W.O. McGrory & Company

Insolvency Service Launches ‘Back on Track’ Information Campaign for People in Debt following Research – ISI Eliminates Application Fees for Solutions – Research shows many people not seeking help and living below reasonable living standard because of commitment to paying off debts themselves ISI eliminates application fees for insolvency solutions to remove any perceived barriers to seeking help Lorcan O’Connor,…Read More

The Insolvency Service of Ireland (ISI) today welcomed the change which has been effected by the Minister for Justice and Equality, Ms. Frances Fitzgerald, T.D., to render bankruptcy petitions less expensive. Court fees of 210 euro which had been payable in respect of the filing of a bankruptcy petition and statement of affairs and accompanying affidavit in the Examiners Office…Read More

The issue of Bank lending to the SME sector is still a hot topic, with seemingly conflicting views and experiences among SME owners. The latest SME Lending Demand Study for the Department of Finance is due out today and confirms this confusing and inconsistent state which already-stretched SME owners are forced to work with. Are the Government and the Banks still…Read More

(1)  It is available to Companies only.  (2)  Activities that qualify – in addition to the generally assumed white coat brigade activities like pharmaceuticals – the following areas could qualify – software development / food production / engineering / health and agriculture / natural sciences.  (3)  So what is an R & D activity that qualifies – to quote Revenue :…Read More

Here Bernadette McGrory Farrell of W.O. McGrory & Company continues her look at key business management issues for achieving success in today’s uncertain business climate. Over the almost 40 year life of our 2nd generation Accountancy Practice we have identified these ten pitfalls as common to almost every small business.  1.    Cash Flow Problems         6. Overtrading  2.    Lack of Capital                  7.…Read More

Knowing how to manage your business through these uncertain times is arguably one of the key skills that all business owners need today, but few may have. Here Bernadette McGrory Farrell of W.O.McGrory & Co has outlined some of the main points you need to be aware of to know you are successfully managing your business. Firstly, know what stage your…Read More

Under the Rural Development Programme 2007-2013, Louth Leader Partnership have funding available which will expire in 18 months. Who can benefit from the Rural Development Programme 2007-2013? Individuals or groups of promoters with a viable enterprise idea. Rural Businesses wishing to expand or diversify, or start up a new business. Farm Families wishing to diversify into new activities. Community Groups promoting…Read More

Check out our new website at www.mcgrory.ie,  redesigned and more user-friendly. It’s full of helpful information and advice on what your accountant can do for you, and how you can make the best use of your accountant as your first point of reference for your business. More posts coming soon as we upload information on some of the events we’ve been…Read More

Cashflow is the life blood of any business. With limited credit available from the banks conserving and the freeing up of cash in a business has become a key objective for many entrepreneurs and small businesses, says Paul Farrell, Partner, W.O. McGrory & Co the Drogheda based accounting firm. Paul explains: “For any businesses, cash has always been a priority. The…Read More

There are a range of financial and other supports available for qualifying businesses. The primary aim of the government support agencies is to provide assistance to new and existing businesses in the areas of niche manufacturing or internationally traded services, in order to allow the project to achieve its full potential. Local factors such as employment generation and impact on…Read More

Starting up in business? Already in business and thinking of changing to a Limited Liability Company and don’t know if you should? Bernadette McGrory Farrell of W.O.McGrory & Co has set out below the pros and cons to help you decide. What is a sole trader? A sole trader is a business owned and controlled by one person, generally trading…Read More

Paul Farrell, Partner at W.O.McGrory & Co, CPA Registered Auditors & Accountants, Drogheda, confirms that there is considerable uncertainty among Directors of small companies as to what their roles and responsibilities are as Directors. This is such a critical concern, particularly in these troubled times for small enterprises, that he sets out below the duties and responsibilities for easy reference.…Read More

Tony Mallon of W.O.McGrory & Co, CPA Registered Accountants, Drogheda, outlines the top 7 legal remedies which are available to the courts in pursuing directors of insolvent companies. While personal responsibility of directors remains the exception when considering how and where directors’ duties are owed to creditors of a company it is useful in today’s economic climate to recall those…Read More

McGrory & Co set out the recent Revenue Extension of Relief from Corporation Tax for New Companies. Relief from corporation tax is available in their first 3 years of operation for new companies: that are incorporated on or after 14 October 2008, which commence a qualifying trade in 2009, and whose corporation tax liabilities do not exceed specified levels. The recent changes…Read More