Go-2-Tender Workshop – Dublin North Event Details Title: Go-2-Tender Workshop – Dublin North Date(s): 13th & 27th June 2019, 9.00am – 5.00pm Venue: Maldron Hotel Dublin Airport Price: £85/€100 per person About the Event Go-2-Tender is an InterTradeIreland programme which has been developed to give SMEs the confidence, knowledge and practical skills to tender successfully for public sector contracts in their own jurisdiction and on a cross-border basis. The programme is geared towards SMEs who are new to tendering or who want to improve their basic tendering skills. The course consists of a two day workshop and a half day of mentoring. This mentoring may be extended by up to 2 additional days and all mentoring is delivered by an experienced consultant to assist with tender development. This is a two-day workshop which will take place on 13th and 27th June 2019. The workshops will be held at the Maldron Hotel Dublin Airport, Corballis, Dublin, K67 T6P6. There are more upcoming workshops throughout the country if you are interested in attending. Find out more course details here #2019 #Events

• Duties now cost 1.24% of $8.3tn in G8 imports • ‘Trump tariffs’ on steel, aluminium could see duties rise even further The cost of customs duties in G8 countries rose 4% last year from $99 billion to $103 billion, even ahead of the global ‘trade wars’, shows a new study by UHY, the international accounting and consultancy network. The G8 countries’ import duties now amount to 1.24% of their approximately $8.3 trillion in annual imports. UHY studied 20 countries around the world, calculating the value of their imports and the cost of duties on those goods and services (see chart below). There is potential for the cost of tariffs to rise even further in the coming years due to the effects of global trade wars. In 2018, the United States introduced tariffs on a range of imported goods including steel, aluminium, washing machines, solar panels, and 818 categories of goods from China. Several US trading partners have since responded by imposing retaliatory tariffs on imports from the United States. This has raised fears of a trend towards protectionism, which would increase costs for businesses and consumers worldwide. UHY’s research shows that the biggest rise in the revenue from duties among major economies was seen in China, which registered a 26% increase from $37.8 billion in 2017 to $47.7 billion in 2018. China is one of the countries that levied retaliatory tariffs on US imports in mid-2018. However, the two countries agreed to postpone planned mutual increases in tariffs from 10% to 25% following talks in December. US duties cost increased by 6.7% from $62.3 billion in 2017 to $66.5 billion in 2018. On several occasions, President Donald Trump has raised the prospect of the ‘Trump Tariffs’ policy being extended further. This could affect US car manufacturers who build vehicles in Mexico, as well as European carmakers. Rick David, Chairman of UHY, comments: “In an increasingly globalised economy, a trade war could affect both businesses and consumers.” “If trade disputes cannot be resolved by negotiation and result in substantially increased tariffs, there could be an impact not only on the cost of goods, but also economic growth and employment.” Clive Gawthorpe, Partner at UHY Hacker Young in the UK, comments: “The UK is in a very precarious position when it comes to trade deals and tariffs, as it prepares to leave the European Union, the world’s largest trading bloc.” “Some politicians had suggested that the UK would have dozens of trade deals already in place by the time it leaves the EU, but that seems to have been challenging to deliver in reality.” “A no-deal exit from the EU could prompt the Government to waive customs duties on some imported goods, to prevent businesses and consumers from being exposed to a steep rise in costs.” UHY says that Israel is one country that is seeking to decrease the impact of customs duties, following a 14% increase in the cost of duties from $2.5 billion in 2017 to $2.9 billion in 2018. Kobi Shtainmetz, Partner at UHY Shtainmetz Aminoach & Co in Israel, says: “Israel is looking to buck the global trend towards increased barriers to trade that has emerged in recent years. The Israeli Finance Ministry plans to abolish customs duties entirely on a range of household items, at a cost of around $1 billion per year.” “That is in addition to expanding trade deals, such as an exemption on customs duties for vegetable imports from Turkey.” Thomas Wahlen, Partner at UHY Wahlen & Partner in Germany, says: “There is a lot of uncertainty in the EU about potential future tariffs with the UK.” The biggest rise in the cost of duties among major economies was seen in China, which registered a 26% increase from $37.8 billion in 2017 to $47.7 billion in 2018 Please contact our Dundalk Tax Manager Jane Jackson or a member of our Tax Team for more information. Jane Jackson Tax Manager +353 42 933 9955 janejackson@fdw.ie #2019 #Custom #TAX

