 2020 (they expect to provide further details on this no later than March 30th)
• The scheme is confined to employees who were on the employer’s payroll at 29 February 2020 and for whom a payroll submission has already been made to Revenue in the period from 1 February 2020 to 15 March 2020.
• Employees who were laid-off after 29 February 2020 may be taken back onto the payroll for the purposes of this scheme.
• The scheme will be on a self-assessment basis making it the employer’s responsibility to decide for themselves if they qualify.
• The declaration is based on reasonable projections, that there will be disruption to the business caused or to be caused by the Covid-19 pandemic.
• The key focus will be on the fact of significant negative economic disruption on the employer due to Covid-19.
• Revenue may in future, based on risk criteria, review your eligibility.
• You are expected to keep documentation.
• The critical requirement is to be able to show significant negative economic disruption due to COVID-19.

The Subsidy, while paid without deduction of Tax, will be liable to Income Tax and USC on review at the end of the year by the Revenue. While the Revenue say the Employer should pay no more than the normal weekly net pay, this may occur in the event a Tax / USC refund arises which will also be refunded to the employer by the Revenue.

Revenue’s general approach to businesses experiencing cash flow and consequent tax payment difficulties is to work towards agreeing mutually acceptable solutions that assist a return to viability as soon as possible.

Eligibility for this scheme will initially be determined, largely on the basis of self-assessment. To qualify for the scheme, a business must be experiencing a significant negative economic disruption due to the Covid-19 pandemic. A qualifying employer will declare that it is significantly impacted by the crisis. Key indicators are:
• That the employer’s turnover is likely to decrease by 25% for quarter 2, 2020 (this is a reduction in expected turnover for Q2, 2020).
• The employer is best placed to determine that and may base this judgement on the decline in orders in March 2020, in comparison to February 2020.
• If, for some reason the decline in turnover was less than 25%, the business should retain documentation supporting its rationale for believing that such a decline would be suffered.
• That the business is unable to meet normal wages or normal outputs and any other indicators set out in their guidelines

We understand that Revenue will not be looking for proof of qualification at this stage. They may in future, based on risk criteria review eligibility. In this context employers should retain their evidence/basis for entering the scheme.  The critical requirement is to be able to show significant negative economic disruption due to COVID-19.

As outlined above, an employer that has been hit by a significant decline in business but has strong cash reserves, that are not required to fund debt, will still qualify for the Scheme but the Government would expect the employer to continue to pay a significant proportion of the employees’ wages.

The declaration by the employer is not a declaration of insolvency. The declaration is simply a declaration which states that, based on reasonable projections, there will be, as a result of disruption to the business caused or to be caused by the Covid-19 pandemic, a decline of at least 25% in the future turnover of, or customer orders for, the business for the duration of the pandemic and that as a result the employer cannot pay normal wages and outgoings fully but nonetheless wants to retain its employees on the payroll.

 

Further updates in relation to HR Matters

Lay-Off – Right to Request Redundancy Removed Temporarily
Emergency Measures, in the Public Interest (Covid-19) Bill 2020, outlines: Section 12 of the Redundancy payments acts shall not have effect during the emergency period in respect of an employee who has been laid off or kept on short-time due to the effects of measures required to be taken by his or her employer in order to comply with, or as a consequence of, Government policy to prevent, limit, minimise or slow the spread of infection of Covid-19. This will mean, once enacted that employees who have been temporarily laid off or are on short time as a result of the crisis will be unable to request redundancy after 4 weeks of Lay-off.

Benefit In Kind (BIK) and Lay-Off
If an employee is being paid, or receiving BIK, then they are considered to be in employment. If the employee is laid off and the employer wishes to continue an existing value BIK arrangement (e.g. modest health insurance, company vehicle) on the expectation that the employee will resume work then the employer can allow the employee to use the scheme but the employer will be required to report and tax the BIK benefit at a later stage. Full records of BIK should be maintained.

The Government has introduced this scheme with the spirit of helping Employers to retain employees where their business circumstances have deteriorated dramatically. It will hopefully aid many members to protect and maintain their employees.

Further guidance is to issue from the Revenue Commissioners over the coming days and Members should monitor the Revenue Website www.revenue.ie . We advise that Employer’s should satisfy themselves that they qualify for the scheme, before they make payments to the Employees and before they make a submission to the Revenue via ROS on line.

