From 1 January 2018 the National Minimum Wage will increase to €9.55 per hour. The changes in National Minimum Wage are represented in the table below. [table id=22 /] For the purposes of the Act, the following payments are regarded as wages: normal basic pay, as well as any overtime shift allowances or other similar payments any fee, bonus or commission any holiday, sick or maternity pay any other return or payment for work (whether made under the contract of employment or otherwise), any sum payable to an employee in lieu of notice of termination of employment. The following payments are not regarded as wages: any payment of expenses incurred by the employee in carrying out his/her employment any payment by way of a pension, allowance or gratuity in connection with the death, retirement or resignation of the employee or as compensation for loss of office any payment referable to the employee’s redundancy any payment to the employee otherwise than in his/her capacity as an employee any payment in kind or benefit in kind. For further information on the Act follow this link: National Minimum Wage A ct 2000 For further information or assistance with processing your payroll, please call Niall on +353 42 933 9955 or email niallclarke@fdw.ie . #2017 #Act #MinimumWage #Payroll

In our Winter 2017 issue: Don’t Waste Sole Trader Trading Losses An Inheritance Tax-Free Rental Property Business? Spouse’s Wages – Legitimate Expense Or Tax Dodge? Equity Release Pre-Letting Repairs Claim A Deduction For Training Cost Read the Winter Newsletter #2017 #UKNI

Some of the Big Business News Stories From the Last Few Days British firm Wasdell creates 300 jobs in Dundalk A British pharmaceutical services firm has said Brexit was one of the key factors in its decision to open a €30m testing and packaging facility in Dundalk, Co Louth, that will see 300 jobs created. Wasdell Group, which is based in Swindon in the southwest of England, said it would open a pharmaceutical packaging, testing and distribution facility in Dundalk, with the jobs spanning five years. Read the full article: IrishExaminer.com Dairy farmers are ‘not in the business of meat sales’ Dairy farmers are not in the “business of meat sales” – that was the clear message from one New Zealand agri-advisor. Kerry native Dr John Roche from the Down to Earth Consultancy firm has advocated the New Zealand-gene Holstein or Holstein-Jersey crossbred cows with a body weight of 500-525kg as the most efficient animal to maximise profits on grass-based dairy farms. Speaking at the recent LIC-Eurogene event in Co Limerick and Co Tipperary, Dr Roche dismissed concerns raised over the low value of male offspring from Holstein-Jersey herds, as he advised expanding dairy farmers to “definitely go for crossbred for an easier animal”. Read the full article: Independent.ie Taoiseach names Simon Coveney as new Tánaiste Taoiseach Leo Varadkar has announced Simon Coveney as the new Tánaiste, replacing Frances Fitzgerald. The Cork man, who was Mr Varadkar’s rival for the Fine Gael leadership earlier this year, will also continue to serve as Minister for Foreign Affairs and Trade with responsibility for Brexit. Read the full article: RTE.ie Bitcoin loses a fifth of its value in 24 hours after reaching record highs Bitcoin slid to as low as $9,000 today, having lost more than a fifth of its value since hitting an all-time high of $11,395 yesterday. The cryptocurrency fell as much as 8% on the Luxembourg-based Bitstamp exchange to hit $9,000 exactly, marking a fall of well over $2,000 in under 24 hours. Read the full article here: RTE.ie Read more on our blog Email Call Request a Call Back From Our Team #2017 #LatestTopics

