Irish Accountancy Awards 2018

We are delighted to announce that we have been shortlisted in two categories at this years Accountancy Awards. Medium Practice of the Year of Best Use of Technology in Accountancy & Finance

“Launched in 2015, the Irish Accountancy Awards has established itself as the premier event in Ireland for benchmarking excellence in the accountancy profession in Ireland.” –

We are honoured to be nominated and feel that the nomination is recognition of the hard work of the whole team. It is also recognition of the continued innovation and progressive vision of the firm. We would like to take this opportunity to thank our clients for their continued support and custom as we celebrate our nomination.

We are honored too to be among a group of excellent and class leading firms in the medium practice category. One of the common threads amongst out fellow nominees is an acknowledgement of the need for firms to stay flexible and to remain relevant in the current business world.

We have received our nomination for Best Use of Technology in Accountancy & Finance for our utilisation of redflare.

WDA have developed this system in conjunction with the development team of Red Flare and it is unique in its application and we are the only accountancy practice in the country using it.

The strategic plan is to deploy this system into Accountancy Practices in UK and Ireland.
The practice has used the system to record and manage the following areas within the

  • Training & CPD – All staff record their CPD and training for real-time review
  • Task Management – Partners & Managers are able to record tasks for completion, allocate to staff, assign due dates and budgets.
  • Automated Email Notification – Red Flare enables routine and allocated tasks to be
    automated and emails with links sent on a set basis. It will also highlight overdue tasks.
  • Internal Audit – WDA act as outsourced Internal Audit for a number of clients. All our internal audits reports, findings and recommendations vest in Red Flare IA, which we have specifically designed. Clients can logon and see recommendations, reply to same and print reports.
  • Risk Management – WDA act as outsourced Risk Management Officers for a number
    of clients. All our risk reports, findings and recommendations vest in Red Flare. Clients can logon and see recommendations, reply to same and print reports.
  • All Partner Meetings, Staff Meetings and Marketing Committee Meetings are recorded within Red Flare Governance Manager. Associated discussion papers are allocated against specific meetings. We can record attendance, agendas, minutes and tasks for every meeting.
  • Practice Compliance – All regulatory compliance in relation ISQC1, Investment Business Reviews, Annual Compliance Reviews, Monitoring visits vest within Red

Taming the GDPR Beast 3-April-2018

We are hosting a GDPR awareness and readiness seminar. We take a practical approach and aim to arm all attendees with the knowledge to start or improve their compliance journey.

Taming the Beast 2018

Please RSVP to confirm your attendance

Cryptocurrency & CGT

The Cryptocurrency Gold Rush

The year is 1849 and the hills of California are heaving with gold so you pack up your wagons drive across the country and start swinging an axe. To live the ‘California Dream’ of the 21st Century now all you need is access to the internet and some starting capital. As a result of the ease at which people can partake we now have millions of investors in the Cryptocurrency exchanges from professional traders the ‘Whales’ to speculative punters that don’t want to miss out on the next big Blockchain explosion. Bitcoin FOMO is real!


Like all sectors there’s an ocean of jargon and ‘techspeak’ to navigate and the range and variety of currencies and platforms can be overwhelming however with a small bit of leg work you’ll soon know the difference between BitCoin, Etherium, LiteCoin, Ripple & Cardano.

The key element for any investor or prospective investor to understand is the infrastructure underpinning the whole economy Blockchain. There are blogs, dummies guides to, YouTube vids and articles explaining in varying degrees of detail however the key points to understand are:

  1. What is it: Decentralized public ledger of data
  2. Each data ‘block’ has a timestamp, a link to a previous block and unique data
  3. Cryptography ensures that users can only edit the parts of the blockchain that they “own” by possessing the private keys necessary to write to the file
  4. Blockchain technology has been described as the internet of value. Blockchain is a method by which value can be transferred securely where both parties have access to the blockchain file and the encryption keys.


What does all this mean for the Taxman?


If you have investments in Cryptocurrencies then you are exposed to Capital Gains Tax (CGT). This is treated the same as any other investment. You must return a CG1 if you are a PAYE Employee or if you are self employed it is included on your Annual Form 11 return.

What do you pay?

  • 33% On Profits (Disposal proceeds – costs including costs of purchase, fees to brokers/solicitors)
  • If you are making a profit through the disposal (selling, gifting or *exchanging your asset) of your cryptocurrency, you will need to declare it to Revenue for Capital Gains Tax (CGT).
  • *Exchanging your asset includes transferring gains from one currency into another. i.e. Transferring a gain in Bitcoin into Ripple crystallizes the gain in Bitcoin and must be declared to Revenue.
  • The first €1,270 of your cumulative annual gains (after deducting expenses and losses from other cryptocurrency investments) are exempt from tax

 When do you pay?

  • There are two disposal period in the year Jan-Nov & Decemebr
    • If you make a disposal between 1 January and 30 November you must pay CGT by 15 December of the same year.
    • If you make a disposal between 1 – 31 December, you will have to pay your CGT by 31 January of the following year.

How do you pay?

Contact John or Darren to set up a meeting to discuss how to be compliant with you Cryptocurrency profits.

