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 South Quay is an innovation in the financial services accounting market. The aim is to deliver the consistent quality and unimpeachable reputation of the large firms, whilst ensuring the use of fully qualified staff at every level of the tasks that we undertake for our clients.
We do so by bringing together independent qualified resources to provide the full spectrum of the services needed by the financial services industry. We are rewriting the accounting services model, starting by asking "What does the industry actually want?" and looking at the best way to deliver that from scratch. We can do so because we are not limited by the legacy of old models of doing things, or a burden of training offices and overheads regulated by long established agreements. We can concentrate on the best way to do things, with the most suitable resources.
All work is subject to our quality control procedures, and, so far as possible automated to a gold standard.
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Last Updated on Monday, 26 July 2010 21:53 |
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Missed the 21st September deadline for Management Company tax returns? |
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The deadline for filing corporation tax returns and making final tax payments is 21st September 2010 for companies with a 31 December 2009 year end. (There is an extension until the 23rd September if you file using the Revenue On Line service, but you need to be set up on ROS already). This deadline applies to the tax returns of Irish registered management companies, those companies usually set up as part of a structure of Irish registered investment funds. The requirement relates to the management company itself, not to the funds so it applies irrespective of the type of funds it manages, hedge funds, mutual funds, UCITS, NON UCITS etc. The fact that the funds themselves are likely to be tax exempt in Ireland is not relevant. The requirement applies even though most of these companies can be described as “brass plate” or “agency” management companies. i.e. they have no direct employees and simply receive income from the related Irish regulated funds and pass it on to the ultimate Investment Manager.
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Last Updated on Wednesday, 22 September 2010 17:18 |
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Special Purpose Vehicles, OTC's and complex structured products – due diligence |
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In recent periods following the situations which arose through the credit crunch and the Madoff crisis there has been an increased call for due diligence on the part of asset managers when investing in structured products. South Quay provide a packaged solution for the due diligence process, using risk based audit techniques and providing a detailed report setting out the risks and requirements attending Special Purpose Vehicles, OTC's and complex structured products. To ensure a gold standard in providing this service we will use our qualified and experienced financial services accounting, legal and derivatives resources in a matrix provided by our proprietary audit management systems. |
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Last Updated on Wednesday, 21 July 2010 20:46 |
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Limited company vehicles for Asset Managers |
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South Quay operate a comprehensive bookkeeping, management accounting and financial statement preparation service for the limited company vehicles used to receive and disburse fund income for asset managers. The service includes Accounting, PAYE and VAT (if necessary) and can be done by our dedicated staff quickly, cheaply and easily. Regulatory returns, Corporation Tax returns and Company Secretarial as well as audit by our associated audit firms are also included in this offering. |
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Last Updated on Wednesday, 21 July 2010 20:44 |
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Low Corporation Tax Rate; 12.5% |
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As part of it’s plan for economic recovery, the Irish Government has again restated it’s intention to keep the Irish Corporation Tax rate at 12.5% for companies. The Irish Finance Minister, Brian Lenihan, has now confirmed this strategy on a number of occasions recently. The Irish Corporation Tax rate remains among the lowest in Europe and is of considerable interest to the Financial Services and Information Technology Industries. The fall in the value of the Euro and a reduction in costs combined with low income tax rates have all ensured that Ireland has returned to being a very good place to set up new business vehicles. |
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Last Updated on Wednesday, 21 July 2010 20:46 |
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