Entrepreneurship – Top Tips Starting a business is now a serious option for the nation’s youth and many already have a business idea. UHY FDW are passionate about supporting young entrepreneurs in their ventures. That’s why we are starting a new Young Entrepreneur Series on our blog, to provide helpful business tips, interviews with successful entrepreneurs and advice from our own team. In our first Young Entrepreneur Series post, we look at the Top Tips for entrepreneurs. There are many ways entrepreneurs can become successful and every young entrepreneur will take their own path in the journey to success but here are some key points that will inspire every type of entrepreneur. Learn about your industry A good place to start is to find out as much about the industry you are entering as you can. Read about the industry, the statistics, what motivates the people in that industry. Make sure you are fully informed. Use this as an opportunity to network also by going to industry events and conferences. Don’t follow you competitors. Always be ready to pitch your business Ideally have the pitch down to one line. Always remember that less really is more when it comes to pitching your business, make your pitch sharp, factual, interesting and authentic. If you spark interest you can then ensure you speak about your mission, services and goals. Have your elevator pitch down to a fine art and ensure you are able to tailor it so you can fit the pitch to the person you are speaking to. “Whether you think you can, or think you can’t, you’re right.” – Henry Ford Believe in yourself You must believe in yourself and your business idea wholly in order to succeed. Overcome the self-doubt and the doubt you will undeniably receive from media, colleagues and industry competitors. Believe you can succeed and you will. “If you’re going to start a business, you need to really love it because not everybody is going to love it.” – Arianna Huffington Be passionate You must have passion, courage and conviction. Nobody else will be as passionate about your business as you are. Your passion will drive your results, it is your inner fire. When you see the results you will be even more ‘fired up’ to succeed – this is the energy that passion will bring to your venture. Without passion you will run out of the energy necessary to push your business forward. Learn from your mistakes You will make mistakes. Every business does. The key though is to view your failures as opportunities. If you have an open mind you can learn from your experiences, whether they are good or bad. Ensure you stay positive and focused on your goals, take action when you make mistakes and you will push through the obstacles lead your team and business to your objectives. Contact our Team Email Call Request a Call Back From Our Team #2017 #BusinessGuide #Leadership

GRID Finance GRID Finance provide finance solutions to the Business Sector. As a partner of the Restaurants Association of Ireland and Retail Excellence of Ireland GRID Finance have many customers in those sectors who avail of their facilities to complement their existing financial arrangements and provide working capital solutions. GRID Finance have €30m in institutional funding for these sectors. GRID Merchant Cash Advance Loan This is a cash advance solution that works with the company’s credit/debit card machine. It works with the natural trade cycle by facilitating flexible daily loan repayments thus having a low impact on cash flow. It allows the business to access cash from €10,000 – €150,000, repayments are made daily as a small percentage of your future card sales. This can be increased where the need is greater and can be re-paid from a multiple of businesses. In order to progress an application GRID Finance require the following: 1) Completed Business Financial Health Check 2) Last 6 Months Bank Statements for the business 3) Last 12 Months Merchant/Credit Card Statements for the business 4) Most recent Year End Financial Accounts (audited) 5) Most recent Management / Trading Accounts (P&L) GRID Finance provide credit approval within 48 hours (Once all documents are received). Cash can be advanced to customers within 2-3 working days thereafter. Application process is simple, no business plan or cash flow projections required. This is an ideal tool for existing business that need to inject liquid capital for the following: Expansion Refurbishments Inventory/Stock Equipment/Machinery Working Capital Revenue/Insurance Payments New Franchise GRID Finance is Irish owned and backed by Enterprise Ireland. GRID’s Cash Advance Facility GRID’s Cash Advance Facility is a short-term finance solution that works with your business and its existing credit / debit card machine. You can borrow up to €150,000 over a maximum of 12 months. Repayments are made daily as a small percentage of your future card sales until you have repaid the full amount. Contact GRID Finance www.grid.finance +353 1 524 1615 info@grid.finance Have you seen the full UHY FDW Service Suite Audit & Assurance Tax Advice & Compliance Insolvency Business Advisory Payroll Services Corporate Compliance Corporate Finance Forensic Accounting Request a Call Back From Our Team #2017 #Finance

