Revenue have extended the deadline to apply for a phased payment arrangement with Revenue on ‘Non-Covid 19’ debts. Taxpayers, or tax agents acting on their behalf, now have until 31 October 2020 to finalise payment arrangements covering non-Covid tax debts. The reduced interest rate of 3% per annum will apply for outstanding ‘non-Covid-19’ tax debts, where there is a phased payment arrangement in place between the business or individual and Revenue by 31 October 2020.  ‘Non-Covid-19’ tax debts are debts that cannot be warehoused, i.e. older liabilities, including those from a compliance intervention, and debts not associated with COVID-19.  The 3% rate, which applies from the date of the agreement, is available across all tax types and is a significant reduction from the standard interest rates of 8% and 10% per annum that normally apply to late payments of tax. Revenue is strongly encouraging individuals or businesses who have not yet agreed payment arrangements in respect of ‘non-Covid-19’ tax debts with Revenue, and who now wish to avail of the reduced interest rate, to ensure the following steps are completed by 31 October 2020: ensure ‘non-Covid-19’ tax debt, across all tax types, is quantified through the filing of all relevant tax returns, and formally agree a phased payment arrangement with Revenue. Normal interest rates on late payment of taxes of 8% and 10% per annum will continue to apply to outstanding ‘non-Covid-19’ debts that are not included in a phased payment arrangement with Revenue by 31 October 2020 . The reduced interest rate will also not apply to unpaid taxes where Court proceedings for the recovery of that debt have been initiated or where judgments have already issued. If you would like to speak to one of our tax team professionals, please contact us: +353 42 933 9955 info@fdw.ie Niall Donnelly nialldonnelly@fdw.ie #2020 #TAX #Tax2020

In response to the ongoing COVID-19 pandemic, the Irish Government introduced a number of jobs stimulus measures which included the introduction of the “Stay and Spend” Tax Credit scheme. This incentive has been introduced to encourage people to support the Irish tourism sector. The credit will be available to taxpayers who incur qualifying expenditure from 1 October 2020 to 30 April 2021, subject to certain limits and conditions being met. There is no requirement for taxpayers to be on “staycation” to avail of the scheme. The maximum tax credit available under the scheme is €125 per person, or €250 in the case of a person who is married or in a civil partnership and is jointly assessed to tax. The credit can be offset against a liability to income tax and universal social charge (USC). Qualifying Expenditure  Qualifying expenditure includes expenditure on accommodation and food and non-alcoholic drink provided by a qualifying service provider. Food and drink provided on a “take-away” basis is not a qualifying service. The taxpayer must spend at least €25 on qualifying expenditure in a single transaction. Using the new Revenue Receipts Tracker App, they must submit proof of expenditure with their claim, along with details of the service provider, type of service received, total amount of expenditure incurred and how much of that expenditure is not qualifying expenditure (i.e. expenditure on alcohol). Qualifying Service  Qualifying services include the provision of holiday accommodation and food and non-alcohol drinks by a “qualifying service provider”. Qualifying criteria for Service Providers  Holiday Accommodation The holiday accommodation premises must be registered or listed with Fáilte Ireland. Food and Drink The food provided must be in a form suitable for human consumption without further preparation, supplied in a hotel, restaurant, café or licensed premises. The food and drink must be consumed on the business premises in which they are served. Food and drink provided on a “take-away” basis is not a qualifying service. The service providers should ensure that all receipts issued clearly show the name of the business that provided the service and an itemised breakdown of the services provided. Where a bill is split between two or more customers, each customer should receive an individual receipt for the share of the services they have paid for. The service provider must complete the Stay and Spend registration process and receive confirmation from Revenue that the service provider’s status is a qualifying service provider. A list of all qualifying service providers who are participating in the scheme will be available on Revenue’s website in due course. Registration for Service Providers In order to register as a qualifying service provider, the business must: Provide qualifying services, i.e. holiday accommodation or “sit-in” food and drink; Be registered for VAT; and Hold valid tax clearance certificate. Registration must be completed on Revenue Online Services (“ROS”) by accessing the “Stay and Spend – Service Provider Registration” link in “Other Services”. If registration is successful, a notice will be sent to the service provider’s ROS inbox. If registration is unsuccessful, the service provider will be advised that they are not a qualifying service provider along with the reasons that Revenue believe they do not qualify. If you would like to speak to one of our tax team professionals about registering your business for the scheme or have any questions about the scheme, please contact us: +353 42 933 9955 info@fdw.ie Niall Donnelly nialldonnelly@fdw.ie #2020 #Covid #GrantScheme #TAX

