* This Competition is now closed* Congratulations to our winners: Paul Dolan – Referral Competition Rachel McKeown – Employee Referral Competition Win a trip for 2 to Carré Marine, on the edge of Cannes Marina, France and stay in a beautiful apartment for 1 week with return flights included. To enter all you have to do is contact us directly with a referral – a new contact, that results in a preliminary meeting. We will then enter you into our draw. Contact us to make a referral today. Alan Farrelly Managing Director +353 42 933 9955 alanfarrelly@fdw.ie Terms & Conditions Competitions are open to Republic of Ireland and Northern Ireland residents aged 18 and over, with the exception of employees and their immediate families of UHY Farrelly Dawe White Limited, or anyone else professionally connected with the Promotion. Opening date is Tuesday 19 February 2019 and closing date is 02 May 2019. Referrals made after this final closing date will not be included in our draw. The prize is non-transferable. There is no cash or other prize alternative. In the event of cancellations, there will not be a refund of the prize value. No cash in lieu. By participating in UHY Farrelly Dawe White Limited promotions and competitions, you agree to be bound by the terms and conditions. Winners will be chosen at random from the draw from those who have correctly submitted their entry. Draw will take place on 03 May 2019 and the winners will be contacted directly. UHY Farrelly Dawe White Limited reserves the right to withdraw or amend this competition in the event of any unforeseen circumstances outside their reasonable control. Decisions of UHY Farrelly Dawe White Limited are final and no correspondence will be entered into. UHY Farrelly Dawe White Limited reserves the right to draw an alternative winner in the event that we believe that any winner has contravened any of these terms and conditions. UHY Farrelly Dawe White Limited reserves the right to draw an alternative winner in the event that no contact has been made within a 24 hour period. UHY Farrelly Dawe White Limited are not liable for any loss, damage or injury that might occur to the winner resulting from his or her acceptance of the promotion or prize. Entry into this competition will be deemed to be a full and unconditional acceptance by the applicant of the Terms and Conditions of this competition. A failure to adhere to these Terms and Conditions may result in disqualification from the competition and, if applicable, forfeiture of the prize(s). Entrants are deemed to have accepted these Terms and Conditions by participating in this competition. The Promoter reserves the right to seek and issue publicity on behalf of the Entrants. By entering the promotion, the Entrants agree to participate in publicity as reasonably requested surrounding the promotion. Proof of identity may be called for before the prize is awarded as a proof of age. #2019 #UHYFDWTeam

InterTrade Ireland – Brexit – Start to Plan Vouchers Are you a business looking to navigate your way through Brexit and are unsure what to do next? InterTradeIreland offers financial support up to £2,000 / €2,250 (inclusive of VAT) towards professional advice in relation to Brexit matters. This support can help your business get advice on specific issues such as movement of labour, goods, services and currency management. 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

This free download contains the most up to date and comprehensive tax advice in areas such as Income Tax, Corporation Tax and VAT. If you have any queries please feel free to contact a member of our Tax Team . Download #2019 #BusinessGuide #TAX #Tax2019

In this issue of UHY Global we look in detail at: CAN ARTIFICIAL INTELLIGENCE HELP TO MAKE THE WORLD A BETTER PLACE AND IF SO HOW? EASTERN PROMISE – Business with China is booming and changing… LUXURY AT ANY PRICE – what can we learn from the high end brands and how should we adopt their philosophy SUN, SEA AND CITIZENSHIP – do ‘Golden visas’ make sound economic sense? View UHY Global Issue 7 #2019 #BusinessAdvisory #UHYGlobalIssue