Planning for Brexit… Revenue have recently issued an e-brief advising on important steps that businesses that export goods into, import goods from or move goods through the UK should take to prepare for Brexit. It is important that businesses involved in such exports and imports obtain an EORI number – this is a customs registration number. UHY FDW can assist you in obtaining this EORI number from Revenue using the Revenue Online Service. If you move goods to, from or through the UK, please contact us so that we can register you for customs, if you have not already done so. Check out our Be Brexit Ready service offering Please contact our Dundalk Tax Manager Jane Jackson or a member of our Tax Team for more information. Jane Jackson Tax Manager +353 42 933 9955 janejackson@fdw.ie #2019 #Brexit #Custom

The Department of Finance has confirmed that the valuation date for LPT would be deferred from 01 November 2019 until 01 November 2020. The last valuation date for properties was 01 May 2013. There will therefore be no increase in LPT bills until 2021. According to the Department, due to there being “geographically uneven increases in residential property price levels”, further consultation is required to ensure stability for all taxpayers and also that increases should be modest and affordable. The Department also wishes to make sure that the LPT system remains as simple as possible. Please contact our Dundalk Tax Manager Jane Jackson or a member of our Tax Team for more information. Jane Jackson Tax Manager +353 42 933 9955 janejackson@fdw.ie #2019 #Property #TAX #Tax2020

Please note that there will be an increase in RPN’s for employers from the week commencing Monday 8 April 2019. This is because Revenue will be updating employee records over this first weekend in April to take account of the increase in Social Welfare payments. The payments affected are Illness Benefit, Maternity benefit, Paternity Benefit and pensions, and the increase came into effect from Monday 25 March 2019. If you have any questions regarding the above, PAYE Modernisation or any other payroll matter please contact our Payroll team who will be happy to discuss the options available to streamline your payroll. Please contact our payroll team for more information. payroll@fdw.ie +353 42 933 9955 Jane Jackson Tax Manager +353 42 933 9955 janejackson@fdw.ie #2019 #Payroll

Since 1 January 2019, Revenue has received payroll information (pay and statutory deduction details) from over 153,000 employers. This includes agents submitting information on behalf of over 94,000 employers. Under Regulation 10 of the Income Tax (Employments) Regulations 2018 an employee’s pay and deductions must be submitted to Revenue on or before the date of payment. These details are used to populate monthly statements which are available on the Revenue Online Service (ROS) by the 5th of the following month. Employers can accept this statement as correct or submit correcting payroll data before the 14th of that month at which time the statement is deemed to be the statutory monthly Return. Full details of these obligations are set out in Tax and Duty Manual Employers’ Guide to PAYE. In a small number of cases, payroll information was not submitted until after the end of the month. This is not sufficient and does not meet the statutory requirements. Employers (or agents acting on their behalf) are required to submit the payroll information on or before the date payments of emoluments are made. Revenue will continue to provide assistance to any employer who is experiencing genuine difficulty in complying with the modernised PAYE system. However, employers who fail to engage with Revenue or who persistently breach the PAYE Regulations should be aware that they are subject to a €4,000 penalty per breach under section 987 of the Taxes Consolidation Act 1997. If you are experiencing any difficulties complying with the new obligations or have any questions regarding PAYE Modernisation please contact our Payroll team who will be happy to discuss the options available to streamline your payroll. Please contact our payroll team for more information. payroll@fdw.ie +353 42 933 9955 Revenue eBrief No. 052/19 13 March 2019 Jane Jackson Tax Manager +353 42 933 9955 janejackson@fdw.ie #2019 #Payroll #TAX