As part of the recently published July Stimulus package, the Irish government announced a new Employment Wage Subsidy Scheme (EWSS) which will replace the existing Temporary Wage Subsidy Scheme (TWSS) with effect from 1 September 2020. The EWSS is expected to run until 31 March 2021. Financial Provisions (COVID-19) (No.2) Bill 2020 (published on 24 July and signed on 30 July 2020), provides the legislative footing for this new wage support scheme and sets out various details of the scheme, including the employer and employee eligibility criteria; the rates of subsidy payable; and other administrative aspects. Eligible Employers To be eligible to participate in the EWSS, the employer must be able to demonstrate to the satisfaction of the Revenue that their business has been significantly disrupted by reason of COVID-19. Specifically the employer needs to demonstrate at least a 30% decline (or such other percentage as the Minister for Finance may specify) in either the turnover of the employer’s business or in customer orders received during the period 1 July 2020 to 31 December 2020, as compared to the same period in 2019. In cases where the business of the employee has not operated for the whole of the corresponding period in 2019, the following will apply: Where the business operations have commenced on or before 1 November 2019, the 30% decline test must be determined in 2020 by reference to the same reference period last year in which the business was in operation. For example, if the employer’s business commenced on 1 September 2019, then a 30% decline in the period 1 September 2020-31 December 2020 must arise as compared to 1 September 2019-31 December 2019. Where the business operations have commenced after 1 November 2019, the employer must be able to show that the turnover or customer orders during the period 1 July to 31 December 2020 will be at least 30% less than what the turnover or customer orders would have been had there been no disruption caused by COVID-19. The Bill provides that Revenue will publish guidelines to assist employers in determining whether the reduction in turnover/customer orders will occur by reason of COVID-19 and the disruption that COVID-19 is causing to business. The Bill requires employers to review their eligibility criteria at the end of each month for July 2020 to March 2021. If as a result of the review, it transpires that the employer does not meet the eligibility criteria they should withdraw themselves from the scheme on ROS with effect from the first day of the following month. Any employer who is entered in the register established and maintained under the Child Care Act 1991 will be considered eligible for the scheme without having to satisfy the reduction in turnover or customer order tests. This would include pre-schools, play groups, creches and other services catering for pre-school children in addition to creches etc that cater for primary school children. Tax Clearance In order to be eligible for the EWSS throughout the entire period, the employer must be entitled to a tax clearance certificate . An employer can only register for the new EWSS if they have tax clearance prior to entering. If a payroll submission in without a registration for EWSS being submitted, it will be rejected. This is a key requirement as it requires employers to be fully up to date with all tax filings and tax payments (if such tax amounts due are outside the scope of a warehousing agreement with Revenue). It is therefore absolutely essential that, should an employer have outstanding tax returns (e.g. VAT, VAT RTDs, Corporate tax returns etc) and/or outstanding tax liabilities (not covered by a warehousing agreement) that these outstanding tax returns are filed together with any outstanding taxes paid prior to entering into the new EWSS. Interaction with existing TWSS Where an employer is entitled to receive a subsidy for an employee under the existing TWSS during July and August 2020, the employer shall not also be entitled to claim a subsidy under the EWSS in respect of the same employee. Assuming employers meet the qualifying criteria, the EWSS will be available from 31 July for: TWSS employers who have non-TWSS employees (i.e. new hires), and Non TWSS employers, who have not previously availed of the TWSS Eligible Employees Any employee who was considered an eligible employee under the existing TWSS provisions will also be considered an eligible employee for the EWSS. When TWSS ceases to be claimed for an employee (latest 31 August) an EWSS claim can commence. The new EWSS extends the definition of eligible employee to now include an individual who is on the payroll of the employer at any time in the “qualifying period” i.e. at any time between 1 July 2020 and 31 March 2021. Previously, with a small number of limited exceptions, an employee was only considered eligible for the TWSS where they were included on the employer payroll on 29 February 2020. Revenue has now confirmed that in cases where TWSS was not previously being claimed, that payments under EWSS can be backdated to 1 July. The initial drafting of the bill excluded an individual who is a proprietary director of a company. It would seem, however, that following a government announcement on 31 July, proprietary directors who retain ordinary employees on payroll will also be eligible with effect from 1 September. A Finance Bill amendment is anticipated in respect of this. An individual who is connected with the employer (unless such connected person  received pay from the employer between 1 July 2019 and 30 June 2020 ) is excluded from EWSS under the Bill. The extension of the EWSS to seasonal workers and new hires is a very welcome development, particularly to those sectors such as hospitality or other seasonal businesses who perhaps were closed in February 2020 or operating at a reduced capacity. Rates of Subsidy Under the EWSS, eligible employers will receive a per-head subsidy