The hospitality VAT hike is effective from 1 January 2019 and hotels, restaurants and hairdressers are among those affected. You may have noticed an increase on the cost of your morning coffee this year. VAT was temporarily reduced to a 9% VAT rate for hotels, restaurants and hairdressing in 2012. In the 2019 Budget, the Minister of Finance increased the 9% rate of VAT to 13.5% for hotels, short term guest accommodation, restaurants, cinemas, theatres, hairdressers and barbers, museums and art galleries, and customers have been noticing the increase this month. If your business is one of the above trades, you should therefore apply 13.5% VAT to your sales (if applicable) with effect from 1st January 2019. If you have any queries, please contact a member of our Tax Team Jane Jackson Tax Manager +353 42 933 9955 janejackson@fdw.ie VAT is charged at different rates from 0% to 23% depending on the goods or services you provide. Find out more from Revenue.ie #2019 #BusinessinIreland #TAX #Tax2019

In our Winter 2018 issue: Too Late to Claim? Not Necessarily Plus some case studies on Personal Tax, Business Tax & Property Tax questions. Read the Winter Newsletter #2018 #UKNI

US businesses close behind with 29% of blockchain patents Chinese companies also have big lead in developing AI technology Governments may need to consider more R&D tax incentives 32% of all global patents for blockchain technology were filed by Chinese businesses last year, with 99 patents from a total of 314 filed with the World Intellectual Property Organisation (WIPO) in 2017, shows a new study by UHY, the international accounting and consultancy network. The study shows that US businesses are close behind with 92 global patents (29%), followed by Australian businesses with 40 patents (13%). UK businesses filed 34 patents related to blockchain (11%) with WIPO in 2017 (see table below). UHY says that Chinese businesses have invested heavily in blockchain technology in recent years, with the Chinese central bank supporting the development of a blockchain-based trade finance platform to help SMEs access finance. Bank of China also announced in August 2018 that investment in technology, including blockchain, would be 1% of the bank’s annual operating income. UHY adds that the biggest filer of global blockchain patents last year was nChain, a blockchain-focused research firm based in London and Vancouver, which filed 48 patents for blockchain technology at WIPO in 2017. In the United States, the largest filer of global blockchain patents was credit card provider Mastercard, which filed patents for developments including a system for offline blockchain exchanges. UHY explains that while European businesses have only filed a limited number of patents at the global level through WIPO, many have been more active at a local level. For example, while German businesses have filed no patents for blockchain technologies with WIPO in the last year, there have been six filed with the DPMA, the German Patent and Trademark Office. Chinese businesses are ahead in patenting new blockchain technology, but US is close behind Chinese businesses also lead the world in developing Artificial Intelligence technology The study also shows that Chinese businesses lead the way in the development of Artificial Intelligence (AI) technology, filing 473 from a total of 649 AI patents (31%) with WIPO last year. China is ahead of its global competitors by some distance in the race to build portfolios of intellectual property in AI. Its closest competitor is the United States, which filed 65 AI patents with WIPO last year (10% of the total). Only two global patents for AI technology were filed in the UK in 2017 (see table below). UHY says that Chinese businesses like Baidu – often described as the ‘Google of China’ – and technology and social media conglomerate Tencent are among the world’s leading developers of AI technology. Baidu filed the most AI patents at WIPO in 2017, with 183. In October 2018, Baidu launched an AI-powered translation tool which can translate spoken English into Chinese or German almost instantly. It also recently launched an AI-themed park in Beijing, which features self-driving buses and ‘smart walkways’ which track users’ exercise performance through facial recognition. The United States’ largest filer of AI patents with WIPO in 2017 was Berkeley-based startup Bonsai AI with seven. Microsoft announced its acquisition of the business in June 2018. Global competition over AI technology has heated up in recent years, with many national governments putting in place programmes to support businesses and universities in developing AI clusters and bringing technology to market. For example, Canada has introduced the CAD125 million Pan-Canadian Artificial Intelligence Strategy, which aims to increase the number of AI researchers in Canada, and develop AI clusters in Toronto, Montreal and Edmonton. In the US, the Trump administration announced in its 2019 Budget Request that artificial intelligence and autonomous and unmanned systems were Administration R&D priorities. New AI technology developments dominated by Chinese companies Rick David, Chairman of UHY, comments: “Blockchain and Artificial Intelligence could unlock significant economic growth over the coming decades, and businesses across the world are investing in making sure they benefit from that.” “Where countries are lagging behind in areas such as these, governments should consider tax incentives to encourage increased research and development.” “Developing Artificial Intelligence technology is also going to be critical in determining which businesses will emerge as leaders from the next industrial revolution. The businesses that are positioned best in the long term are those that benefit from private enterprise and government both investing to bring Artificial Intelligence technology to mass markets.” Kurt Lee, partner at UHY member firm ZhongHua Certified Public Accountants LLP in Shanghai, China says: “Development of blockchain and AI technologies are an important part of the China’s economic plans for the next two decades, as they could significantly enhance productivity. Both businesses and the government have made substantial investments in laying the groundwork for blockchain to play a central role in financial services in China.” Koko Yamamoto, Partner at UHY member firm UHY McGovern Hurley LLP in Toronto, Canada says: “Canada now has one of the highest concentrations of AI researchers anywhere, and Canadian universities like Toronto, Waterloo and Alberta have some of the world’s most advanced AI programmes. That rich environment has also translated into major investments in Canadian AI development by businesses including General Motors and Thomson Reuters.” Find out about our Technology & Software sector service offerings #2019 #Technology #UHYGlobal