Brexit Border This week we are discussing the border again, which is still the most topical issue around Brexit. The Irish border is a central sticking point in the current Brexit negotiations. With Brexit scheduled for March 2019, this is one of the key obstacles the UK must overcome before the EU will move on to post-Brexit trade talks. If the UK left the EU but remained in the single market and customs union, the border issue may not be so challenging. This issue has been complicated by the UK opting to leave Europe’s trading and free movement frameworks. This means that the Northern Ireland and Republic of Ireland border will be a dividing line between two separate regulatory and economic zones. Brussels believes a “soft” border can only be achieved if either the whole of the UK, or at least Northern Ireland, remains within the single market and customs union, or alternatively if the UK designs a new system that adheres to those regulations. Both Taoiseach Leo Varadkar and Foreign Affairs Minister Simon Coveney have said they want either the UK to remain in some form of customs union with the EU, or ensure there is no regulator divergence between Northern Ireland and the Republic. The Irish government has been in a state of unrest recently with the possibility of a snap election looming. Today Frances Fitzgerald resigned as Tánaiste. In a statement issued by the Taoiseach, Leo Varadkar Tuesday 28 November, he said: “This morning, Frances Fitzgerald came to me to offer her resignation as Tánaiste and Minister for Business, Enterprise and Innovation. She is doing so to avoid an unnecessary and early general election that could have left the country without a functioning government and Oireachtas for several months at a crucial time for Ireland. “Over the next few weeks and months, the Government will need to focus on the Brexit negotiations, both phase one and phase two. We have a Finance Bill and Appropriations Bill to enact. Legislation to pass for public sector pay restoration and pension and social welfare increases. We also have the important work of the committee on the Eighth Amendment to complete, paving the way for a referendum next year. All of these would fall in the event of a general election.” “The work of the Government and the parliament must not be interrupted during this important period.” “In the meantime, the Government will continue to work for the good of the country. We will focus on the challenge of Brexit, and deal with the many other problems we are facing. We will not be distracted as we strive to do what is in the best interests of all the people.” In just over two weeks’ time, the Taoiseach will attend a summit of EU leaders in Brussels to put forward Ireland’s case in the Brexit discussions. We will continue to follow the progress on the Brexit border issue and all Brexit matters and will bring you further updates when the information becomes available. Sources: Breakingnews.ie, Independent.ie , Irishtimes.com After last week’s UK Autumn Budget an extra £3 billion to prepare for Brexit over the next two years was announced. It is said that the money will make sure the government is ready on day one of exit. It will include funding to prepare the border, the future immigration system and new trade relationships. View our UHY Autumn Budget Highlights Video InterTradeIreland Event As InterTrade Ireland committee members, UHY Farrelly Dawe White Limited will be attending a major event in Dublin on the 5th of December. The event seeks to help Irish businesses prepare for the effects of Brexit. The event will cover ‘Brexit related issues’ like VAT, customs, tax, and rules of origin. Attendees will hear current insights from Vincent Power of A&L Goodbody and other guest speakers. The chance to discuss Brexit related issues and ways to overcome these issues, using the knowledge of industry experts, businesses and the complete InterTradeIrleand Brexit advisory Service make the 5th of December a valuable day in helping businesses gear up for Brexit. UHY FDW is continually monitoring developments throughout the Brexit process and will offer advice as the process becomes clearer. If you would like to discuss Brexit – how it might impact you and your business – or, if you require a ‘Brexit-ready health-check’ from one of our business advisors please contact us. Call +353 42 933 9955 Email info@fdw.ie Email Call Request a Call Back From Our Team #2017 #Brexit #UKNI

