Since 1999, we've led the way in developing limited company, umbrella and international services for contractors in Ireland and overseas.


From small beginnings to big ventures, we see it as our job to grow your opportunities and reduce your risks.


Joining our umbrella company could not be easier.
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About Us

Mac Accountancy Services has been providing specialist trading solutions for contract professionals since 1999. We understand your needs and we respond to them. Whether you are a first time contractor or have been contracting for a while we will help you to achieve the most tax efficient trading solution.

We will listen to your plans and help you to identify your needs. We aim to forge from the outset the kind of bond which stands the test of time because it brings together security, insight and mutual respect.

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Services

We work hand-in-hand with agencies to manage payroll systems, employment issues and changes in tax legislation.

ACCOUNTING SOLUTIONS

Mac Accountancy Services provides a number of tax efficient trading solutions for contract professionals..Our clients are typically in the IT, Engineering and Finance sectors. We have tailored solutions to cater for short-term contracts, for those who wish to actively administer a limited and for those who want us to take care of everything for them.

BUSINESS START-UP SERVICE

Ireland is perfectly positioned to provide your company with access to global markets. Ireland has long been recognised as the gateway to Europe and the bridge between East and West...

At Mac Accountancy Services we understand the many challenges that businesses face when establishing a presence in a foreign country. We have the necessary skills to assist you during your initial set-up and in your on-going financial requirements.

We are dedicated to working with organisations that want to invest in Ireland. Ireland is one of the world's most open economies. As such it provides an excellent opportunity for establishing a platform for international business.

At Mac Accountancy Services we can advise on the best trading structure for your new venture. We can incorporate a new Irish limited company within a few days and assist you to set up an Irish Company bank account with a leading Irish bank. We look after all Revenue and Company Registration Office compliance matters. We help you to structure your business in the most tax efficient manner possible while ensuring it meets all Revenue requirements. We provide you with a diary of Revenue and Company Registration Office filing deadlines and ensure that these are comfortable met.

Pleasecontact us arrange a meeting to discuss your requirements or for additional information.

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EMPLOYEE MANAGEMENT

Over the next 2 or 3 years we expect to see a whole raft of new employment directives emanating from Europe. Ireland will need to introduce new legislation to comply with 3 EU directives on equality...

We will keep you up to date on all legislative changes and proposals, as well as new compliance issues.

We can advise on employee rights, health and safety issues and obligations of employers towards their employees.

PAYROLL SYSTEM

Mac provides payroll services to a number of SMEs. We provide a complete back-office service including issuing payslips, P45s and year-end payroll returns...

This helps companies to reduce costs by outsourcing a small but specialised part of their enterprise.

UMBRELLA SERVICES

Contracting through our umbrella company is the ideal option if you are on a short-term contract and returning to full time employment after the contract ends, or if you want to see what contracting is all about before setting up on your own limited company...

Or perhaps the idea of running a limited company seems a bit too much. Whatever your situation, our umbrella service could be the option for you.

There are many advantages to choosing an umbrella company through Mac Accountancy Services. Obviously, your administration is reduced to an absolute minimum. What a glorious feeling! It is also a cost effective method of operating whilst being flexible enough to allow you to take advantage of contracting opportunities. Last but not least, our umbrella service complies fully with the EC Working Time Directive. All things considered, the Mac Accountancy Services umbrella is something to sing about.

Our umbrella service is a managed company that several contractors can operate through simultaneously. In essence, you swap your contract with the agency for a contract with our umbrella company. We then take care of the administration, leaving you to get on with contracting.

And don’t forget: if you have any questions, we’re always just a phone call away, come rain or shine.

THE NUTS & BOLTS

Joining our umbrella company could not be easier. All you have to do is meet us, sign an employment contract, we also need your P45 from your previous employer.

When you begin your contract, you send copies of your timesheets to us (online via our portal, by e-mail, post or fax) and the originals to your agency. Most agencies will require you to work within certain "fixed billing" periods, normally weekly, 4 weekly or monthly. We then invoice the agency on your behalf. When payment is received from the agency we process your salary through our payroll, deducting our fees, social security contributions and PAYE.

Your salary is then paid by BACS and a salary calculation is sent along with your payslip. After the termination of your contract, a P45 will be issued to you and you will then cease to be an employee of the management company.