Is the impending Brexit posing a serious threat to your business operations across European borders? Or is your business ready to grow exponentially by penetrating the European market? Let UHY FDW break Brexit barriers and assist your business to realise its full potential. Read our Be Brexit Ready service sheet for advice on the package we offer. Download #2019 #Brexit #BusinessGuide #BusinessinIreland

International Reach, National Presence, Local Knowledge We offer a range of mainstream and specialist professional services, ranging from ongoing compliance procedures to ad hoc projects and assignments. Learn about our firm and the services we offer in our Corporate Brochure. Download #2019 #UHYFDWTeam

Better Business Conference – January 2019 Join us for the Better Business Conference for solicitors, auctioneers and property management companies on 31 January. Venue: The Monasterboice Inn, Donegan’s Date: Thursday 31 January Time: 07:30 – 12:00 07:30 – 09:30 – Solicitors 10:00 – 12:00 – Auctioneers & Property Management Companies The Better Business Conference is a joint event with Bank of Ireland, Klyant, UHY FDW and UHY Insolvency which focuses on efficiency through technology and sector updates for the professional and business services sector, with the aim of helping you work smarter, better & faster. There will be presentations at each session from Bank of Ireland’s Head of Sectors, UHY FDW on the benefits of cloud accounting, UHY Insolvency on insolvency matters including debt negotiations and Klyant will discuss efficiency though technology. Contact us today to book your place For further details see below: Bank of Ireland Topic: Sector Insights & Trends Presenter: Pierce Butler, Head of Sectors Pierce has over 20 years commercial banking experience. He is responsible for leading the Sectors Team and developing and managing the delivery of the sector strategy. Prior to this, Pierce was Head of Capability and Performance for Business Banking where he was responsible for a team which developed and analysed Business Banking KPIs, managed business performance and developed a strategic approach to enhancing capability across the network. He has held many roles across Bank of Ireland Retail including Senior Relationship Manager for Wicklow, where he led a team in managing the financial requirements of a diverse portfolio of business customers. Pierce holds a BBLS Degree in Business and Legal Studies from UCD and a Postgraduate Certificate in Managing and Leading People. He is an Associate of the Irish Taxation Institute. Klyant Topic: Efficiency Through Technology Presenter: John Gilmartin, CEO A solicitor who has lead the team at Klyant for the last 5 years during which time Klyant became the market leading provider of accounting technology to the legal profession in Ireland. The company entered the UK market in 2018 and is launching in the North American market in 2019. John leads a team at Klyant who are passionate about building technology that will drive efficiency in their customer’s businesses and Klyant drives efficiency in its own business using only software systems that deliver clear results. John qualified as a solicitor in Ireland, England and Wales specialising in employment law with clients ranging from multinational corporations to owner managed companies. This experience coupled with his knowledge of the ever changing legal technology landscape means that John is an expert in his field. Presenter: Cormac O’Connor, VP of Sales Cormac manages the sales department in Klyant software and has been with the company for 3 years. The company now has more than 200 property firms using their software packages to manage their businesses. Klyant is a Property management software package that helps companies to manage the sales, lettings and management elements of their business, whilst also providing a full financial package too. Cormac has worked for Sony, Gamestop, and Microsoft and has also run his own business in the online digital space before joining Klyant. UHY Farrelly Dawe White Limited Topic: The Benefits of Cloud Accounting Presenter: Richard Berney, Director Richard became a partner of UHY Farrelly Dawe White Limited in 2008. He works with a myriad of clients from sole traders to multinational corporations. Richard’s expertise encompasses audit, tax, business planning and compliance services. He has extensive experience of advising successful and growing Irish privately owned businesses. Richard provides a complete service to his diverse client base using his vast experience in business advisory. Richard is also the lead director for the UHY FDW Cloud Team and our cloud service offering. UHY Insolvency Topic: Insolvency & Debt Negotiations Presenter: Eugene McDarby, Director Eugene is a Personal Insolvency Practitioner (PIP) and managing director of UHY Personal and Corporate Insolvency Solutions Limited Eugene is also Chief Executive Officer of Moneyvillage Ireland Ltd. www.moneyvillage.ie, the largest debt management company in Ireland with over €30m of Personal debt under management. Eugene is Former Chairman of APIP and one of Ireland’s Leading Industry Figures and media commentators. He has extensive executive experience in personal Insolvency, bankruptcy, debt management and the financial service Industry. Contact our Team Today to book your place Call Us +353 42 933 9955 Email Us info@fdw.ie #2019 #Events

