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Galway Races Brexit Factor

Ireland's Disappearing Fiscal Space 2016 - 2019

The 2 main reasons for failure within Start-ups and In-Company Improvement Projects

Change of Company Name under new Companies Act 2014 

Critical Success Factors for the Implementation of an Enterprise Resource Planning System

Google My Business

The 3 Biggest Challenges to Public Sector Projects in 2020

2019 PAYE and USC End of Year Balance

Calculate Underpayment of PAYE and USC on Covid-19 Temporary Wage Subsidy

Calculate Take Home Pay

COVID-19 Temporary Wage Subsidy Scheme

Galway Races Brexit Factor

The year 2018 is the 149th Galway Racing Festival.. The Galway Races Summer Festival along with other festivals in the City contributes to Ireland’s Tourism industry providing 230,000 jobs nationwide.

Galway Races

 

The short term impact to Irish tourism of Brexit has been the sharp weakening of sterling against the euro. There has been a substantial drop in the number of UK visitors to Ireland this year as the post-Brexit fall in sterling has made it more expensive to travel.  Outbound travel from Great Britain could see a decline of over 1 million trips because of Brexit and as a result the sport of kings at the Galway Festival will suffer. Read full post.

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The 3 Biggest Challenges to Public Sector Projects in 2020




Public Sector Projects - The 5 Biggest Challenges

 

1. Identification of outcomes.  The public sector project environment involves stakeholders with conflicting agendas.

2. Determination of the criteria for measuring success. The needs of the users of the final product can be difficult to assess amid varying political influences.

3. Competition for resources. The public sector project environment is subject to changing management priorities, particularly in times of political instability.

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Ireland's Disappearing Fiscal Space 2016 - 2019

                                                   

Fiscal Space

        1.        ‘Inversions’– Long Term

Corporate inversion is a term for the relocation of a corporation's legal domicile to a country with a lower rate of corporation tax. Continued measures by the US treasury to stem the flow of inversions will adversely affect the Irish Economy’s Fiscal Space. The impact will be felt as a gradual process over the next decade.

        2.        ‘Immigration’– Short Term

Immigration will impact on the Irish economy both directly and indirectly.

- Directly as immigrants are integrated into our economy - initial welfare payments and social housing provided will far outweigh tax contributions from migrants. Read Full Post

The 2 main reasons for failure within Start-ups and In-Company Improvement Projects

Organisations initiate projects, but cannot always deliver what was expected and, even on simple, straightforward projects there are many areas that can cause the sorts of problems that can lead to failure.

1. Quite often, people who become expert in their technical and operational roles are given project management responsibility. In many cases major issues arise on projects managed by competent technical individuals who do not possess the complimentary project management skills. Read Full Post

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Change of Company Name under new Companies Act 2014

The Companies Act 2014 requires that each company type be included as part of the company name. For some types of company this will require an alteration to be made to its name. The companies most affected are companies converting to or re-registering as Designated Activity Companies or Private Guarantee Companies.Boyle Practical Project Management is currently assisting Limited companies to come to grips with the Companies Act f. BPPM give the steps for companies to make the transition themselves in the form of an implementation plan.

Boyle Practical Project Management is now also assisting Designated Activity Companies (DAC) and Companies Limited by Guarantee (CLG) to come to grips with the Companies Act. The Implementation of the Act for DAC.’s and CLG.’s is somewhat more precarious than for Ltd.’s because of the name change requirement. The Companies Act 2014 provides that company names must include the company type suffix at the end of its name, unless exempted. The Companies Registration Office (CRO) has issued a number of Information Leaflets relating to the Act.