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LIMITED COMPANY SERVICES

In pursuing this popular option, the contractor becomes an employee and shareholder of the limited company and enters into a contract with a recruitment agency to provide services to a third party...

With Mac Accountancy Services setting up your limited company couldn’t be less hassle. You can get the ball rolling with a simple phone call. You can choose your own (bespoke) company name typically this takes two to three weeks. We’ll also help you set up your company bank account.

The nitty-gritty of forming your limited company takes just one meeting. We’ll have all the relevant paperwork ready for you to complete and sign. We’ll register your company with the appropriate authorities. We’ll explain the statutory ins and outs of the Company Director role, and the Company Secretary role. We’ll discuss the most appropriate year-end date for your company and the most tax-efficient shareholding structure to suit your circumstances.

Alternatively you can choose our managed services company option, where you become a shareholder and director of a company administered by Mac. There are no start-up and wind-up costs and we help you to offset legitimate business expenses against personal tax. The benefit to you is that you retain more of your hard-earned income. This is an opportunity for you to reduce administration and ensure that your tax position is maximised.

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Testimonials

Jonathan Headen

IT Consultant

I have been contracting for over 5 years and would recommend MACS as a thoroughly professional service

News

PAYE Modernisation for Contractors Working Through an Umbrella Company

PAYROLL PROCEDURES FOR 2019 TAX YEAR AND PAYE MODERNISATION

From the 1st January 2019 Revenue are changing the way they will accept payroll returns and tax payments...

Companies will need to review their business processes and practices, so they meet the new requirements. You must ensure that you:

  • Have registered all of your employees (Directors) with Revenue

  • Create and register an online account with Revenue. Revenue requires everyone to set up an online Revenue account. If you do not have an online Revenue account, you must register one before January 2019. Simply follow the link here: Register

  • Checked that you have the correct PPS number for all employees.

  • Operate the Revenue deduction instructions for each employee.

  • Have complete payroll data which is accurate and up to date.

  • Have all required information on employee pay on a timely basis and in the correct format to payroll

  • Ensure that you have procedures in place to meet your reporting obligations.

  • If you pay yourself monthly from your company, you must pay and file tax to Revenue on a monthly or quarterly basis.

Going Forward

We suggest that we provide everyone with a payslip based on their invoice and expenses. Revenue will provide us with a monthly statement based on our monthly payroll submissions, by the 5th day of the following month. The monthly statement will show a summary of the total liability, and a breakdown of your liability for Income Tax, USC, PRSI and LPT.

The monthly statement will be deemed as your return if no amendments or corrections are made to the underlying payroll submissions, before the return due date, which is the 14th of the following month.

Quarterly remitters will have a monthly statement issued by Revenue which becomes their monthly return. Your payment due date will remain the same.

With this in mind, we suggest that everyone submits a timesheet/invoice and expenses by the last working day of the month so that we can process payslips for you. If we do not provide payslips for you at present, then we should do so from January onwards.

Forms P45, P46, P35 and P60 abolished

These forms will all be abolished in 2019. Instead, all of the functions normally associated with these forms will be accommodated by the payroll program. In our case, we use Thesaurus. This program has been deemed compliant for reporting purposes by Revenue.

Payroll Procedures for 2019 Tax Year and PAYE Modernisation

PAYROLL PROCEDURES FOR CONTRACTORS USING AN UMBRELLA COMPANY IN 2019 TAX YEAR AND PAYE MODERNISATION.

From the 1st January 2019 Revenue are changing the way they will accept payroll returns and tax payments....

PAYE Modernisation aims to modernise the reporting of tax deductions to the Revenue Commissioners by a new real time reporting regime. From 01/01/2019 tax deductions, including PRSI and USC, must be communicated to Revenue in real time for each pay period.

If you are a contractor under an umbrella company, you must take action and follow the steps below:

1. If you are a contractor under an umbrella company, you must take action and follow the steps below:

2. Check and Review your tax credits

HOW TO SET UP YOUR REVENUE ACCOUNT:

Revenue requires everyone to set up an online Revenue account. If you do not have an online Revenue account, you must register one before January 2019.

Simply follow the link here: Register

Once you have set up your Revenue online account you can then review your tax credits.

