First Accounts

Should you buy a car through your company or personally? 🚗💼
Most business owners assume running it through the business is an automatic tax win. But the reality usually comes down to three factors:
-> Original Market Value (OMV)
-> Type of vehicle (EV vs. petrol/diesel)
-> Business mileage vs. personal use

Because I mostly work from my desk and drive low business miles, the Benefit-in-Kind (BIK) hit meant buying it personally and claiming tax-free mileage was actually the far better move.

I built a free calculator to take the guesswork out of it and run the math for your exact situation in seconds.

Comment "CAR" below and I’ll DM you the link to the calculator! 📩

5 VAT mistakes that are quietly draining your bank account 🚨

1) Binning receipts
2) Reclaiming on disallowables (food, client entertainment, petrol)
3) Using the wrong VAT rate
4) Posting to closed or wrong periods
5) Reclaiming from a pro forma invoice

Watch the video for the breakdown of each!

Want us to review your VAT setup before Revenue does? DM us "VAT” or drop a comment below 📩

These are THE ONLY 3 numbers I check every single morning: 📊

1) Net Assets - the true value your business added over the last period.
2) Debtor Days - exactly how long clients take to actually pay you.
3) Cash Runway - what’s coming in vs. going out over the next 30-60 days.

Want real-time visibility over your own cash?

DM us and we’ll build this setup for your business! 📩

Giving staff "pocket money" could land you in serious tax trouble 🚨
A client was handing every employee a flat €200 monthly cash allowance for travel and subsistence, assuming it was tax-free.

The reality? Without receipts, Revenue treats flat round-sum allowances as taxable income. That meant years of unpaid PAYE, PRSI, and USC exposure.

The fix:
• Set up digital receipt capture linked to Xero
• Reimbursed only verified, actual business expenses tax-free
• Eliminated compliance risk

If you're paying flat allowances, get them checked before Revenue does.

DM us to review your setup! 📩

Silent churn is the quiet killer of growing businesses 📉

The clients you lose aren't always the loud ones complaining 1 they're the ones slowly fading away.

Watch for these 3 red flags:
1. Ghosting: replies slow down and emails go unread.
2. Dropping activity: orders shrink and usage dries up.
3. Delayed payments: 3-day payers suddenly become 30-day headaches.

We track your numbers in Xero so you catch the drop before it drains your bank account.

Losing clients without realizing why?

DM us and let’s plug the leaks in your revenue! 📩

churn

Believing these 5 VAT myths could be costing your business serious time and money.

Here's the reality behind the numbers:

1️⃣ "Every business needs VAT registration"
Reality: You only need to register if you exceed the turnover thresholds (in Ireland: €42,500 for services, €85,000 for goods), or if it makes commercial sense for your cash flow.

2️⃣ “VAT always means paying more tax”
Reality: VAT isn’t a tax on your profit. You generally collect VAT from customers and pay it to Revenue, while reclaiming VAT on eligible business costs. If you make taxable supplies and have significant eligible start-up costs, registering early may allow you to reclaim VAT before you begin trading.

3️⃣ "VAT registration is automatic"
Reality: Setting up a company does NOT automatically register you for VAT. It's a separate application with Revenue where you must prove active trading or intent to trade.

4️⃣ "Small businesses never need VAT"
Reality: Even small businesses choose voluntary registration if their clients are VAT-registered B2B companies - allowing them to reclaim VAT on business purchases including equipment, software, and startup expenses.

5️⃣ "You should register for VAT as soon as you start"
Reality: Registering prematurely when selling B2C means you immediately have to increase your prices by 23% or absorb the hit into your margin. Timing is everything.

Save this post for the next time you're reviewing your business tax setup.

Your accounting software should make running your business easier, not harder. ⚠️

If your setup is broken, you aren't getting clean data - and you definitely aren't saving time.

Here are 3 signs your Xero setup is holding you back:
1. Disconnected bank feeds
You’re manually importing statements instead of having automated, real-time transaction data.
2. Incorrect VAT codes
Your returns are messy, confusing, and putting you at risk for under- or overpaying taxes.
3. Generic chart of accounts
Your reports don't reflect your actual revenue streams, leaving you blind to your true profit margins.

The good news? All three can easily be fixed.

DM us the word "XERO" and we’ll send you our free setup checklist to get your account running properly! 📩

Are you accidentally overpaying the taxman every single month? 💸

We just pulled €10,000 back for a client after spotting a recurring VAT mistake in Xero that had slipped under the radar for years.

One quick filter by supplier and VAT code was all it took to find the cash.

Missing a VAT deadline can cost you far more than just a late fee. 🚨

Here’s the domino effect of letting your VAT slip:
> Interest & surcharges (interest can climb up to ~10% per year).
> Revenue audits triggered by late or missing filings.
> Loss of your Tax Clearance Certificate, which instantly blocks bank finance, grants, and public tenders.
> Severe cash flow strain that halts day-to-day operations.

Already missed a filing? If Revenue hasn't reached out to you yet, there is still time to fix it before penalties compound.

DM us right now and let’s get this sorted out before it gets worse! 📩