If you are thinking about planning a short break, or if you just can’t wait to have a day off work again, you may be interested in all of the Bank Holidays and Public Holidays in Ireland for 2019: Sunday, 17 March – St Patrick’s Day Monday, 18 March – Bank Holiday * Friday, 19 April – Good Friday * Monday, 22 April – Easter Monday Monday, 6 May – May Day Monday, 3 June – June Bank Holiday Monday, 5 August – August Bank Holiday Monday, 28 October – October Bank Holiday Wednesday, 25 December – Christmas Day Thursday, 26 December – St Stephen’s Day Friday, 27 December – Bank Holiday * Wednesday, 1 January 2020 – New Year’s Day * Bank Holidays are not automatically Public Holidays There are 9 public holidays in Ireland every year, that celebrate a special day, such as St Patrick’s Day, or Easter. On these days, some businesses close. It is important to note that Good Friday is not a public holiday – some businesses do close but there is no automatic entitlement to paid time off work on that day. Most employees are entitled to paid leave on public holidays, unless they are part time and have not worked for their employer for at least 40 hours in total in the 5 weeks before the public holiday. If you are entitled to the benefit of the public holiday, you should receive one of the following: • A paid day’s leave on the day of the public holiday. • An additional day’s pay • An additional day of paid annual leave If you are a part time worker and have worked for your employer for at least 40 hours in the 5 weeks before the public holiday, the following rules apply: • If the public holiday falls on a day you normally work, you are entitled to a day’s paid leave. • If you are required to work that day, you are entitled to an additional day’s pay. • If you do not normally work on that day, you should receive an additional 1/5 of your normal weekly pay as compensation for the public holiday. • If you don’t have set weekly hours, you are entitled to 1/5 of your average weekly pay, calculated over the 13 weeks you worked before the public holiday. You should always ensure that your payroll provider is fully aware of the hours and days that your employees work, in order that they can accurately advise you on your employee’s entitlements. Please contact our payroll team for more information. payroll@fdw.ie Jane Jackson Tax Manager +353 42 933 9955 janejackson@fdw.ie #2019 #Payroll

Cross-border traders can now avail of two vouchers from InterTradeIreland. The first voucher – ‘Planning Voucher’ – provides 100% financial support up to £2,000 / €2,250 (inclusive of VAT) towards professional advice to help businesses to identify Brexit exposure and to plan. This includes issues such as customs requirements and supply chain exposure, VAT and financial implications, as well as understanding complex tariff codes. The second voucher – the new ‘Brexit Implementation Voucher’ – provides financial support up to £5,000 / €5,625 (inclusive of VAT), with InterTradeIreland paying 50%. This will allow businesses to implement critical changes making them better prepared to deal with a new trading relationship. UHY FDW are Brexit Service Providers InterTradeIreland launched the Brexit Advisory Service to assist SMEs to navigate the uncertainties caused by Brexit and to become better equipped to manage the potential impact it may have on their business by providing free, impartial, independent and up-to-date Brexit-related information to any business located in Northern Ireland or Ireland. The Brexit Advisory service currently offers information and support in a variety of ways including their start to plan vouchers. Contact us to find out how you can benefit from the Start to Plan Vouchers. Gareth Evans Practice Director +353 42 933 9955 garethevans@fdw.ie #2019 #Brexit #GrantScheme #UKNI

In our Spring 2019 issue: This season’s issue contains various interesting tax articles including: Writing Off Directors’ Loans: Taxing Times! IHT and Holiday Lettings: A (Rare!) Business Property Relief Succes HMRC Enquiries: How To Keep Private Records Private! Read the Spring Newsletter #2019 #UKNI