If you have difficulties setting up your account, please contact us.

Please note that it is not possible for Mac Accountancy Services to set up online Revenue Accounts on behalf of our contractors.

We suggest that everyone submits a timesheet/invoice and expenses by the last working day of the month so that we can process payslips for you.

FORMS P45, P46, P35 AND P60 ABOLISHED

These forms will all be abolished in 2019. Instead, all of the functions normally associated with these forms will be accommodated by the payroll program. In our case, we use Thesaurus. This program has been deemed compliant for reporting purposes by Revenue.

FAQS:

How does PAYE Modernisation work?

When we make a salary payment to a contractor, Mac Accountancy Services must inform Revenue of your pre-tax income, tax, PRSI and USC due to be paid. We do this using Revenue On-Line Service (ROS). Revenue will then inform MAC of the amount of tax, PRSI and USC to be paid.

What happens if Revenue have incorrect tax credits or earnings to date if you start after the 1st January?

you have provided Revenue with correct information regarding your tax credits, then the PAYE modernisation system will work correctly. If your tax credits or pay to date are incorrect, you must inform Revenue of this immediately. It is important therefore to check your tax credits and tax bands frequently.

Payslip

It is not possible to amend your payslip in the current pay period once Revenue have issued the tax details. It is the responsibility of the Umbrella company to remit tax deductions that Revenue have instructed. However, discrepancies can be resolved in the next payslip.

Business expenses

You can still claim business expenses. Your business expenses must be submitted prior to your payroll being processed. It will not be possible to adjust your payslip for additional expenses once the payslip has been processed. These additional expenses will have to be accommodated in the next payroll period.

What happens if I leave the umbrella company?

When you inform MAC that you are leaving the umbrella company and your last payment has been processed we will inform Revenue that you have ceased with us. Revenue will update their system with this real time information. You will no longer receive a P45. So, it is imperative that you have your online Revenue MyAccount set up with Revenue and ensure your tax credits are correct.

Questions

If you require any additional information please contact us:

Phone: 01-6620120

Email: info@macs.ie

Frequently Asked Questions

An umbrella company is a structure that stands between you, the contractor, and your recruitment company or end-user. The umbrella company manages all accounting and payroll and reporting duties and ensures you are tax compliant while you are on your contract.
Yes, our management fees are tax deductible. That can mean a tax saving of 52% depending on your tax credits.
Yes, you can change the way you trade from Umbrella PAYE to Umbrella Director or vice versa during your contract term. There are no additional charges for this change.
Mac Accountancy will look after you. We administer all taxes and payments for you in both Umbrella PAYE and Umbrella Director solutions. With every payment you will receive a payslip and calculator outlining a breakdown of expenses, taxes and payments. This ensures your tax affairs and Social Welfare contributions are always up to date.
No, we make payments to your personal bank account. Your bank account doesn’t even have to be in Ireland.
You can be set up immediately, and we will help you to register your new employment with Revenue. This will ensure that we have correct tax credits for you when we are ready to make our first payment to you.
We can incorporate your own limited company for you in 3-5 working days. Mac will manage VAT and PAYE registration for you. You will need to set up a company current account and we can help to get you two years of free banking. We will discuss a complete range of back-office support for you as well.
You can upload your timesheet to our contractor portal. We will provide you with your own login details when you invite us to look after you. Mac will invoice immediately on receipt of your timesheet.
Mac will pay you the same day we receive funds from your agency or end-user. We will send your payslip and calculator the same day we pay you.
Yes, you can claim tax relief on expenses that are directly related to you earning your income. Mac will require receipts and a completed business expense claim form to verify your claims.
You can upload your business expense receipts and claim form to our contractor portal. We will then include them in your pay calculations.
When we have paid you for your last timesheet and invoice we will inform Revenue that your contract has finished. We will remind you to update your My Account portal. If you are set up as a director of an umbrella company we will resign you from the company and inform the Companies Registration Office.

Mac will file a Form 11 tax return for you for every year that you are with us as a director. This is included in our fees and there is no additional fee for that filing.

Contact Us

MAC Accountancy Services

108
LOWER BAGGOT STREET, DUBLIN 2, IRELAND

INFO@MACS.IE

+353 1 6620120

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