About the Ulster Society

Chartered Accountants Ulster Society is the oldest district society of the Institute and serves around 4,600 members throughout Northern Ireland. The Chairman is Richard Gillan.

The Ulster Society provides professional, educational and social services and events for its members (in practice, in business, in the public sector and charity/ voluntary sector) and is a strong voice for Northern Ireland's business sector. The Society also actively fosters relationships with other accountancy, professional organisations and government bodies.

 

Registering for an EORI number is just the first step to prepare for Brexit... In order to continue to trade with the EU after Brexit, Chartered Accountants Ireland is urging Northern Ireland businesses to do two things; register for an EORI number and assess whether or not they have gaps in customs knowledge that could prevent them from trading with the EU post Brexit. While customs knowledge is critical, obtaining a customs registration or an EORI number is the first step that businesses must take to be able to continue to trade with the EU after Brexit.   Richard Gillan, Chairman of Chartered Accountants Ulster Society said: “Without an EORI number, Northern Ireland businesses will not be able to trade with the EU after Brexit. Getting an EORI number takes five minutes online with HMRC and while it should be the starting point in terms of their plans it should be by no means the only thing they should do.  Businesses need to look at customs software, get familiar with customs returns and think about who will do the customs administration for trade with the EU. “Regardless of whether customs duties apply, in order to move goods between the UK and the EU, traders will need to have customs expertise and third party software to file these declarations with the HMRC; otherwise they will need to hire an agent such as a broker or freight forwarder to do this on their behalf.   “No matter what form Brexit will take, traders need to file customs returns with HMRC before they can trade goods with the EU.  The returns need to be completed correctly; otherwise goods could be detained at ports and borders because HMRC officials will need to check that the proper declarations are in place.” After Brexit, UK businesses will need to apply the same processes to EU trade that apply when trading with the rest of the world and HMRC estimate that customs declarations are expected to increase fivefold to over 250 million declarations per year once the UK leaves the EU.  Richard Gillan said “Businesses need to be proactive in their preparations to be able to complete paperwork. While some traders are experienced in the customs formalities required to import and export to the rest of the world, it will be a first for many other businesses, particularly the smaller enterprises.  We are urging these businesses to use the time between now and 31 October to upskill in the area of customs. ” Regardless of the form Brexit will take, businesses must do the following to prepare and they must do that now: 1.         Register online with HMRC for an EORI number – it takes a few minutes to apply and a number should issue immediately or within 3 working days if checks are needed 2.         Become familiar with the new customs administration.  Decide whether you will do the customs administration yourself or whether you need to hire a customs agent.   ENDS Notes to editors To move goods into or out of the EU you need an Economic Operator and Registration Identification (EORI) number.  Therefore Irish and UK traders who trade with each other will need to apply for an EORI number. HMRC and Irish Revenue use this number to identify you and collect duty on your goods.  In the UK, you can apply online to get an EORI number on gov.uk. About Chartered Accountants Ireland Chartered Accountants Ireland is Ireland’s largest and longest established professional body of accountants founded in 1888.  The Institute, which is an all-island body, currently represents over 27,000 members around the world.  The Chartered Accountants Ireland Brexit Action Group coordinates extensive lobbying and public information activities to help its members North and South of the border prepare for the departure of the UK from the EU. Reference: Garry Webb, garry.webb@charteredaccountants.ie or Mob 07841 152045 www.charteredaccountants.ie

Jul 31, 2019

Chartered Accountants Ireland has cautioned VAT registered businesses with taxable turnover over £85,000 that soon their quarterly VAT returns must meet HMRC’s ‘Making Tax Digital’ requirements, unless they have an exemption or deferral. Local businesses are being advised to take action now to avoid penalties or surcharges if they get their VAT calculation wrong or file late for the quarter ended 30 June 2019, and future quarters. Alan Gourley, Chairman of Chartered Accountants Ireland’s NI Tax Committee said: “It might feel like holiday time but it’s now time for businesses to check whether and when they are required sign up for Making Tax Digital and if required, get ready to file their VAT returns using software that can talk to HMRC’s systems. “Businesses who haven’t already signed up may need to take action now as registration with HMRC can take up to seven working days. HMRC are also telling businesses that they should wait to receive email confirmation they’ve signed up before filing their first Making Tax Digital VAT return; this can take up to 72 hours to arrive. “The message to business is clear: check the Making Tax Digital deadlines for your business and be sure to sign up with HMRC in good time.” Richard Gillan, Chairman of Chartered Accountants Ulster Society commented: “What this all means is that businesses should not wait until the end of July to take action as decisions may need to be made about which Making Tax Digital approved software to use. “Businesses should also not rely on their Chartered Accountant being able to sign them up at the last minute if they wait until the end of the month. This runs the risk of issues with registration and new systems which can happen the first time a business is faced with a change of this type. “Talk to your accountant now before it’s too late about the steps you need to take to be Making Tax Digital compliant.”

Jul 01, 2019

Local Chartered Accountants did exceptionally well at this week's Northern Ireland Women's Awards. Zara Duffy, Head of Chartered Accountants Northern Ireland (pictured above) won the Award for Services to Accounting and Finance.  Jenna Mairs of Whiterock Capital Partners won in the Woman of Influence category. Claire McFall of BDO Northern Ireland, won in the Corporate Leader category. Caroline Rafferty of Homecare Independent Living was named Managing Director of the year. Sinead Fox-Hamilton, Key Account Manager for Chartered Accountants Ireland was Highly Commended in the Accounting & Finance category

Jun 27, 2019