Ireland’s Future Manufacturing Industry The manufacturing industry in Ireland is a crucial component in the Irish economy. In terms of employment, the sector employs 159,000 people between 4,000 manufacturers across Ireland. In addition to being the second largest employer in Ireland, the manufacturing industry has a net export figure of over €45bn and is an important source of revenue for the country. In 2016, Ibec launched the Irish Manufacturers Association (IMA) with an ambition for Ireland to have an international reputation for manufacturing across all key sectors through sharing best practise, developing deeper cross sectoral collaboration, choosing policies that strengthen our workforce and addressing business costs. The Irish Manufacturers Association (IMA) is an umbrella association drawing from Ibec’s Food and Drink, Pharmachemical, Medical Technology, ICT, Software, Plastics and Engineering sectors to engage with industry and government. One of the main areas of focus for the IMA association is ‘The Factory of the Future’. There is an awareness within the industry of how important advancements in technology are and more importantly, the adoption of new technologies, for continued growth in the industry. One key aspect of the ever-evolving manufacturing industry is the adoption of automation. Industry 4.0 is the direction of manufacturing globally. Industry 4.0 uses technologies such as digital fabrication, the Internet of Things, cognitive and cloud computing, robotics and artificial intelligence to make manufacturing “smarter”. Currently, Industry 4.0 has been adopted by 35% of companies, in five years it is said to rise to 76%. The future of manufacturing is heavily rooted in investment and developments in technology and Ireland is shaping itself to be at the forefront of this industry. The implementation of Industry 4.0 in Ireland will be aided by the developments of assisting industries like artificial intelligence and the Internet of Things. Artificial Intelligence (AI) is becoming a more dominant force in the manufacturing industry and the global economy. According to a research study from Microsoft, within the next three years, 75% of executives said that their companies will implement artificial intelligence. The artificial intelligence industry itself is developing, with 61% working within that space having received funding. AI is not bound on just the manufacturing industry. Global robotic specialists have built a humanoid robot that can move, listen and interact with humans. With the ability to ‘amplify our brainpower’, this robot powered by IBM Watson is also set to revolutionise other data-heavy sectors, including telecommunications, oil & gas, education and professional services. Read our article: ‘Why Artificial Intelligence Is Good For Us’ Sources:  Irish Times , IDA Ireland , Forbes , IBEC , CSO , strategy-business.com If you have any queries on this or any other tax matter contact our tax team: Jane Jackson, Dundalk +353 42 933 9955 janejackson@fdw.ie Mairead Rooney, Balbriggan +353 1 849 1633 maireadrooney@fdw.ie Email Call Request a Call Back From Our Team #2017 #BusinessinIreland #Manufacturing

UK Autumn Budget 2017 Highlights The UK Autumn Budget 2017 was presented on Wednesday 22 November 2017 by the Chancellor Philip Hammond. Watch our UK Autumn Budget 2017 video which highlights the main points from the Budget. Here are some of the points covered: Stamp duty will be abolished for first-time buyers purchasing properties worth up to £300,000 The higher-rate tax threshold will increase to £46,350 The tax-free personal allowance on income tax will rise to £11,850 in April 2018 The VAT threshold for small business will stay at £85,000 for two years Government will explore tax breaks for landlords who offer longer-term secure tenancies Click here for more in-depth information and to download a detailed Budget Summary from our UHY International member firm based in the UK, UHY Hacker Young. If you have any queries, contact our Tax Manager today! Jane Jackson, Dundalk Office janejackson@fdw.ie +353 42 933 9955 Email Call Request a Call Back From Our Team #2017 #UKNI

