The cryptocurrency landscape is undergoing significant changes, with recent developments in both the UK and the US reflecting a shift in how digital currencies, particularly Bitcoin, are perceived by governments and financial institutions alike. These shifts signal a broader acceptance and integration of crypto into traditional financial systems, something that business owners should start taking seriously if they want to stay ahead of the curve.

To stay competitive in business, keeping costs in check is crucial. Smart cost management helps businesses not only boost profits but also stay  ahead of competitors and grow in sustainably.

Credit control is essential for every business, even though it's often overlooked. It’s more than just keeping track of who owes you money; it’s a smart, proactive approach to getting paid on time and maintaining a healthy cash flow.

An unpredictable economic climate seems to be the norm these days, with businesses faced with a unique set of challenges that can strain financial stability. Changes in inflation, fluctuating interest rates, and global uncertainties, mean that maintaining a healthy cash flow is more important than ever. Cash flow - the movement of money in and out of a business - acts as the lifeblood of any organisation.

A cash flow forecast is a vital financial tool that can provide valuable insights into the health of your business. It offers a detailed prediction of your incoming and outgoing cash, allowing you to make informed decisions about your operations and future growth.  

The Corporate Sustainability Reporting Directive (CSRD) represents a pivotal moment in corporate accountability, demanding unprecedented transparency from businesses across the European Union. This regulation, a significant expansion of the Non-Financial Reporting Directive (NFRD), mandates a broader range of companies to disclose their environmental, social, and governance (ESG) impacts in detail.

The impending introduction of pension auto-enrolment in 2025 is set to significantly impact Irish employers, particularly small and medium-sized enterprises (SMEs). This government initiative aims to increase the number of people saving for retirement by automatically enrolling eligible employees into pension schemes. While the goal is commendable, the practical implications for businesses, especially SMEs, could be far-reaching.

In business finance, understanding key financial ratios is crucial for evaluating the health and performance of a company. These ratios provide insights into various aspects of a business, from profitability to liquidity, and can guide strategic decision-making. Here, we explore some of the most important financial ratios every business should monitor.

The gender pay gap is the difference in the average hourly wage  of men and women across a workforce. It compares the pay of  all working men and women; not just those in similar jobs,  with similar working pattern or with similar competencies, qualifications or experience.

Retirement Relief is a valuable tax relief that can significantly reduce or potentially eliminate Capital Gains Tax (CGT) when you sell or dispose your business or farm assets.

With Artificial intelligence (AI) evolving at an exponential rate businesses are continuously exploring ways to integrate AI to enhance operational efficiency and drive innovation. Drawing insights from industry giants and cutting-edge technologies, let’s take a look into transformative AI applications and strategies that may reshape the future of business.

Keeping up to date with the latest regulations, we dive into the recent changes announced by the Revenue Commissioners regarding Enhanced Reporting Requirements (ERR) and the new adjustments to the Construction Workers Sick Pay Scheme (CWPS). These updates, effective from July 2024, bring significant implications for employers and employees alike. Stay informed and ensure your business is ready to adapt to these new requirements.

The IPASS Conference 2024 discussed some significant updates to Ireland's employment landscape, particularly with the introduction of the Auto Enrolment Retirement Savings System set to go live in Q1 2025.

Xerocon London 2024 buzzed with excitement as Xero unveiled a suite of innovative features designed to revolutionize accounting for small businesses and their advisors. These updates, focused on tax, payments, and payroll, promise to streamline workflows, boost efficiency, and enhance compliance management within the Xero platform.

As the amount of KPI and management information NKC generates for our clients increases, I often find myself in numerous team calls discussing decision-making with business owners and management teams. During these discussions, I recall an insightful interview clip from Jeff Bezos that frames the decision-making process effectively.

There have been some recent updates to Capital Acquisitions Tax (“CAT”) reporting obligations in respect of certain loans between close relatives. The new rules, which came into effect from 1 January 2024, apply to both new and existing loans and apply irrespective of whether any tax is due or not. This new tax filing requirement does not create any new tax liabilities.

Widespread and rapid technological development has seen explosive growth in the deployment of Artificial Intelligence (AI) in markets across the globe. AI is becoming an instrumental part of human society, revolutionizing many aspects of life. With the many benefits AI provides, there is also a risk that the technology could produce unintended harms or be used in negative, or even unlawful ways.

Last Friday our payroll team attended the 2024 IPASS conefrence and it was a treasure trove of information for anyone involved in payroll, HR, or business management in Ireland and the UK. Below you will find the key takeaways from the conference to keep you up-to-date on the latest changes and trends.

Artificial intelligence (AI) dominated the recent AccountEx 2024 conference in London. From seminars to bustling exhibitor booths, AI was the talk of the event, attended by thousands of accounting and finance professionals. With so much on offer we’ve put together a list of some of our key takeaways from the event.

ExCeL London is officially buzzing! Yesterday marked the first day of Accountex 2024, and the energy is contagious. Neville, Alan and Vaidas are there navigating the largest accounting and finance expo in the world. There are 12 theatres of CPD-accredited seminars to choose from, plus exhibitor demos and stand theatres.