Retail Update September 2016

Excise License September 2016 Renewals

All Beer, Wine & Spirit licenses are for renewal 30th September 2016 regardless of when bought. This year Revenue changed Tax Clearance to electronic, it should state on your renewal if you currently have tax clearance.

Remember to take a copy and display the licence where the alcohol is being sold.

If you have any questions or need to check in with us on the checklist prior to submitting please do not hesitate to contact us.

New Employees

Revenue have now removed the Form12A – from 12th September 2016 the Revenue Commissioners require that first time employees use the myAccount service in order to register for tax credits with them. Until they register with Revenue they will be deducted emergency tax on their payslips, up to and including the highest tax rate (currently 40%).

We will be pointing your new staff to our dedicated page which can be found here

Payzone

Payzone have recently emailed us at our clients”at”royalcanalfcs.ie email address with the following information:

Cessation of Vodafone €5 Top Ups

Payzone have informed that as and from 30th September 2016 that the top up amount for €5 will not be available and will no longer appear on the tills. If a customer has bought the €5 before the change, they will still be able to use the voucher for €5 previously printed.

Information on Credits & Trouble Shooting

Details can be found in the guide emailed in, which you can access here

(this email address can be used to forward or set up with your suppliers to email us your e-invoices so we can access and print them for your accounts)

Bre-exit

It is going to take a number of years to find out what will really happen after Britain voted to leave the EU on 23rd June 2016. As this is the first time Article 50 is being used it is going to take time and the outcome will be a mix and match to suit the EU & Britain.

What can you do in the meantime, is by planning and taking advantage of the strong Euro to Sterling value, we believe by buying from Northern Ireland and/or the UK, you should increase your margin and therefore your bottom line in your stores.

A summary of the exchange rates from the Central Bank are summarised below.

23rd September 2015 0.72970
23rd June 2016 0.76595
31st August 2016 0.84806
23rd September 2016 0.86435

This means that if you bought GBP£1,000 worth of goods today it would cost €1,157 but one year ago the same GBP£1,000 would cost €1,370. Saving in currency, this in other words means you have currently stronger buying power.

NERA Audits & Employment Law

We would like to remind all our retailers that it is your own responsibility to ensure you are fully compliant for NERA & Revenue, some questions to ask yourself…

Do I keep an Employee Register?
Do I keep rosters for 3 years?
Do I have record of staff taking breaks, if do not use clock card system, am I using NERA’s OWT form?
Do I keep copies of GNIB cards for staff that need one….. Also do I know what GNIB stamp they have and how this links to number of hours they can work?
Have I a handbook and policies in place?
Do I have record of staff training from sale of cigarettes/alcohol to training behind the deli?
Are staff taking breaks and holidays in accordance with legislation?

Although the above list is not exhaustive, if you have answered “no” or even answered “What are they on about!”, then you need to review your records and procedures straight away.

But do not worry, we here at Royal Canal Financial Control Services can assist and give advice to you on how to get and stay compliant.

We also have our Royal Canal Network firm CB Associates who fully specialise in this area that we very highly recommend.

Company Records – Storage Solution

We are currently closing up our old Raharney office, and we have been using this as a storage and sorting office to send boxes to our external storage partners.

If we have not been in touch or you wish to review the service again please visit our website page here