The Business Guide to Cloud Accounting is an ebook from our UHY FDW Cloud team. It covers the basics, the benefits, implementing cloud accounting, case studies, testimonials and details of how our cloud accounting service differs. After reading this guide, you will have an understanding of the difference transitioning from a traditional accounting model can do for your business. “Even if your on-premise accounting solution seems to function “just fine”, the risk associated with maintaining old processes isn’t a question of capability – rather, it’s a question of whether or not you want to grow your business and maintain a competitive edge.” Download a free copy #2018 #CloudAccounting

Let’s have a look at three global trends impacting business: Generational Trends As Baby Boomers and Millenials grow older, shifts in the habits or life status of these groups will change business and the world as a whole. Baby Boomers (people born 1944-1964) are now reaching their retirement years in masses which means their relationship with money and possessions changes from accumulation to liquidation. People born in this time have collectively had a massive impact on economies. “They are moving from income earners and taxpayers to pensioners and welfare recipients. They are shifting from wealth accumulation to wealth liquidation. This trend will impact financial markets, economies and government policy.” Millennials, on the other hand, are heading into management roles, starting families and finding homes. “They believe in “access over ownership”, choosing to stream music rather than own albums and preferring Uber and AirBnB over cars and holiday homes. The business models of the past simply don’t cut it with this group.” Austerity “Governments will struggle to generate taxes to sustain the normal spending and borrowing habits of the past.” Governments have historically been bounded by a geographical location, but given large corporations act in a borderless fashion because of digital advancements – taxation is becoming more difficult. In the past, when governments failed to collect sufficient taxes from corporations, they were able to compensate from individual worker income tax. A combination of outsourcing cheap labour to foreign countries and a freer movement of people living and working in foreign countries, this will create friction. Consumption to Connection Successful businesses don’t just sell a commodity. A highly competitive marketplace has forged a new way of doing business, where there is an emphasis on creating a strong connection between the business and the customers. “Consumers want meaning, they want to see businesses that solve real problems and even tackle social issues. As we move into the 2020s, every entrepreneur will need to articulate what they stand for or stand against or face being bland and commoditised.” Resources: Irish Tech News #2018 #BusinessGuide #LatestTopics