The Legislation

A company can change their name by filing a Change of Company Name Special Resolution G1Q, amended the Constitution and submit fee of €50 if filed on line/€100 on paper. The types of companies directly affected are Private Guarantee Companies and Companies Limited by Guarantee (CLG). Private guarantee companies are deemed to be Designated Activity Companies (DAC). These companies do not need to convert to DAC status but must make an adjustment to their company names. All Designated Activity Companies, which are limited by guarantee, must have the words “Designated Activity Company” or “Cuideachta Ghníomhaíochta Ainmnithe” at the end of their name unless exempted.  Read Full Post

Critical Success Factors for the Implementation of an Enterprise Resource Planning System

Successful implementation of systems has never been easy. Implementation of an Enterprise Resource Planning (ERP) system is a complex, lengthy and costly process. Despite the huge investment, there is extensive evidence that many companies experience considerable problems, particularly during the actual implementation phase. The Western Health Board is currently implementing an ERP system, as part of a programme to introduce ERP systems throughout the Irish Health Service. The name given to this ERP system is PPARS (Personnel, Payroll and Related Systems). Moving to an Enterprise Resource Planning (ERP) system will require significant business process re-engineering. The strategy of not conducting a prior business process re-engineering phase and using PPARS to engineer the processes concurrently to the implementation adds to the complexity and to the project expectations. PPARS like similar public service projects often begin with a dangerous blend of optimism, inexperience, enthusiasm, and uncertainty. The personnel involved often find themselves facing uncertainty and competing agendas, such as the Health Service Reform Programme and the Financial Information Systems Project (FISP). At the same time there may be over-optimistic expectations of likely outcomes, or even the actual demand for the product being provided. Without a proper understanding of the project’s challenges and implications at the outset, you may not have the right personnel or financial resources to handle it. Analysis of critical success factors and success criteria among the stakeholder groups in this research is intended to increase stakeholder understanding of the project and the factors contributing to its success. Read Full Post

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Google My Business

Google My Business is the world’s most popular search engine and has a free tool that lets you manage your presence on Google. It lets you to share the story of your business with photos and reviews. Google has released a suite of updates recently, making Google My Business more powerful than ever for local businesses. Google is making it easy for searchers to do almost all of their research about a company within the search results page. If you are a local business owner, the top three listings that show on a Google search are precious.

BPPM provides you with an easy to follow guide which takes you through creating, claiming or verifying a listing as well as how to use the features that can help you to grow your business and get the most out of your Google My Business page.

Here is a look at my Project Management Business when I search on Google for Project Management Galway.

Project Management Galway

There it is at the top of the pile. When I click into it here is what I see.Read Full Post

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2019 PAYE and USC End of Year Balance

If you have claims for medical expenses, non routine dental expenses etc, there is no real need to complete the Gross Pay to Net Pay Calculator, just complete a tax return to claim refunds of any PAYE. The Gross to Net Pay Calculator can be used at the end of the year to check that your statutory deductions as outlined on you payslip for the final payment of the year are correct. Claim refunds of PAYE or USC for 2019 is you determine that you have overpaid.

Tax Certificate

At the start of the tax year, the Revenue Commissioners will send you a notice of determination of tax credits and standard rate cut-off point. This shows the rate of tax that applies to your income and the tax credits that reduce the tax payable. If your circumstances change during the year, Revenue will issue a revised certificate. Enter the annual tax credits and standard rate cut-off in the cells provided for these amounts in the Gross Pay to Net Pay Calculator 2019. 

If you do not have this notification from the Revenue Commissioners at hand, all of the figures to be entered in the Gross to Net Calculator can be derived from your pay-slip. Read Full Post

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Calculate Underpayment of PAYE & USC on Covid-19 Temporary Wage Subsidy

The simple instructions given here will enable anyone in receipt of the Covid-19 Temporary Wage Subsidy and remains in employment to the end of 2020 with income above the tax threshold to use the gross pay to net pay calculator to determine the amount of their underpayment:

1.  Go to the 1st pay-slip you received that includes the Temporary Wage Subsidy
2.  Enter the pay frequency, annual tax credit and cut off point, tax basis and period
3.  Select J9 as the PRSI class as this is the class as directed by Revenue
4.  In the “Taxable pay to the last pay-date”, enter the taxable pay to date as notified on your previous period’s pay-slip
5.  Enter your taxable pay as the sum of Temporary Wage Subsidy and any top up received from your employer for the this period

6.  Non-taxable deductions are PRSA’s and approved pension schemes etc. Read Full Post

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Calculate Take Home Pay

Because of my extensive background in payroll I am often asked by people to check their pay slips for accuracy. They are happy when I can verify independently that everything is in order. The other question I get asked is “if I was earning €200 a week more how much would it be worth to me in my hand”.

