Pearse Trust Blog

The UK: Open For Business  –  Post Brexit

Posted by Pearse Trust on Wednesday, Dec 07, 2016

Further to June’s Brexit vote, the UK continues to strive towards showing that it remains a major economic player, remaining firmly open for business. 

Amidst the uncertainty, there have fortunately been a number of positive events which help reinforce the ‘open for business’ mantra, some of which are summarised in brief in today's blog post. 

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Tags: United Kingdom, EU, brexit

Corporate Governance Best Practice

Posted by Pearse Trust on Monday, Dec 05, 2016

The Cadbury Committee 1992 defined corporate governance as "the system by which companies are directed and controlled." Numerous theories have been proposed on corporate governance best practice, none more popular than the shareholder and stakeholder theories.

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Tags: Corporate Governance

Audit Committees – The Facts In 2 Minutes

Posted by Pearse Trust on Wednesday, Nov 30, 2016

An audit committee can play a very important role in a company’s corporate governance policy. Any company in Ireland may set up an audit committee, however the Companies Acts do indicate that ‘public interest entities’ such as banks, insurance companies and companies with shares quoted on a stock exchange must have an audit committee.

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Tags: Directors, Corporate Governance, Audit

Choosing A Company Name In Ireland

Posted by Pearse Trust on Monday, Nov 28, 2016

Making A Name For Yourself

When incorporating a company, choosing the right company name is important. A company name must be unique. A name that is identical or overly similar to one which already exists will not be registered.

Where there is a similar company name in existence which obstructs the registration of a company name, it is possible to furnish the Companies Registration Office with a Letter of No Objection from the existing company to the use of the proposed name. For example, where the two companies will be associated or where the beneficial owner of both companies is the same.

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Tags: Ireland, Incorporation, Intellectual Property

The Importance Of Auditor Independence

Posted by Pearse Trust on Wednesday, Nov 23, 2016

The primary purpose of an audit is to provide company shareholders with an expert, independent opinion as to whether the annual accounts of the company reflect a true and fair view of the financial position of the company and whether they can be relied on. Independence is the main means by which an auditor demonstrates that he can perform his task in an objective manner.

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Tags: Ireland, Corporate Governance, Audit

What Is A Company Secretary in Ireland? – The Roles & Responsibilities

Posted by Pearse Trust on Wednesday, Nov 16, 2016

In Ireland, every company is legally obliged to appoint a company secretary. The company secretary is a communicator, facilitator, and legal advisor to the board and the company's shareholders. The company secretary also has ongoing communications with regulatory authorities such as the Companies Registration Office (the "CRO") and Revenue Commissioners. The company secretary should be independent when providing advice, suitably qualified and aware of the rights, duties and obligations of directors, shareholders and other third parties.

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Tags: Ireland, Corporate Governance

US Families Braced For Major Estate Tax Changes

Posted by Pearse Trust on Monday, Nov 14, 2016

A notice of proposed rulemaking issued by the United States Internal Revenue Service on 2  August 2016 has been described by one contributor to the ongoing debate as potentially the largest shake-up to US inheritance tax rules in 25 years.

Like many countries, the US taxes the transfer of assets from one person to another either by gift during their lifetime or by inheritance upon their death.

In 2016, transfers by an individual of an estate worth more than US$5.45m are subject to the estate tax, which has a top rate of 40%. This threshold is US$10.9m for married couples.

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Tags: Tax, USA

The Charities Regulator Gets New Powers To Protect  Irish Charities

Posted by Pearse Trust on Wednesday, Nov 09, 2016

The Charities Regulator in Ireland has announced commencement in September 2016 of Part 4 of the Charities Act 2009, which gives investigative and protective powers to the Charities Regulator. 

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Tags: Ireland, Tax, compliance

Ireland’s International Tax Strategy

Posted by Pearse Trust on Monday, Nov 07, 2016

Ireland, like many countries, is making changes to its tax regime in response to international pressure for more tax fairness and transparency.

It is a situation which is increasing tax uncertainty, not only in Ireland, but all over the world. Hence, the Irish Government has attempted to quell concerns over the direction it is taking with its tax system with the publication of its International Tax Strategy.

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Tags: Ireland, Tax

Canadian Intangible Property Tax Rules Are Changing

Posted by Pearse Trust on Wednesday, Nov 02, 2016

Changes to the rules related to intangible property were confirmed in the 2016 Federal Canadian Budget earlier this year, and are due to be introduced next year.

However, while the Government’s intention is to simplify the rules in this area, the final legislation could have serious tax consequences for entrepreneurs who sell their business after 31 December 2016.

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Tags: Canada, Intellectual Property