GDPR Taming the Beast 17-Oct-2017

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By now the majority of credit unions will have made it to the start line on their GDPR journey, listening, reading, readying. The lights are out however and the time to get moving is now. We have put together a half day conference to assist credit unions with practical steps to start their compliance journey.

Through a series of interactive presentations we will explore practical steps to prepare for the May 2018 deadline.
Agenda for the Day

  • 09:45 – Registration + Coffee
  • 10.00 – What Is GDPR & Are You Ready
    • Presented as a compliance overview of what is GDPR from the perspective of the Credit Union. Why Credit Unions need to be ready and steps that can be taken now in advance of the May deadline.
  • 10.30 – Practical Steps to becoming GDPR Compliant
    • As observed by an Internal Auditor. How to handle SARs, Potential areas of weakness and practical roadblocks to compliance.
  • 11.00 – Coffee Break
    • or tea given your preference
  • 11.15 – The role of IT in GDPR
    • Jason Dowling from redflare will illustrate how an integrated software solution can assist your organisation in the compliance journey
  • 11.45 – IT Security Review
    • Practical explanation of the IT Security expectations and how this has been affected by GDPR.
  • 12.15 – Questions and Wrap-up
    • Open forum for attendees to discuss all issues/ queries with the presenters
  • 12:30 – Close


  • Dublin – Tue 17th October – Venue Dublin Airport Radisson

17 OCT

Registration is now closed. 

SURE Relief

Start-up Refunds for Entrepreneurs (SURE Relief)

We all know the important role played by start-up ventures and entrepreneurs on Ireland. They are responsible for the growth and production of wealth in the economy but creating a successful business isn’t easy.

With that in mind, the Revenue have created a relief that helps budding entrepreneurs take the first step.

What is SURE Relief?

SURE is a tax relief that provides a refund of income tax that you paid in previous years in lieu of an investment in a limited company for shareholding. If you are an employee, an unemployed person or a person who has recently been made redundant or left employment and are starting your own business, you may be able to claim tax relief.

The scheme offers an income tax refund of up to 41% of the capital that is invested in a new business.

A refund can be claimed on income tax paid over the previous six years prior to the investment in the new business.

Before availing of the scheme, a number of general conditions must be satisfied, you must:

  • Establish a new company engaging in a qualifying trading activity.
  • Invest in the Company for the purchase of new shares (no preferential rights)
  • Have mainly PAYE income in the previous 4 years, including a person currently in PAYE type employment, an unemployed person, a person recently made redundant or a retired person.
  • Take up full time employment in the Company either as a director or an employee for a period of at least 12 months.


It might sound obvious to state but you need to pay PAYE before you could be entitled to a SURE Relief refund

As with all reliefs available from Revenue, there is a lot of criteria to meet before an approved claim are completed so it is important that you engage a professional which will provide you with timely and correct advice.

If you would like more information, please do not hesitate to contact our dedicated start up team Darren or John at Whelan Dowling & Associates on 01-6771411 for no obligation chat about your company.

Are you GDPR ready?

The General Data Protection Regulation (GDPR) sets out the principles for how the personal data of your staff, clients and suppliers is handled, as it pertains to the rights of the individual.

It is expected that all data processors and controllers will have established their obligations under the new legal framework sufficiently in advance of the May 2018 implementation date.

The road map to compliance should include the below stops:

• Policy and Procedure reviews• Identify Stakeholders• Supplier reviews• Software register reviews• Privacy Impact Assessments (PIAs)• Pre-GDPR Compliance Audit• Business P

WDA have developed a range of consultancy services to assist you on the journey to GDPR compliance.  To discuss how GDPR may affect your business get in touch and we will help to map your compliance and give you peace of mind.

Is It Time To Change Your Accountants?

One of the good things coming out of the recent economic ‘shake-up’ is that everyone has stopped to look at the real value they’re getting in all business services. This seems to be one of the reasons why WDA (Chartered Accountants) is growing. Businesses just like yours are making the switch to avail of the great value – in terms of fees, service and advice that they get with WDA.

Apart from helping you stay on top of your accounts, we help our clients with things like cash-flow, company registration, book-keeping, strategic plans, auditing, corporate financing, management accounting, tax planning and lots more.

With over 20 years experience helping companies like yours to grow, you have access to partners and staff at all levels to ensure you get the most up to date information to make the best decisions for your business.

Having the right accountant on your team is a critical part of your success and because there’re so much choice out there it can be tricky to find the one that fits exactly with your style and needs.

Talk is cheap though, so if you’d like to to find out more, and see if WDA can really help you, then please please call us for a no obligation consultation on 01-6771411with one of our Partners, Jason Dowling or Sean Whelan.

Switching is much easier than you might expect and our clients enjoy the following benefits:

See if you like the sound of this:

  • Fixed Fees agreed in advance (& better value than you might expect)
  • Expert advice on how to grow your business (across all industries)
  • Completely tailored service to your specific needs
  • Access to the best specialists to ensure you’re always clear on where you stand

If you like the look of the above, please call us for a no obligation consultation on 01-6771411 with one of our Partners, Jason Dowling or Sean Whelan.

Note: Our offices are in Dublin and Navan.