Roberts Nathan has announced the key appointment of Brendan Murphy as Tax Partner. This appointment reflects Roberts Nathan’s continued growth and their full service offering as a multi-discipline accounting firm., Roberts Nathan with offices in both Dublin and Cork have recently been recognised as a Top 20 accountancy firm in Ireland with a team of more than fifty professionals.
As a member of MGI Worldwide, a global accounting network of independent audit, tax and accounting firms in over 80 countries, Roberts Nathan is well placed to provide advice to both domestic companies expanding internationally and also foreign businesses looking to establish in Ireland.
Murphy brings an extensive level of tax experience and expertise having advised on tax matters across a range of industries and sectors. With over 13 years’ experience as a specialist tax advisor Murphy is a member of both Chartered Accountants Ireland (ACA) and The Irish Tax Institute (CTA). Murphy previously acted as a tax director in both Baker Tilly and Grant Thornton and is a regular contributor to the Irish Tax Institute events and publications.
Murphy specialises in tax advisory services to both corporates and individuals, ensuring efficient tax planning and compliance. His experience extends to tax advice for corporates within areas such as group restructuring, financing structures, IP planning, merger and acquisitions and international expansion. He also advises shareholders of businesses on exit, succession planning, expansion plans and investment and has a strong specialist background in advising both domestic and international corporates of all sizes.
Excited at the prospect of leading the Roberts Nathan tax offering, Murphy feels there are many opportunities for tax advisors currently to assist clients in an effective way. “There are many opportunities ahead for businesses from a tax perspective,” said Murphy. “Lots of positive news despite the recent difficult times; with obviously many challenges too, but this is why there is growth in tax advisory services in the marketplace.”
Brexit has impacted us all and will continue to do be a key trend for the foreseeable future as many UK companies look to Ireland to allow them to create a foothold in the EU. “We have seen many of UK companies approach us for assistance on both incorporation and VAT registrations” said Murphy. “These companies need to be clearly advised on substance requirements to ensure they are in a position to establish in Ireland. It is important to get expert advice to deliver on their objectives for the start.”
As the economy is taking a measured approach towards ‘reopening’ Roberts Nathan is continuing to assist its clients both applying for and maintaining COVID reliefs. Murphy is also keeping a watchful eye on how Ireland’s tax policy might be shaped in future to ensure Roberts Nathan can advise clients proactively. “We are frequently asked by clients as to how businesses are going to pay for all these supports,” said Murphy “it is a fair question considering we have spent over €13bn on Covid supports. However, given our relatively high-income tax rates and the continued strength of income tax receipts it is difficult to see this tax head coming in for much adjustment. The Government has only again recently reinforced the commitment to the 12.5% Corporation Tax rate in the light of recent coverage from the US on minimum global corporation tax rates. It is likely that capital taxes will be the area which may come into focus in Budget 2022 and this will likely lead to even more consideration by clients over the coming months for succession planning and exit planning from businesses.”
One thing the past year has shown our clients was the increased reliance on technology to firstly, continue to operate and now as we emerge from the pandemic as an enabler for growth and expansion. Communications technology was very important for many companies to allow staff to work remotely and to ensure communication channels remained open with their customers and clients. The emergence of cloud accounting technology over the last number years enabled many businesses to continue, business as usual. As the Government rolled out the many supports through 2020, having up to date financial information allowed them to apply and receive those supports at a critical time. “Clients are migrating to cloud accounting software to build efficiencies into their finance functions and build flexibility into their teams,” says Derek Dervan, Advisory Partner, Roberts Nathan. “We as a firm advise and support our clients in the roll-out and use of secure and intelligent accounting and finance software to yield valuable solutions. This helps clients make better decisions, drive faster responses and gain greater control with real-time management information.”