Posted: 27th March 2020

Guidance on Employer Elegibility Covid 19

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Vacancy for Trainee Chartered Accountant

David M. Breen & Co is a progressive, two partner Waterford based accountancy and business advisory firm offering a wide range of accountancy, auditing, taxation, bookkeeping, insolvency and business advisory services.

We are looking for a Trainee Chartered Accountant to join our team – start date 2nd September 2019.

The successful candidate will work in a professional team and experience different clients and types of projects in conjunction with their academic training programme.
This position is open to business graduates with a minimum 2:1 honours degree with CAP1 and/or CAP2 exemptions.
This position will involve a 3 or 3 ½ year training contract leading to the ACA professional qualification.

The following attributes are necessary: –
• Have studied a relevant accountancy or business degree.
• Excellent problem-solving skills with a practical hand’s on approach.
• Ability to work to tight deadlines.
• Highly motivated and professional.
• Have excellent communication and interpersonal skills.
• Computer Literate, in particular, proficient in Excel.
• Commitment to providing excellent client service.

Applications including CV via email davidmbreenhr@gmail.com
Closing Date: 31st July 2019.

 

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Caroline Bannon, has been named as the incoming President of Network Ireland Waterford

Caroline Bannon, Partner in David M. Breen & Co was recently named as the incoming President of Network Ireland Waterford, currently the 5th largest branch in the country, which supports the professional and personal development of women in business.

Caroline brings a huge appreciation of networking and support for other working women. Caroline alongside the 2019 Committee has great plans for the growth and development of the branch and has a diverse range of upcoming events planned, including LinkedIn for Business, Brand Building, a HR clinic focussing on recruitment and retention of staff in small businesses, and much more.

Summarising the benefits of Network Ireland Waterford for women in business, Caroline concluded that “the benefits of joining Network Ireland Waterford are many, from the monthly events and learning opportunities, the network of members and organisations that we partner with (such as the Local Enterprise Office, Waterford Chamber and Waterford Area Partnership), the Businesswoman of the Year awards and crucially, the Mentoring for Success programme. Your membership delivers significant value and it is up to each member to maximise the opportunities afforded by it.”

Caroline Bannon Named President of Network Ireland Waterford Branch 2019, also pictured is outgoing President Aisling O’Neill.

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Vacancy for Trainee Chartered Accountants

David M. Breen & Co. is a two partner Waterford based accountancy and business advisory firm offering a wide range of accountancy, auditing, taxation, bookkeeping, insolvency and business advisory services.

We are looking for enthusiastic graduates to train as chartered accountants for start dates in Autumn 2019.

We have a strong portfolio of clients in a wide range of sectors and you will have the opportunity to get excellent experience in addition to your academic training programme. Our teams are professional, friendly and supportive and we place a strong emphasis on helping you to develop your career and achieve your personal goals while maintaining good work life balance.

This position is open to business graduates with an honours degree with CAP1 and/or CAP2 exemptions and will involve a 3 or 3 ½ year training contract leading to the ACA professional qualification.

Applications including cover letter and CV via email julie@davidmbreen.ie.

Closing date 15 February 2019 – This post is now closed

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Brian Flynn & Co. are merging with DMB.

We are pleased to advise that the Firm and staff of Brian Flynn & Co (formerly of Clinton Flynn) will merge with David M Breen & Co with effect from January 1st 2019.

David M Breen & Co is a long-established local firm with two Partners and a complement of professionally qualified staff.

This merger will consolidate the firms as one of the top accountancy practices in Waterford. The larger firm will bring many years of experience to the table and provide a wider and enhanced array of services to all clients while maintaining the reputation for personal service that each firm holds.

Post-merger, all activities will operate from the offices of David M Breen & Co, Wallace House, Maritana Gate, Canada Street, Waterford with all staff located at these premises.

 

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Waterford Tech Firm starts trading on Irish Stock Markets

Waterford Tech Firm VR Education Holding PLC started trading on the Irish Stock Market. David Breen & Jenny Kiely from our office were delighted to join Sandra & David Whelan at today’s admission of VR Education Holdings PLC to the Irish Stock Exchange.

Pictured below:
Seamus Larrissey Financial Controller, David Whelan CEO, David Breen, Jenny Kiely & Sandra Whelan COO.

Seamus Larrissey, David Whelan, David Breen, Jenny Kiely & Sandra Whelan.

VR Education Holdings listing on the ESM of the Irish Stock Exchange.

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