Following our Asia Pacific focus last week, we return
to the (less sunny) shores of Ireland this week, where the
Small Firms Association has called on the government to prise
the fingers of the banks open with regard to lending
to small businesses, and to ensure a focus on cost competitiveness
and the restoration of confidence, both in the small business
sector, and in the wider economy in general.
In its Autumn Economic Statement, the Association revealed
that – in common with small businesses in many other
countries – Irish enterprises are finding access to
credit and other forms of financing hard to obtain, sometimes
fatally so.
Acting Director, Avine McNally revealed that:
“Access to credit remains a serious challenge,
with one in five small businesses in Ireland not getting enough
credit, we have a very serious problem, with potentially 50,000
small business closures and 160,000 jobs lost as a result.”
Redundancy figures highlighted by the Association in
June suggested that across all sectors so far in 2010, an
average of 1,302 jobs a week have been lost, a state of affairs
that Ms McNally described at the time as “disappointing,
but not surprising”.
Speaking of the Small Firms Association’s ‘three
Cs’ – confidence, competitiveness and cashflow
– the PBTG team has, during our residence in the basement,
become intimately acquainted with Bob the maintenance man’s
personal ‘three Cs’ – coffee, cigarettes,
and curry.
Over the course of a week, we’ve lost one editorial
assistant to vindaloo…side effects, and another to caffeine-induced
psychosis. We will be seeking alternative accommodation…
So, if you’ll excuse me, I’m off (once I’ve
navigated my way through the fog…!) to appeal to the
Editor’s better nature. If I can find it.
According to figures recently released by the UK's Federation of Small Businesses, SMEs and micro-businesses were hard hit in the final quarter of last year by a combination of factors, including increased utility bills, high inflation, and reduced consumer spending power. RSS
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The implementation of new rules and support for SMEs and other businesses in Singapore to re-employ older workers, in the face of a rapidly ageing population took effect earlier this month. RSS
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Figures published by the Hong Kong Companies Registry earlier this month have revealed that the number of start-ups registering in 2011 showed an increase of 6.31% last year on 2010 figures, with a record 148,329 registering over the course of the year. RSS
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The Irish Small and Medium Enterprises Association (ISME) has this month slammed the Republic's government once again for delays in implementing the jobs initiative that was a key post-election pledge. RSS
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Concern has been expressed regarding a ramping up of HM Revenue and Customs' Business Record Checks programme set to take place in April, with many small businesses fearing that the fine which can be imposed if they fail to provide adequate records to support their tax returns may push them into insolvency. RSS
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I am facing a dilemma and would like to invite any reader to advise me.
I am a Brit who has lived outside UK since 1993- initially in Belgium (5 years) & subsequently in 4 African countries. After a year outside UK, the UK Inland Revenue confirmed my status as ‘non-resident’ for tax purposes and as I have had no income in UK, I have not completed a UK tax return for many years. I visit UK very rarely, normally for one or two weeks per year.
In May 2011, I was made redundent by my employers, who were downsizing. This coincided with a move to retire in the Netherlands, where I now have official residency (my wife is Dutch). I thought that, at 63 years of age, I would be unlikely to find suitable employment; in fact, I have not tried hard and had resigned myself to permanent (but slightly premature) retirement.
However, to my surprise, I have recently been approached (through a mutual acquaintance) by a company that wishes to use my skills on a project in the Isle of Man. The role, if & when confirmed, would see me working for about 10 days a month in Isle of Man, with about 5-7 additional days per month, working from home. Contract will be for about two years. The firm has asked me to confirm if I would prefer to be paid (and therefore be taxed) in Netherlands or Isle of Man, the idea being that I create a self-employment entity for this employment. I have no data on which to base a response. Given Isle of Man's traditional ‘low tax ‘environment, are there any benefits to declaring an income in IOM? Are there any Isle of Man residency implications? Netherlands takes a tax cut on total world wide income, and, as I have never had any contact with the Dutch authorities, I am reluctant to start such a relationship now. Do I have to declare income in both countries, with a breakdown prorata to the time spent in each jurisdiction? Should I declare income to UK Inland revenue?
If anyone has pertinent advice on these points, I’d be grateful to hear them.
Just wondering if anyone 'on the ground', as it were, might be reading and able to help me...I was considering relocating my hairdressing business from the UK to Ireland before the economy started to go properly belly-up...now, not so much.
Are things as bad as they seem over there, or is it being over-hyped by the media? And is the government still keen to support small business people? Cos if not, I'll look elsewhere...
Hi, I live in South Africa, and along with 2 business partners (one in South Africa and one in Ireland - all South African citizens though) are setting up a company that designs Smart phone applications. As they will be sold on the various platforms (none of which operate out of South Africa)we have to list our company as operating out of Ireland anyway. As such, we have decided to set up our company in the best tax country and are wanting info on whether Jersey or Malta is best? If anyone has some inside info we would really appreciate it!! Thanks!Mary
I am moving full time to France in Jan 2012 where I will be working as a freelance contract engineer to a number of Australian based companies. It is my choice to move to France not a work requirement. I will be renting my house out in Austrlalia and renting a house while I am in France. I hold both EU & Austrlain citizenshiip. I am married with 2 young children. Approx total family income $100k AUD. Do I pay tax in France or Australia or both ? Any help or guidance would be much appreciated.France move
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