Starting a Business // FM Accountants
At Frisby Associates, we understand and can assist you with the many issues that arise in starting a new business, from selecting the corporate structure most suited to your needs to taxation registration.
 
We believe that it is essential to structure your business correctly from the outset and we can advise you on the path most suited to your needs.

Tax Exemption for Start-Up Companies
In an attempt to encourage the establishment of new companies a three year remission from taxation from profits and capital gains for companies with a tax liability of less than €40,000 per annum was announced in Budget 2009. The aim is to provide a stimulus for entrepreneurs in a challenging commercial environment.

Companies that qualify will be fully exempt from corporation tax on trading profits and chargeable gains on the disposal of assets used for the new trade where the total amount of corporation tax does not exceed €40,000.

At the current rate of corporation tax i.e. 12.5% this equates to €320,000 of profits per year. Where corporation tax for the period is between €40,000 and €60,000, marginal relief will apply. No relief is available where corporation tax liability for the period exceeds €60,000.

This relief will apply for three years from the commencement of the new trade. Therefore the company could shelter from tax up to €960,000 of trading profits over a three year period.

The following conditions apply:

The company must be incorporated on or after 14th October 2008

The company must commence to trade during 2009

The trade must be a new trade and must not have been carried on previously by another person in the State.

The tax relief will apply for 3 years from the commencement of the new trade.

The tax relief does not apply to companies that are dealing in land or petroleum and mineral activities.

The tax relief does not apply to professional service companies.

The tax relief for companies operating in the road transport sector is restricted to a total of €100,000 over the 3 year period.

If you wish to set up a new business we can offer you the following services
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We have vast experience in advising new business start-ups on a variety of issues including:
• Setting up a suitable corporate structure
• Preparation of a business plan
• Assisting with Finance applications
• Selection of accounting software
• Key employee incentive programmes
• Tax registration and compliance
 
COMPANY SECRETARIAL
Company Law imposes certain duties on every company such as filing returns, circulation accounts, maintaining statutory registers etc. Failure to perform these duties can lead to criminal and financial penalties. Our company secretarial services can help you avoid this and ensure your company meets its obligations under Company Law.
 
We can assist you with:
• Company incorporation
• Registration of business names
• Maintenance of statutory registers
• Maintenance of statutory books
• Filing of Annual Returns
• Share issues and transfers
• Changes of directors/secretary
• Change of Registered Office
• Filing of statutory returns
• Provision of Registered Office
• Dealing with company strike off
 
The responsibilities of a company secretary are difficult. We will ensure that you met your obligations on time and avoid penalties.
 
BANKING AND BUSINESS ADVISORS
Frisby Associates has an excellent relationship with all major Irish banks and leading financial institutions through which we can assist you in the provision of business consultancy and services.
Our experienced corporate finance team is lead by a partner with over 15 years experience on many complex deals. We can advise you on all aspects of corporate finance including:
 
Mergers, acquisitions and management buyouts.
The vital elements of a successful merger, acquisition or management buyout are the right mix of people combined with cohesive objectives. 

We will:

• Develop an effectve and suitable strategy
• Plan and project manage the entire deal
• Make you aware of all potential risks
• Liaise with third party advisers
• Assist and advise you with negotiating an appropriate consideration
• Advise you on the accounting and taxation implications
• Advise you on the corporate structure
• Due diligence report services
 
We have extensive experience in due diligence investigations. We will tailor our investigative approach to your requirements. Our report to you will cover the activties of the target company and its financial postion. We will highlight any potential risk areas to you.
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BUSINESS VALUATIONS
Whether you are valuing your business for sale, succession planning or restructuring, a realistic and a comprehensive valuation is vital.  For acquisition we will value the target business to assist you in quantifying the purchase consideration.
 
DISPOSALS
If you are selling your business, you want to reap the rewards of your hard work. We work in partnership with our clients to achieve their desired results. Initially we will identify your objectives. We will value your business, prepare it for sale and manage the process to completion. Our tax specialists work closely with our corporate finance team to minimise tax burdens. 
 
RAISING CAPITAL FINANCE
We can advise you on the most suitable capital structure for financing an acquisiton for the growth of your business.  We will assist you with the preparation and / or review of your business plan and outline funding document.
 
We will:
• Review your existing financing arrangement
• Negotiate with and present proposals to financial institutions
• Arrange and structure finance
• Introduce you to potential sources of appropriate funds.
 