Interactive Gross Pay to Net Pay Application

In 2019 I checked the internet for an interactive converter that would calculate net pay for a person in a given pay period for a given taxable pay. There was nothing on the Web that does this properly so Boyle Practical Project Management developed an interactive gross pay to net  application and tested it against hundreds of scenarios for different pay cycles. This gross to net pay calculator calculates tax (PAYE), pay related social insurance (PRSI), and universal social charge (USC) for any given period. Read Full Post

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COVID-19 Temporary Wage Subsidy Payment

Revenue is as explicit as it can be as per the above for the operation of the payment and Revenue has been working extremely hard to keep employers and employees informed and updated. The scheme was put into place within a short period of time and has been updated continuously to address any legitimate shortcomings of the scheme. The many experienced payroll processing people who have been implementing the scheme on the ground have queried some of the practical problems that exist in some cases and have been liaising closely with Revenue in highlighting and resolving issues.

Updates to the Temporary Wage Subsidy Scheme

Statements from Revenue as extracted from their website:

Income tax and USC will not be applied to the subsidy payment through the payroll.

Employee PRSI will not apply to the subsidy or any top up payment by the employer.

The Subsidy will be liable to Income Tax and USC on review at the end of the year.

More detailed guidance on the operation of the Temporary Wage Subsidy Scheme is available on Revenue’s Frequently Asked Questions. The FAQ’s are updated regularly with extra additional information and clarifications. Changes to Wage Subsidy Scheme from 4 May 2020 are also outlined on the Citizens Information website.

On 15 April 2020, changes to the Wage Subsidy Scheme were announced. These changes will take effect from 4 May:
•The subsidy will increase from 70% to 85% for employees with a previous average take-home pay below €412 per week
•The subsidy will be €350 per week for employees with a previous average take-home pay between €412 and €500 per week
•The subsidy remains the same for employees with a previous average take-home pay of between €500 and €586 per week

•A tiered system has been introduced for employees with a previous average take-home pay of over €586 per week
•Employees who were taking home more than €960 per week will be able to avail of the scheme (this change applies from 16April)
•The new rates apply from 4th May and will not be backdated

The continuous improvement to the TWSS is another example of how those experienced in the field of all things payroll in the private and public sectors have come together in making a critical contribution to maintaining stability within the economy and supporting those impacted financially by the Corona Virus Covid-19.
Misinformation can arise when those that are non-qualified in payroll related matters start interpreting information or and sharing incorrect information. For the most part generalisations cannot be made about the operation of the Temporary COVID-19 Wage Subsidy Scheme. The application of Payroll processes leads to differing results for different people based on their personal circumstances. Because there is no one size that fits all. The guidance on TWSS issued by revenue is the go to location for up to date information. The spread of misinformation distracts and frustrates those that are working over and above their normal work commitment to deliver as fair and as equitable a scheme as is possible within the short timeframes available and in the knowledge that there will be circumstances where anomalies will continue to exist within the scheme.

FAQs on Temporary COVID-19 Wage Subsidy Payment

Here is a sample of frequently asked questions by employees around the Temporary COVID-19 Wage Subsidy Scheme and it’s processing through Payroll:

How long does the Temporary COVID-19 Wage Subsidy Scheme last?

The scheme is expected to last 12 weeks from 26 March 2020.

Is the Temporary COVID-19 payment subject to tax, USC or PRSI?

Income tax, USC and PRSI are not deducted from the Temporary Wage Subsidy through payroll at time of payment?  Employees are processed on PRSI class J9, which attracts an employer PRSI charge of 0.5%., and nil contribution from the employee. The Subsidy will be liable to tax and USC on review at the end of the year at which time, Revenue will decide on how this tax liability will be collected from the employee.

Is the top-up payment subject to tax, USC or PRSI?

Any top-up payment is subject to income tax, USC and no PRSI is due to be paid by employees (class J9). Read Full Post

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