on a flat rate basis which will be determined based on the amount of gross pay that the employer pays to the eligible employee as follows: Gross PaySubsidy Payable <€151.50€0€151.50 – €202.99€151.50 per week€203 – €1,462€203 per week>€1,462€0 Revenue have confirmed that EWSS support will be backdated to 1 July for eligible employers who did not qualify for TWSS. The rates payable under the new EWSS have been simplified considerably compared to the rates payable currently under the TWSS. Under the existing TWSS, those employees with gross pay in excess of €960 per week are not eligible for the subsidy. This upper gross pay limit has been increased to €1,462 under the new scheme. However, a lower gross pay limit of €151.50 is now provided for which doesn’t exist under the TWSS. The EWSS payments to the Employer will now be monthly and no longer weekly. The EWSS payments will be paid on the 14th of the next month. As a result, for weekly paid employees, the employer will not receive the EWSS repayment until six weeks after the first weekly payroll submission of that particular month. Tax & PRSI Revenue has confirmed that all gross payments made to employees under the EWSS should be fully liable to PAYE, USC and employee PRSI in the normal way. Employers will be required to operate PRSI on all gross payments to be made to their employees having regard to guidelines to be published by the Revenue. However a 0.5% rate of employers PRSI will continue to apply for employments that are eligible for the subsidy. Anti-avoidance The Bill includes a specific anti-avoidance provision which seeks to counteract contrived situations whereby any gross pay due to an employee is deferred, suspended, increased or decreased with a view to securing the wage subsidy or situations where an employee is laid off and removed from the payroll and replaced with two or more employees in relation for whom the subsidy would be available. If Revenue identify any such cases, the employer will be treated as having never been eligible for the scheme and any subsidy payments received would need to be refunded, together with possible interest and penalties. Publication As was the case for the TWSS, the names and addresses of all employers who receive a wage subsidy payment under the new EWSS will be published on revenue.ie Please contact a member of our Team for more information. +353 42 933 9955 info@fdw.ie Niall Donnelly nialldonnelly@fdw.ie #2020 #GrantScheme #Payroll #TAX

Smart city initiatives are sprouting across the globe, with the aim of creating truly connected cities for life and work.  In January 2020, Japanese car manufacturer Toyota revealed plans to build an entire city from scratch near the foot of Mount Fuji. Named for its integrated design, Woven City will not be large, but it will be smart. Around 2,000 residents will live and work in the 175-acre site initially, surrounded by some of the most sustainable and connected technology currently available. Woven City streets will hum with the sound of electric and driverless vehicles. Renewable energy will power its sustainably designed homes. Everything – people, vehicles, buildings – will be digitally connected, with inhabitants acting as the pampered lab rats of a real-world experiment in ultraefficient, AI-assisted urban living. “With people, buildings and vehicles all connected and communicating with each other through data and sensors, we will be able to test connected AI technology, in both the virtual and physical realms, maximising its potential,” said Akio Toyoda, Toyota’s president. PRESSURE ON INFRASTRUCTURE The concept of a smart city is not new, but growing concerns about climate change and overpopulation are driving ever-more ambitious projects. Scores of nations around the world are piloting their own interpretations of smart urban design, as authorities react to growing pressure on public amenities and city infrastructure. The Netherlands, for example, has adopted a nationwide Smart City Strategy, with the aim of developing projects that will create healthier, greener, more liveable urban environments. Paul Mencke, partner at Govers Accountants/ Advisors, UHY’s member firm in the Netherlands, says the need is obvious. “The ambition of the government arises from global developments such as urbanisation, climate change, labour participation, digitisation, mobility and natural resources becoming rare. These global developments have a disruptive impact on societal systems, and they put pressure on cities to create new business models,” he explains. Paul cites the example of his own city, Eindhoven, which is creating a 32-kilometre-long cycle loop around and through the city, currently in its final stages of construction. “The route is an example of a sympathetic initiative that has a positive combined impact on mobility (reducing congestion), the reduced use of fossil fuels, public health and parking problems,” he says. Dubai, meanwhile, has long embraced the concept of technology-driven urban living. Now, its Smart City 2021 initiative boasts the ambition of demonstrably improving happiness. It aims to embed technology into every element of public life, helping to create more satisfying interactions between inhabitants, businesses and government bodies. There are currently 545 planned or ongoing smart city initiatives, harnessing AI, blockchain and paperless technologies to drive efficiency. “The basic premise for smart city adoption is to ensure every aspect and transaction of daily life in the city adds to the happiness quotient of its residents, from a smart technology standpoint,” says James Mathew, CEO and managing partner of UHY James, based in Dubai, United Arab Emirates. While smart city technologies do not have to