We have successfully completed many complex deals in all industry groups specialising in professional services, construction, tourism, retail, manufacturing, farming and leisure sectors. Our personal approach to doing business couples with our expertise results in our clients acheiving their goals.
 
BUSINES DIAGNOSTICS
Our business diagnostic software allows us to perform a powerful analysis of your business and give your business a complete ‘health check’. We can help you identify where improvements can be made and what can be done to enhance performance.
 
The process will identify the current situation of the business in its wider business environment and will reveal the current strengths, weaknesses opportunities and threats facing your business.
 
Our diagnostic tools leverage methodologies and approaches promoted by top-tier business schools and will give you full visibility into the issues you may face.
 
In addition, we can perform an analysis of the internal strategic and operational factors including the production process, marketing and sales, people, systems and processes and financial management practices.
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ACCOUNTING SUPPORT & MANAGEMENT ACCOUNT
Whatever your accounting needs, we can meet them in the most efficient and effective manner.  We adopt a pro-active approach to delivery of advice. We identify opportunities and areas for improvement when preparing and reviewing management and financial accounts.
 
Our expertise lies in advising sole traders, partnerships, limited companies and voluntary organisations. Our clients represent industry sectors including professional services, construction, tourism, retail, manufacturing, farming and leisure. They vary in size and include family businesses to complex groups of companies.
 
The key features of our accounting services are:
• Detailed planning in advance
• Preparation of financial statements.
• Preparation of management accounts on a monthly, quarterly or   annual basis
• Cash flow management
• Preparation of budgets and projections
• Margin analysis
• Implementing and improving financial and accounting systems and   controls.
• Fixed asset registers
• Financial and management reporting.
• Bookkeeping
• Preparation of VAT returns
• Advising with the implementation of accounting software.
• Statutory company filings (link to co secretarial)
 
The benefits to you are:
Minimum disruption to staff
Awareness of deadlines
Best practice and accounting standards within your business
 
We will make sure you are closely involved with us at the planning stage. We will listen to you and plan our work accordingly. We will help you to understand management and financial accounts and reports.
 
We avoid the use of technical accounting language and, as always, our expertise is available at competitive rates.
 
PAYROLL SERVICE
We believe the most valuable resource in any organisation is time.  We provide a complete payroll service that eases the time pressures on management.
 
Many organisations now use our payroll service. We calculate the net pay and PAYE/PRSI deductions. The numbers of employees in these firms can be as few as one and as many as 90. We can offer you :
 
• Professional and up to date advice on changes to PAYE / PRSI
• Experienced personnel
• Guaranteed confidentiality
• Assurance that all staff are paid on time using EFT (electronic funds   transfer)
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Key features of our service include:
• A payroll package tailored to suit individual companies (weekly,   fortnightly, monthly, four-weekly etc)
• No software costs for employers
• Provision of payslips
• Provision of reports designed to suit your needs
• Payment direct to employees' bank accounts
• Returns to the Revenue Commissiones filed on time
• Prepartation of P45 and P60s
• Preparation of P35 year end returns
• Fixed fees agreed in advance
 
TAXATION

Taxation Services to Businesses
Our tax practice is structured to meet the needs of our clients. 
We provide a comprehensive range of services from the completion of tax returns under the self assessment system to complex consultancy assignments and strategic tax planning, including :
 
• Corporate and general business tax advice
• Advice on the incorporation of a business
• International mergers and acquisitions services
• Stamp duty
• Advice on tax structures for the acquisition of investment property
• Reorganisations and reconstructions advice
• Planning advice for the owner-managed business
• Value added tax and customs and excise duties
• Assistance with PAYE
• Assitance with revenue audits
 
We advise all types of clients and have a particular expertise in the manufacturing, construction and property and retail sectors, as well as catering towards the needs of business start-ups.
 
Taxation Services to Individuals
We have a dedicated department focused exclusively on the needs of individual taxation. Our objective is to ensure that we understand your long term goals so that we can then devise appropriate tax strategies maximising timing advantages, tax reliefs and incentives.  A key part of this process is ongoing monitoring of your personal and family circumstances as they change and your varying risk profile.
 
To achieve this objective, we offer services to the following taxes:
• Income Tax
• Capital Gains Tax
• Capital Acquisitions Tax
• Foreign Tax
• Double taxation relief
• Tax planning ( link to succession planning )
• Stamp Duty
 
We offer an integrated approach on all aspects of tax planning regarding your existing / future investments and appropriate structures to meet your ongoing needs.
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