Monthly Archives: October 2016

Keeping Your Limited Company Compliant

One of your main priorities as a business owner is to oversee your company’s accounting and tax obligations. A good Accountant is worth their weight in gold, and can take a huge burden off your shoulders. They can take care of your company’s annual returns, payroll, VAT returns, CT returns and statutory annual accounts. It is vital that you choose a dependable Accountant to carry out these tasks as mistakes can be costly.

 

Ensure your company secretary is capable and keep your statutory registers up to date

By law, every Irish company is required to appoint a company secretary. The main duties of a company secretary are to ensure that the company complies with the law, manage the company’s daily administration and any additional duties that company directors may delegate. Whilst there is no qualification requirement for this role, it is important that your company secretary possesses the skillset and knowledge required to keep your company compliant.

The secretary will generally maintain the statutory company registers, which are required to be maintained under the Companies Act. The statutory registers include the register of directors and secretary, members, beneficial owners, transfers, directors and secretary’s interests and debenture holders.

 

Know your dates and put your company on a ‘watch list’

Once your company has been incorporated, it is good practice to add your company to a ‘watch list’.  A watch list will remind you via email that your company’s Annual Return Date is approaching and it will alert you should any changes be made to the company at the Companies Registration Office. Core.ie provides this service free of charge once you register with them.

 

Understand your role as a director

Company directors’ have a wide range of responsibilities which can be quite diverse. Company directors have to comply with the Companies Act 2014 and have duties under Common law. If a director is found to have breached company law, he or she can be liable to penalties that can range from a fine up to €500,000 or a maximum jail sentence of 10 years. There are different categories of offences ranging from 1-4 under the Companies Act.

To avoid such circumstances, company directors should become familiar with the responsibilities and duties of the role. Information can be found on both the CRO and ODCE websites.

The Most of National Digital Week

It might be most famous these days as the home of Olympic heroes Gary and Paul O’Donovan, but Skibbereen is rapidly gaining a reputation as a centre for digital excellence in Ireland. This week, the eyes of the tech world will be on West Cork as the country’s best and brightest come to town for the second annual National Digital Week, backed by AIB. From the 10th to the 12th of November, attendees can take in talks and demonstrations from over 70 experts, visionaries, and movers and shakers in the global tech scene.

As part of our ongoing commitment to the digital sector in Ireland, AIB are the lead sponsor of Skibbereen’s Ludgate Hub, Ireland’s first rural Digital Hub. The Hub offers local businesses world-class fibre-optic broadband in a state of the art 10,000 sq ft facility that rivals anything in Silicon Valley. AIB has also sponsored National Digital Week since its inception last year, and we’ve got big plans this year with a fantastic line-up of speakers on the AIB Brave Stage all week. Read on for our insider’s guide to the best talks, workshops, and entertainment at this year’s National Digital Week.

 

Who to Catch

Kick off the festival on an inspiring note at the AIB Brave Stage, with some uplifting stories from our Digital Champions – including Trendster’s Harry McCann, Lord David Puttnam, and Dr. Seamus Davis from Cornell University. Or dig deep into the future of farming, with talks and demonstrations on tech, innovation and food science, from luminaries like Drone Expo Ireland’s Ian Kiely, THRIVE AgTech’s John Hartnett, and our own head of Agri Business, Tadhg Buckley – all on the Google Stage. We’ll be shining the spotlight on female leadership on Friday, with FM104’s Margaret Nelson, Geraldine Karlsson from DoneDeal, and Ericsson Ireland MD Zelia Madigan taking the temperature of women in digital. On Saturday, we’ll be talking all things Internet of Things, with Leonard Donnelly from ARTOFUS, Donal Sullivan of Johnson Controls Ireland, and Debbie Power from Vodafone. And if you’re a business owner, make sure to stop by the Google Digital Garage all day Friday and Saturday, where Google’s experts will be offering free one to one sessions for all festival attendees to give you a crash course in all the skills to take your company to the next level online.