be digital – the Eindhoven cycle track is a case in point – many inevitably are. Dubai is a leader in blockchain adoption, for instance, with a blockchain community 5% larger than the global average. And innovation does not stop there, as James explains: “By 2030, Dubai is set to have the first smart police station with 25% of its workforce being ‘robocops’,” he says. “The first robot officer was launched in 2017 to patrol Dubai streets.” TECHNOLOGY FOR LOCAL NEEDS Around the world, cities are promoting smart technologies that best meet their specific needs. According to Sunil Hansraj, joint managing partner, Chandabhoy & Jassoobhoy, Mumbai, India’s Smart Cities Mission was created to help ease overcrowding in the country’s biggest cities. “Its aim is to provide the burgeoning middle class with an aspirational lifestyle in their own hometowns, rather than have a large population continually migrate to the larger cities – which are bursting at the seams,” says Sunil. Overcrowding is not unique to India, of course. Combined with overall population growth, urbanisation is likely to add another 2.5 billion people to cities globally over the next three decades. But a number of India’s cities have reached saturation point already, accelerating the need for smart city initiatives. The aim is to improve quality of life in India’s biggest urban centres, while at the same time making smaller towns and cities more economically viable, slowing the pace of internal migration. “Accordingly, the purpose of the Smart Cities Mission is to drive economic growth and improve quality of life by enabling local area development and harnessing technology, especially technology that leads to smart outcomes,” says Sunil. “Growth and development will enable smart cities to use technology, information and data to improve infrastructure and services.” Mexico, meanwhile, has seen the creation of ‘smart zones’. “They are ‘little cities’ in or near a major city,” says José Carlos Villegas, partner at Mexican member firm UHY Glassman Esquivel y Cía. “In addition, the Mexican technology firm Netcity is creating smart initiatives in Mexico City.” These smart zones are testbeds for technology that might eventually be rolled out across the country and, again, are aimed at helping to solve some of Mexico’s most pressing urban challenges. “With technology, we hope we can improve security systems, communication and telecommunication, electricity provision and clean water supplies,” says José. SMART MONEY Smart city initiatives aim to improve quality of life, and by doing so confer real economic benefits. For a start, they make doing business easier. A connected network of Internet of Things (IoT) sensors could alter traffic light timings in response to changing needs, making commutes quicker and smoother. Sensors on lampposts might guide vehicles to free parking spots. At the same time, blockchain technology could be used to speed up bureaucratic processes and cut red tape, while data gleaned from thousands of IoT devices could lead to better evidence-led business decisions. Smart buildings, meanwhile, can reduce energy costs while maintaining optimum conditions for creative work. And truly digital cities make home and remote working easier and more productive. Even before the first IoT sensor has been installed, the creation and management of smart city initiatives offers a significant opportunity for companies in a range of sectors. Telecoms providers, software firms, construction companies and component manufacturers are all scrambling to be involved in the first wave of smart city projects. Some forecasters estimate that the global smart cities market could exceed USD 2.5 trillion by 2025. That is an enormous figure, and the excitement around smart cities is real. SLOW PACE OF CHANGE For the moment at least, hype might be outpacing reality. While mega projects like Woven City create interest and publicity, in many cases the push towards smart cities is piecemeal, local and relatively small scale. In India, Sunil points out that the Smart City Mission was first discussed in 2014. Six years later, only 50% of the budget for projects has been allocated, of which about 75% has been released and an even lesser proportion utilised. “There is still some distance to go before the physical benefits will be visible,” he says. “The Covid-19 crisis is not going to hasten the progress of these projects and so for now the smart cities concept may remain just that – a great concept.” In Mexico, too, government inertia is slowing the pace of change. “For example, despite the fact that businessmen and investors are aware of the importance of clean energy initiatives and are willing to invest, the government is less proactive in promoting the use of clean energy,” says José. Paul says the current situation in the Netherlands is also a scattered picture of sympathetic initiatives. “While there are quite a lot of projects, they seem to be on a local level, and relatively small in size.” A CONNECTED FUTURE? Nevertheless, while the development of smart cities is haphazard at best, the direction of travel is set. Increasing pressure on urban environments will force authorities to act. Big business is eyeing an opportunity. Few cities are as far down the path to a fully connected future as Dubai, and the city is already seeing economic benefits. “Smart technology initiatives are expected to account for savings worth almost USD 1.2 billion through shared government infrastructure and services,” says James. “And Dubai has become a playing field for startups – the smart initiatives provide startups with a platform to scale their business and demonstrate their capabilities to contribute to the futuristic vision of Dubai.” Retail