As the countdown to Brexit continues, UK businesses need to prepare for all possible outcomes. There is still uncertainty around what Brexit will mean and planning for what may still potentially be a “No Deal” scenario seems sensible right now. The Government has published guidance: “UK government’s preparations for a “No Deal” scenario” and it continues to provide updates on how to prepare for the event. See Gov.uk Cross-border traders can now avail of two vouchers from InterTradeIreland – the ‘Planning Voucher’ and the new ‘Brexit Implementation Voucher’ . Businesses that buy and sell from and to the EU including Ireland should have contingency plans in place which will need to be flexible to cope with a variety of possible outcomes. In the event that the UK exits the EU without a deal, either from 11pm GMT on 29 March 2019 or at a future date, many UK businesses will need to apply the same processes to EU trade that apply when trading with the rest of the world. Brexit requires you to have a good think about your future strategy planning. Take some time to think about what needs to be done sooner rather than later. Whether there is a “No Deal”, a brief delay in the UK’s departure, a “Deal” or a longer period of transition we advise all businesses to research all scenarios and “plan for the worst but hope for the best”. We have a more comprehensive “No Deal” Brexit planning checklist available for clients which you can download here – Brexit Ready Checklist UK We also have a Brexit Ready Checklist – Ireland version which you can get here Contact us to discuss your next steps. Read about the InterTradeIreland Start to Plan Vouchers Gareth Evans Practice Director +353 42 933 9955 garethevans@fdw.ie #2019 #Brexit #BusinessAdvisory

Ireland will be the EU Member State most affected by the UK’s decision to leave the European Union and we need to recognise that this is happening – the UK is leaving the EU and some things are going to change. Businesses that buy and sell from and to the UK should have contingency plans in place which will need to be flexible to cope with a variety of possible outcomes. There is still uncertainty around what Brexit will mean and planning for what may still potentially be a “No Deal” scenario seems sensible right now. The Department of Foreign Affairs and Trade have put in place a number of supports to help businesses of all shapes and sizes across all sectors of the economy. See the Department of Foreign Affairs for further details. Cross-border traders can now avail of two vouchers from InterTradeIreland – the ‘Planning Voucher’ and the new ‘Brexit Implementation Voucher’ . If a ‘No Deal’ still happens after March 2019 here are some of the areas you should consider: The UK will become a “3rd Country” for customs purposes as it will be outside the EU. Ensure you understand the basic principles underpinning and requirements of customs formalities for non-EU trade and how and where they apply, including import, export and transit formalities. For some businesses this will be new, so check out the Customs Brexit Information Seminar slides. If you trade regularly with the UK then you should consider an Economic Operators Registration and Identification (EORI) number and also register for Authorised Economic Operator (AEO) status which enables “Trusted” businesses to simplify their customs procedures. See Revenue for more details. In the event of “No Deal” all exports and imports to the UK may be subject to tariffs under the rules of the World Trade Organisation (WTO) despite what the UK have initially suggested. You will need to identify where “inputs” come from and which categories of product they fall into so you can work out the tariffs that will apply. If you have contracts with UK companies these may need to be redrafted to clarify the terms for trade, including VAT ans Customs changes. Enterprise Ireland has some further guidance . What’s clear is that Brexit requires you to have a good think about your future strategy planning. Take some time to think about what needs to be done sooner rather than later. Whether there is a “No Deal”, a brief delay in the UK’s departure, a “Deal” or a longer period of transition we advise all businesses to research all scenarios and “plan for the worst but hope for the best”. We have a more comprehensive “No Deal” Brexit planning checklist available for clients which you can download here – Brexit Ready Checklist Ireland We also have a Brexit Ready Checklist – UK version which you can get here Contact us to discuss your next steps. Read about the InterTradeIreland Start to Plan Vouchers Gareth Evans Practice Director +353 42 933 9955 garethevans@fdw.ie #2019 #Brexit #BusinessAdvisory #UKNI

In this issue we give you a free download with our Tax Booklet 2019, information on the InterTradeIreland Start to Plan vouchers and details of our new referral competition. If you have any queries please feel free to contact a member of Our Team . Download Sign up to our Newsletter #2019