From a very young age I dreamt of having my own business.
Growing up on a farm demonstrated how a business operates - the calf and lamb were born, nourished and then sold on. There were costs associated with the animal which had to be deducted from the selling price to decide if there was a profit or loss.
During my school days I was very interested in maths. Mother thought me long division, multiplication and fractions. I truly believe this gave me a head start for Maths. In national school the master often asked me to show my class mates the method to do the calculation. I really enjoyed that.
Accounting and Business Organisation were my favourite subjects in secondary school. I used to commence the next chapter before the instructions were received from the teachers so it did not come as a surprise to my class mates that my chosen path was accountancy.
Both of my brothers had businesses which I worked in, even though they were different industries (Garage and Electrical contractors). I gained plenty of experience working in the family businesses from dealing with the public, payroll, submitting tenders, bookkeeping, and liaising with Government Bodies in relation to procurement procedures
In 2006 I commenced the path to becoming an accountant. Initially I qualified as an accountant technician. As a result of encouragement from my parents, Pat Baxter (and many a friend) I continued the path towards becoming an accountant. I studied with IIPA as the exams suited me better as I could work during the week and attend college at night and weekends. I subsequently acquired CPA IIPA 3 years ago.
I qualified in 2012 -- the proudest day of my life!!
During my studies I was working with Pat Baxter who was a good support to me. Pat decided to retire in 2017 and I took the biggest challenge in my career and acquired Pat's client database. It has many ups and downs but I am glad to say the system has begun to work as I now work with the existing clients I had in my practice alongside those newly acquired.
With the support of Roscommon Leader Partnership, helping me to start my own business, I feel the lessons I have learnt during my career will support other business, particularly start-ups.
McGowan Accountancy deals with all accounting areas. Your success is our business!
COVID-19 Pandemic Unemployment Payment (PUP)
This is a a social welfare payment, for employees and self-employed people who have become unemployed due to COVID-19. You can apply if you are aged between 18 and 66. Students and Non-EEA nationals can also apply. You will require the following to apply for this payment, A MyGovID Account, PPS Number, and bank or credit union bank account details. This payment will be paid weekly until 31st March 2021. On the 1st April 2021 you will need to apply for jobseekers payment. You need to have been employed or self – employed in Ireland on or after 13th March 2000 to apply for sane. A self-employed person can earn €120.00 per week, and continue receiving PUP payment. Once you return to employment you need to cease your claim for COVID-19 Pandemic Unemployment Payment. You can contact the DSP income support helpline on 1890 800 024 (Monday to Friday from 9am to 5pm) This payment is liable to income tax and USC at the end of year. Tax Credits will reduce tax liability.
Employment Wage Subsidy Scheme (EWSS)
This is an enterprise support that focuses primarily on business eligibility. The scheme provides a subsidy to qualifying employers based on the number of eligible employees on the employer’s payroll and gross pay to employees. EWSS replaced the Temporary Wage Subsidy Scheme (TWSS) from 1st September 2020, and operational until 31st March 2021. Employers must have a valid Tax Clearance Certificate to be eligible for EWSS and maintain tax clearance for the duration of the scheme. Reduced rate of 0.5% of employer’s PRSI is charged on wages paid which are eligible for the subsidy payment. Some seasonal and new employees’ claims may be back dated to 1st July 2020, if certain conditions are met. All employers who availed of this scheme will be published by Revenue.
COVID-19 Restriction Support Scheme (CRSS)
This support is available to business that carry on a trade or trading activities from a business premises. Trading Activities of the business must be chargeable to tax. Tax Clearance is required during the duration of this scheme. The business is required to register for CRSS, by making a declaration that it meets the eligibility criteria for the scheme. The claim period is when the business is subject to Government restrictions, and prohibit the public from entering their business premises. The rate of payment is 10% of the average weekly turnover of the business in 2019 up to €20,000.00 5% on turnover over €20,000.00. A new business the turnover is based on average actual weekly turnover in 2020. Weekly maximum weekly payment is €5,000.00. Revenue will publish a list of business who availed of the COVID-19 Restriction Support Scheme.
Please contact McGowan Accountancy Services if you have any queries in relation to the above supports.
McGowan Accountancy is delighted to announce that we have received CPA certification from CPA Ireland. This is a great achievement and will act as a further assurance to our clients both old and new that they will continue to receive a quality and professional accountancy service.
McGowan Accountancy Services would like to thank all our clients in Roscommon, Longford, Leitrim and Westmeath for their custom all year and wish you all a Merry Christmas and Prosperous 2017.