is a major contributor to Dubai’s economic success, and James says the city’s move to enhance data collection and analytic capabilities is providing the sector with new and valuable information. “The end objective of leveraging data and analytics in the retail sector is to gauge retail trends, analyse the performance of the sector and improve the environment for doing business in the city,” he adds. Dubai’s high-end retail sector may be unique, but it is one example of what smart initiatives can do for business when targeted at local needs. In the meantime, the fully connected city may be some way off, but it is on the way. When companies like Toyota start building entire neighbourhoods from scratch just to test their technology, you can be certain that the momentum behind the adoption of smart city initiatives is only going to increase. For more information about UHY’s capabilities, email the UHY executive office info@uhy.com  or visit www.uhy.com #2020 #Construction #LatestTopics #UHYGlobalIssue

View our Tax Book 2020 which has all the taxation information you will need covering topics such as Income Tax Rates, Investment, Retirements & Pensions, Employee Share Schemes and much more reflecting all changes announced in Budget 2020 Download Tax Book 2020 Request a printed copy of our Tax Book 2020 – email nicolamernagh@fdw.ie Contact our Team Today Contact our team with any queries you have Call us +353 42 933 9955 Email us info@fdw.ie #2020 #BusinessGuide #TAX #Tax2020

Ensuring that your loved ones are looked after is a priority for most of us. In these uncertain times it is more important than ever. The current pandemic has had a huge impact on our lives and has also seen individuals assessing their current position and wishing to ensure their loved ones are looked after by updating or making their Wills. Death is not something we like to think about or plan for but if you do some planning now you could ease the practical and financial issues your family may face. Not having a Will means your estate will be divided according to the laws of intestacy and that may not be what you wish as it can put your loved ones at risk. Making a Will is one way you can ensure your loved ones are looked after when you are not here to do so. Irish Inheritance Tax Under Irish tax law, an inheritance received by an Irish resident automatically falls within the scope of Irish Capital Acquisitions Tax (“CAT”) i.e. inheritance tax. The current rate of CAT is 33% and this can result in a significant and real financial strain on beneficiaries of a Will. There are various tax exemptions and reliefs from CAT available for beneficiaries/assets under a Will. Very many of these reliefs and exemptions require some forward thinking and consideration prior to an inheritance actually being received to ensure that the beneficiary/asset qualifies for the relief in question. As such, the key to limiting the financial impact and stress of CAT on your family members and beneficiaries is to plan in advance and this begins at the Will creation stage. It is very understandable to wish to get your affairs in order in these uncertain times and our tax professionals would be very happy to assist you and your legal representative in optimising the impact of CAT for your beneficiaries during the process of your Will creation and finalisation. CAT Tax- Free Thresholds Once you have made a Will you should review it every five years to ensure, it is still valid and up to date. This is important for a number of reasons including the fact that CAT can change with each annual budget. By reviewing and updating your Will you ensure that you maximise the benefit of any available tax reliefs/exemptions while also utilising the group thresholds allowed for your family members and beneficiaries. The current tax-free inheritance thresholds are based on relationships and are as follows: Group AGroup BGroup C Son, Daughter, including certain foster children and minor children of a predeceased childParent, Brother, Sister, Niece, Nephew, Grandparent, Grandchild, Linear Descendants of the TestatorAll other persons who do not fit within Group A or B €335,000€32,500€16,250 Is it possible to make or amend a Will during the COVID-19 Pandemic? In short, yes! The process will be slightly different to normal to ensure all parties adhere to current protocols. If you are considering drafting or updating your Will and wish to ensure that CAT is minimised for your family members then please contact our Care Team member Susan and she will organise a consultation with one of our tax experts via video call or over the phone, to begin the process. In certain circumstances for estates with significant assets values, it may be worth putting a life policy in place to cover any CAT liabilities for beneficiaries. Our Care Team can also organise a video or phone all with a trusted CAT insurance policy expert. Main Considerations On Drafting A Will We have set out below some of the main considerations you should give some thought to prior to drafting a Will. Review and take account of your assets Decide whom you would like to benefit Consider if you will need to appoint guardians to your children; Considered a trust arrangement Is there a specific asset you want someone to have Consider the tax implications for various beneficiaries of your Will; and Plan accordingly to reduce the CAT impact on your beneficiaries. Validity of a Will Please note that for any Will to be valid: You must be over 18 years of age You must be of sound mind Your Will must be in writing Your Will must be signed at the bottom of the document in front of at least two witnesses, neither of whom should benefit under the Will Some elements you should also be aware of: A Will has no affect until a person dies; Your Will can be changed at any time; Your marital status is of relevance when you make a Will; Subsequent marriages revoke a Will; If you are making a Will and have been separated or divorced, you will require advice in relation to the succession rights of former spouses or partners including their entitlements Making a Will is an ideal opportunity to benefit any charity and once your family and friends have been looked after, this is a great way to support a cause important to you Enduring Power of Attorney We always recommend to our clients to have an Enduring Power of Attorney in place. A Power of Attorney (POA) is a deed executed by an individual which empowers another person(s) to act on their behalf. One instance where appointing a POA is common practice is where a client is getting older or becoming incapable of looking after their financial affairs and themselves. Whilst this is not the only reason why someone may wish to consider granting a POA it is perhaps the most common. Important information when appointing a POA: It is a legal device that enables you to choose a person called an attorney to make certain personal care decisions on your behalf in the event of you becoming mentally incapacitated You may choose one or more attorneys You must notify two people that you have executed the power If you become incapable of managing your own affairs your attorney must apply to have your enduring power registered in the High Court The enduring power will not come in to force until it is registered Our Specialised Team Our team are working constantly to bring you the latest updates on all the changes affecting you and your business in the current climate. Our Care Team are available to assist you with your queries and will facilitate making an appointment via video call or phone call with any of our team experts. Keep up to date by signing up to our mailing list, follow us on social media and check our website for more details. Check out our COVID-19 Resource Centre to view information on supports available, updates from the Revenue Commissioners and more. We hope you and your families are keeping safe and well and we wish you continued good health. Susan: susanmcgeough@fdw.ie #2020 #Covid #TAX #Wills #Finance

Updates on financial supports and more In this publication, the 2nd version of our COVID-19 Supports publication published 22 April 2020, you will find information on a number of different supports available to assist your business in this difficult time. We provide updates of the support measures available to businesses operating in the Repubic of Ireland and Northern Ireland. Since our first version of this publication there has been further clarification regarding schemes including the: Temporary COVID-19 Wage Subsidy Scheme Coronavirus Job Retention Scheme Small Business Grant Scheme We have also seen updates on Companies Registration Office and Companies House operations as well as further information on the business supports available from Enterprise Ireland and Local Enterprise Offices. As this is a constantly changing environment we will continue to provide further updates in the weeks to come as we have more information. Ensure to sign up to our e-newsletter and follow us on social media to keep up to date on all updates. Our team is always available to assist you in any way we can and to ensure we continue to provide an exceptional level of client service we have created the UHY FDW Care Team who are available to assist with all your queries and arrange call backs for you with our professionals to assist you with creating an action plan. Download the COVID-19 Supports Publication Version 2 Contact our team with any queries you may have T: +353 42 933 9955 E: info@fdw.ie #BusinessGuide #2020 #Covid #BusinessinIreland #GrantScheme

UHY FDW are delighted to announce the launch of our UHY FDW Care Team. Susan McGeough & Nicola Mernagh will lead our Care Team. They will assist with all queries and arrange call backs for you with our professionals in our Tax, Corporate Compliance, Payroll, Audit, Advisory, Insolvency and Private Client Departments. Every business is facing new challenges whilst navigating the unique business environment we are in. Whilst our team are working remotely, we are dedicated to continuing to provide an exceptional client service. Our team are available to advise and assist you with your business needs and to provide support and guidance on a variety of areas. If you would like to speak to one of our professionals about your concerns, questions or needs, contact our Care Team and they will arrange a free, no obligation call back with a member of our team. We can assist you in a variety of areas including: Employment Advice & Financial Supports Temporary COVID-19 Wage Subsidy Scheme Self Employed Workers & COVID-19 Pandemic Unemployment Payment The Credit Guarantee Scheme Revenue Commissioners Supports Enterprise Ireland Supports Local Enterprise Office Supports Corporate Compliance The holding of Director / Shareholder meetings remotely and drafting of all support such as minutes and resolutions Advice on filings with the Companies Registration Office (CRO) & Companies House and should you wish non-filing structures Insolvency & Debt Restructuring Advice Formal restructuring procedures such as examinership and schemes of arrangement Insolvency procedures such as creditor voluntary liquidations Personal debt and mortgage advice whether by way of informal debt negotiation or formal arrangements through Personal Insolvency and Bankruptcy Family Wealth Protection & Restructuring Advice Wills Trusts Family and Corporate Succession Planning Litigation Support Contact the UHY FDW Care