Business Consulting Services

Business Advisory

McDevitt Financial Consulting Limited provides a tailored accounting service through our business advisory service.

We provide you with a professional and tailored business advisory service offering that ranges from a fully outsourced finance function to more routine book-keeping and payroll services.

We provide advice on selection and development of financial accounting systems to measure and benchmark your businesses’ performance to industry standards.

Company Formation

We can guide you through every step of the company formation process, ensuring your new company gets the best possible start and is 100% compliant with Irish company law.

Included in this Service.

• Certificate of Incorporation
• Company Constitution
• Share Certificates
• Schedule of Company Officers
• Secure Digital Company Register

Tax Registration

Once a company has been incorporated it should immediately register for the appropriate taxes. By law, Irish companies are required to register for tax and file returns with the Revenue.

Included in this Service.

• Registration for Corporation/Income TAX
• Registration for VAT
• Registration for PAYE/PRSI
• Registration for RCT

Funding & Finance

Raising funds is often the limiting factor to scaling existing activity or launching a new project.  We help our clients to make their plans feasible by attracting necessary financing. 

We offer preparation of a business plan, investment pitch and mapping of investors for private sources and developing applications for public sources. Our clients receive support throughout the whole investment attraction and implementation of the funding process.

Tax Planning

We can ensure all appropriate business structures are in place to help mitigate your tax liabilities.

Our primary focus is to ensure your company is fully tax compliant and to negotiate the most cost-effective way to fulfil your company’s tax obligations

Areas of Tax Planning

• Retirement and Succession Planning
• Capital Gains Tax Planning
• Conversion from Sole Trader to Company
• Gift and Inheritance Tax Planning
• Remuneration Packages
• Sale or Purchase of Business
• Ownership Structures
• Company Profit Extraction
• Cross Border Tax Advice

Company Secretarial Services

All Limited Companies are required to have a Company Secretary. McDevitt Financial Consulting Limited will be named and act as your Company Secretary.  

It is good practice to appoint a professional to act as your Company Secretary, as there are legal obligations they must fulfil. We provide this service and can make sure your new company stays compliant with all the statutory requirements.

Included in this Service.

• Filing of the Annual Return and Accounts (not preparation) with the Companies Registration Office
• Looking after general Company Secretarial matters e.g. miscellaneous changes in directors, registered office, shareholders, increase in share capital
• Maintaining and updating of the Statutory Registers
• Updating the Register of Beneficiary Ownership
• Minutes of Meetings of the Company including the Annual General Meeting and notice of same
• Ongoing Company Secretarial advice

Accounting Services

Annual Accounts Preparation

Whether Limited Company or a Sole Trader, you will require annual accounts for relevant authorities.

 We will prepare your financial statements in accordance with general accounting practices. 

On completion we will report to you on your results and advise on opportunities to improve efficiencies of your business.

Business Plans, Budgeting and Forecasting

A successful business requires planning.

If you are approaching a bank or individual to finance a new venture or expand an existing one, it is vital to have a coherent business based on sound assumption and attainable goals. We can assist you in preparing all aspects of your business plan. From the initial budgets to forecasting and breakeven analysis, we can make suggestions during the process to help point out and overcome any pitfalls along the way.

We can monitor the budgets against the actual performance of the company during the initial periods of trading and also assist management in the setting up of financial control and reporting systems for the business.

Management Accounting Services

Management accounts are essential to knowing how your business is performing and to how you can improve your own business efficiency and profitability.

We use our own business experience and knowledge to gain an insight into your business, so we can tailor make the accounts to your unique business, and its own individual requirements.

We always meet with our clients to go through the figures in detail, explaining in plain English what the information means. The key to effective management accounts is timeliness and accuracy.

We can provide monthly, bi-monthly, quarterly or half yearly accounts

• Reconciliation of all Balance Sheet accounts
• Processing payroll entries
• Processing of VAT / P30 returns
• Provision of management accounts, and prior year reports for comparison
• Provision of year end accounts to audit standard
• Staff Training – where we do not do the actual book-keeping but prepare the management and year end accounts

Bookkeeping

Book-keeping is the key to running your business effectively by providing the base information from which management accounts are prepared.

We can free you up to concentrate on running your business and provide you with peace of mind that your books are in order, up to date and tax compliant.

Services Include

• We can provide on / off site book-keeping
• Processing of all sales and receipts
• Processing of all purchase invoices and supplier payments
• Aged Debtors / Creditors listings
• Petty cash processing and vouching
• Bank reconciliation
• Processing VAT return and submission of same on ROS

Payroll

Sole Traders or Limited Companies can hire employees. You need to be registered for PAYE with Revenue to operate payroll. Our payroll team are specialists so you can be assured that your business’ payroll will be tax compliant.

Included in this service

• Process your payroll depending on your payroll cycle, e.g. weekly, fortnightly, monthly
• Payroll summary sent to Revenue each week or month
• Process payments to Revenue
• Issue payslips to your employees.

Audit & Assurance

Revenue Audit Preparation & Support

Our service delves into your bookkeeping and accounting records to verify you are compliant. We make preparations for the Revenue Auditor to ensure they have all the information they require in the format that will demonstrate an organised, competent and compliant company.

Where we identify errors, omissions or mistakes, we offer best advice on how to proceed. Disclosure to Revenue, calculation of taxes, possible penalties or interest can be costly.

Statutory Audit Preparation

The annual statutory audit is a requirement for all limited companies that meet certain size criteria under the Irish Companies Acts or if they have filed their Annual Returns late.

McDevitt Financial Consulting limited works with our Audit Partner to ensure that your audit will be completed to the highest standards, on time and for a fixed, value for money fee.

Internal Audit

Apart from being selected for a Revenue audit, investigation or enquiry, the need for review of your tax affairs can also arise when changes in your business occur, for example, the introduction of a new payroll system, an acquisition or merger.