Some of the Big Business News Stories From the Last Few Days EU’s Barnier Warns U.K. on Bank Passporting and Irish Border The European Union’s chief Brexit negotiator Michel Barnier set out a series of red lines for the U.K., warning that banks would lose passporting rights and demanding a “specific solution” for Northern Ireland. “The legal consequence of Brexit is that the U.K. financial-services providers lose their EU passport,” Barnier said at a conference in Brussels on Monday. On the Irish border issue, he said: “Some in the U.K. say that specific rules would endanger the integrity of the U.K. single market but Northern Ireland has specific rules in many areas that are different.” Read the full article: Bloomberg.com CarePlus pharmacy to create 70 new jobs After months under wraps, LinkedIn has thrown open the doors of its new European headquarters in Dublin. The social networking site has been in the Irish capital since 2010, when it started with just three employees in the city. Now it has more than 1,200. Read the full article: Independent.ie Owner of Dublin-based Tour America Mary McKenna scoops ‘Woman of the Year’ award Tour America MD Mary McKenna was named overall Woman of the Year at the inaugural everywoman in Travel Awards. The Dublin woman scooped the impressive accolade at the event which celebrates the contribution women make to the multi-billion-pound travel industry. The overall Woman of the Year Award recognises “an extraordinary woman whose passion, success and accessibility makes her an exceptional role model and a great industry ambassador”. Read the full article: Independent.ie Ennis-based CupPrint to add 15 jobs through expansion Ennis-based company CupPrint, which manufactures compostable cups for markets across the world, has announced an expansion that will add 15 staff. It will bring the number of employees at the firm in Ennis to 120. The company, based at Ballymaley Business park in Ennis, is expanding its eco-friendly cup production facility and is embarking on the production of two new products; reCup and the Frugalpac Cup. Read the full article here: RTE.ie Zevas announces 50 new jobs for Cork Zevas Communications last week announced the creation of 50 new jobs in Cork. Zevas Communications, established in 2001, is a privately owned provider of outsourced customer contact solutions. The company serves a cross section of industry verticals, from Telecommunications to Financial Services across European and North American markets. The 50 new positions to be filled immediately, are as a result of Zevas’ sustained growth and development strategy, resulting in winning two new contracts with international global digital technology companies. Read the full article: Businessworld.ie Read more on our blog Email Call Request a Call Back From Our Team #2017 #LatestTopics

UHY Capability Statement 2018 An annual publication showcasing the breadth and depth of UHY member firms’ services and cross-border business development capabilities presented through a series of client case studies. This edition includes six case studies featuring a range of international clients across a variety of market sectors: engineering, financial services, health sciences & biotech, leisure and media & communications. Read Here #2017 #CapabilityStatement #UHYGlobal

NIFX – 7 Reasons Why Sterling Is Undervalued NIFX is a specialist foreign exchange provider built on decades experience, innovative technology, and a dedication to providing a highly-professional and effective service to Northern Ireland businesses. With NIFX you get a transparent solution to currency transfers. You have access not just to Euro and US Dollars but to over 100 currencies. You are aligned with state of the art foreign exchange management software which can be integrated into your own system or used on a standalone basis. Whether it’s live dealable online spot rates or the old-style telephone medium – either way NIFX deliver first-class spot and forward rates with an extremely efficient settlement. Stephen O’Hare: “This brochure is a straightforward synopsis of where the foreign exchange markets are trading currently and likely to trade – notwithstanding the ebb and flow of Brexit negotiations. However, as a Corporate Treasurer I understand that forecasts are not the panacea to managing currency risk; they can only assist a currency strategy and policy.” Download their brochure here Read more about NIFX NIFX stock finance lending solution gives you flexible credit to finance international and domestic purchases, so you never miss an opportunity to grow your business. For further information, please contact: Stephen O’Hare NIFX Limited 8 Ballynahinch St Hillsborough Co. Down BT26 6LB +44 (0)28 9268 3036 stephen@nifx.co.uk Have you seen the full UHY FDW Service Suite Audit & Assurance Tax Advice & Compliance Insolvency Business Advisory Payroll Services Corporate Compliance Corporate Finance Forensic Accounting Request a Call Back From Our Team #2017 #UKNI

These guides reflect the commitment of UHY member firms to providing outstanding real estate advice and offers the possibility for clients and members to connect directly with property experts in each country, identified in the guide. Given the scope and complexity of each individual country’s laws and regulations, this publication should be viewed as a tool by which readers may first become familiar with the issues involved. This guide reflects the commitment of UHY member firms to providing outstanding real estate advice and offers the possibility to connect directly with experts in each country, identified in the guide. The UHY global real estate guide has been developed to provide property investors with information on rules and regulations from over 70 countries featured in the guide, covering areas such as real estate regulations (e.g. deduction of expenses and interests), tax rates (e.g. VAT, wealth tax and inheritance tax) and also touches on some tax planning techniques. View our Real Estate Guide 2017 document #2017 #BusinessGuide #BusinessinIreland #RealEstate