Team and we will organise a call back. Susan McGeough E: susanmcgeough@fdw.ie Nicola Mernagh E: nicolamernagh@fdw.ie UHY Personal & Corporate Insolvency Solutions Limited UHY Trust & Corporate Services Limited COVID-19 Update Check out our COVID-19 Update – This publication answers many of your questions about recently introduced supports for individuals and organisations including the COVID-19 employment supports, Enterprise Ireland schemes and many more Download We want you to know that at UHY FDW we are here to work with you in these challenging times to ensure you and your business can survive the challenge ahead. We attach some links that may be useful for you and please feel free to contact us with any queries you may have. We will share more information via our social media channels as it comes available so please ensure you are following us. @UHYFDW | Twitter | Facebook | LinkedIn | Instagram Check out our Tough Times Business Checklist Find more useful information on the following websites: Citizens Information Revenue CRO GOV.IE Please contact a member of our Team for more information. +353 42 933 9955 info@fdw.ie #2020 #UHYFDWTeam

The Department of Business, Enterprise and Innovation (DBEI) has proposed the COVID-19 Online Retail Scheme in response to the COVID-19 crisis. This is a competitive fund which will be administered by Enterprise Ireland on behalf of DBEI with a total fund size of €2 million. Applicants must be an Irish-owned retail enterprise that had 10 or more employees on or before 29 February 2020, have a retail outlet and have an existing online presence. The COVID-19 Online Retail Scheme is complementary to the Online Trading Voucher provided by Local Enterprise Offices for companies with less than 10 employees. The maximum grant available is €40,000. Successful applicants will be awarded funding to support a maximum of 80% of the project costs. The minimum grant amount payable is €10,000. Costs which successful companies will be eligible to claim for include: salary costs and consultancy fees to develop a digital strategy, enhance the company’s website or to provide training. The final date for companies to submit an application is 3.00 pm on Wednesday 20th May 2020. Full details of application process and eligibility rules will be published on the EI website shortly. To fully appraise companies of the application process and the key issues to be addressed in an application, they are hosting a webinar this Friday April 17th at 11.00 a.m. The Webinar will be for no more than 45 minutes and we would encourage all interested parties to participate. As numbers are limited, attendance is on a first come, first served basis. The webinar will be recorded and available on their website afterwards. Register prior to the event If you have any queries on the application process contact the UHY FDW Care Team and we will organise a call back to assist you. Susan McGeough E: susanmcgeough@fdw.ie Aoife Walsh E: aoifewalsh@fdw.ie COVID-19 Update Check out our COVID-19 Update – This publication answers many of your questions about recently introduced supports for individuals and organisations including the COVID-19 employment supports, Enterprise Ireland schemes and many more Download We want you to know that at UHY FDW we are here to work with you in these challenging times to ensure you and your business can survive the challenge ahead. We attach some links that may be useful for you and please feel free to contact us with any queries you may have. We will share more information via our social media channels as it comes available so please ensure you are following us. @UHYFDW | Twitter | Facebook | LinkedIn | Instagram Check out our Tough Times Business Checklist Find more useful information on the following websites: Citizens Information Revenue CRO GOV.IE County Meath Chamber Please contact a member of our Team for more information. +353 42 933 9955 info@fdw.ie #2020 #Covid #GrantScheme

COVID-19 Update Publication Over the past three weeks, we have been inundated with queries relating to all aspects of a businesses’ operation and finances including payroll, VAT, corporation tax, banking facilities, mortgage and loan payments, regulatory filings and other general audit and accounting matters. Indeed business owners are often asking us about some potential aspects and raising queries faster than the relevant authorities and other governing bodies are addressing them and indeed before guidance and regulations are even issued. We are all experiencing changes like never before, whether that be dealing with the Revenue authorities, Companies Registration Office, Social Welfare and Social Protection Offices, software and payroll providers, banks and financial institutions. As you are aware no two clients’ businesses are the same and indeed no two clients’ requirements are the same. View our comprehensive publication which we hope will provide you with most of the tools to help keep running your business in either the Republic of Ireland or Northern Ireland. We have referenced many websites where you can access additional information and at the same time we remain available at your disposal should you wish to discuss any of the contents with our team. Download the COVID-19 Update We know all businesses are now facing new challenges and we hope this newsletter will assist you in making the correct decision in these difficult economic times. UHY FDW remain committed to serving our clients and as your trusted advisor, our team will remain available to you as we continue to work away from the office with full access to all client services as before through our dedicated IT platform. We look forward to your feedback and any questions or queries you may have over the coming days or weeks and look forward to assisting and supporting you and your business through these challenging times and to continuing to work with you over the months and years ahead. Contact our team with any queries you may have T: +353 42 933 9955 E: info@fdw.ie #2020 #BusinessinIreland #Covid #GrantScheme

Revenue changes date for payment of Local Property Tax (LPT) to 21 May On 16 March 2020, Revenue issued key guidance to property owners who are due to pay Local Property Tax (LPT) on 21 March 2020. For property owners who opted to pay their LPT for 2020 by Annual Debit Instruction or Single Debit Authority payment, the deduction date will change from 21 March 2020 to 21 May 2020. Property owners who have opted to make a payment by Annual Debit Instruction or Single Debit Authority do not need to advise Revenue or take any action. The payment date will be changed automatically to 21 May 2020. [Source: Revenue.ie ] We want you to know that at UHY FDW we are here to work with you in these challenging times to ensure you and your business can survive the challenge ahead. We attach some links that may be useful for you and please feel free to contact us with any queries you may have. We will share more information via our social media channels as it comes available so please ensure you are following us. @UHYFDW | Twitter | Facebook | LinkedIn | Instagram Check out our Tough Times Business Checklist Find more useful information on the following websites: Citizens Information Revenue CRO GOV.IE County Meath Chamber Please contact a member of our Team for more information. +353 42 933 9955 info@fdw.ie #2020 #Payroll #TAX #Tax2020 #Property

Important Updates from CRO and Companies House The Companies Registration Office (“CRO”) have just announced that all Irish company Annual Returns that are due to be filed between now and 30 June 2020 will be deemed to have been filed on time providing that all elements (the wet ink signature page of the B1 and the electronically filed financial statements) have been completed and submitted to their offices by that date. The situation will be kept under review and the CRO could extend this deadline, depending on how the situation develops. Companies Registration Office (CRO) Update The Registrar of Companies has decided that all annual returns due to be filed by any Company now and up to 30th June 2020 will be deemed to have been filed on time if all elements of the annual return are completed and filed by that date. This will enable businesses and their financial advisers to focus on the more immediate financial challenges facing them at this time. The situation will be kept under review and the date of 30th of June may be extended depending on the situation as it develops. If you are due to complete your annual return filing at any time up to 30th June your annual return will be deemed to have been filed on time if you capture the B1 form, upload your financial statements, pay the fee and submit it online and then deliver the signature page as normal to the CRO by that date. You may also complete the filing as normal using Revenue Online Services (ROS) signatures instead of a signature page. Please continue to file as normal during this period if you are in a position to do so. Annual returns may not be processed within the usual timeframes, however, anything received will be queued and processed as soon as possible. Further information can be found at  www.cro.ie , on our Twitter account @CRO_ie or by phoning 1890 220 226 [Source: CRO.ie ] Companies House Update All companies must send their accounts, reports and confirmation statements to Companies House every year. If a company’s accounts are filed late, the law imposes an automatic penalty. Your company should take appropriate measures to ensure accounts are filed on time. You should also  file your accounts online  if you’re able to. If, immediately before the filing deadline, it becomes apparent that accounts will not be filed on time due to your company being affected by Coronavirus (COVID-19), you may make an application to extend the period allowed for filing. Late filing penalties If you do not apply for an extension and your accounts have been filed late, an automatic penalty will be imposed. The registrar has very limited discretion not to collect a penalty. Each appeal is treated on a case-by-case basis, and we already have policies in place to deal with appeals based upon unforeseen poor health. Appeals based upon COVID-19 will be considered under these policies. Companies House Useful Resources: For the latest information and updates, see our  Coronavirus guidance for Companies House customers, employees and suppliers . Find out  how to apply for more time to file your company’s accounts Read our guidance on late filing penalties and appeals . Guidance: Filing your company’s accounts Guidance: Online filing and email reminders for companies Coronavirus (COVID-19): UK government response COVID-19: guidance for employers and businesses [Source: Gov.uk ] We want you to know that at UHY FDW we are here to work with you in these challenging times to ensure you and your business can survive the challenge ahead. We attach some links that may be useful for you and please feel free to contact us with any queries you may have. We will share more information via our social media channels as it comes available so please ensure you are following us. @UHYFDW | Twitter | Facebook | LinkedIn | Instagram Check out our Tough Times Business Checklist Find more useful information on the following websites: Citizens Information Revenue CRO GOV.IE County Meath Chamber Please contact a member of our Team for more information. +353 42 933 9955 info@fdw.ie #2020 #CRO #Payroll