Our Services: Audit, Accountancy, Taxation, Regulation, Insolvency etc

Brophy Gillespie is committed to understanding our clients’ businesses and the way in which they are operated.

We value our clients and are focused on providing our skills, knowledge and expertise to ensure that our audit, accountancy, taxation and related services meet all relevant statutory deadlines on a timely and cost efficient basis.

Brophy Gillespie’s routine audit, accountancy, taxation and related services include:

• Statutory audits of limited companies
• Solicitors’ reports for the Law Society of Ireland/li>
• Unaudited financial statements for limited companies
• Accountancy and taxation services for sole traders and partnerships
• Revenue Commissioners compliance for all tax heads
• Company Secretarial services
• Management accounts and bookkeeping services

We also provide services in non routine areas such as grant claims, business plan preparation, design and implementation of computerised accounting system, proposals to banks and other financial institutions and other corporate finance services.

Brophy Gillespie has unique and unrivalled expertise in providing audit, accounting, taxation and other services to the Independent Irish Film, Television and Video Production Industry.

The services provided to the Industry by Brophy Gillespie include:

• Section 481 cost report reviews and related compliance services
• Tax opinions for Section 481 projects
• Audit of Section 481 special purpose limited company vehicles
• Provision of technical support for independent production companies and production accountants in relation to Section 481 eligible spend items and related matters
• Provision of audit, accounting, taxation and related services to Irish based independent film, television, video and other media production companies
• Provision of taxation and other services for individuals engaged in the Industry
• Applications for artistic exemption status for qualifying individuals e.g. scriptwriters etc

The financial structure of Industry projects ranges from local finance only to international co-production agreements. Brophy Gillespie has experience of dealing with both local and international producers in that regard to ensure that all Irish regulatory submissions are in order, while at the same time being able to liaise with and provide relevant information to authorities and / or relevant professionals in other jurisdictions.

Brophy Gillespie provides a range of services to clients in the International Financial Services Centre (IFSC) and related sectors which are regulated by the Central Bank, and sometimes other regulatory authorities.

Our regulated clients range from local mortgage brokers, to futures traders and brokers, to commodity trading advisors operating systematic and proprietary trading systems and MiFID regulated clients.

In addition to statutory audit of the financial statements of those clients, Brophy Gillespie also provides services specific to the individual needs of regulated clients eg… regulatory compliance support services, client asset requirements reports, corporate governance support services, review of periodic accounting information submitted to the Central Financial Regulator and other regulatory authorities.

Brophy Gillespie provides fund taxation, accounting and administration support services to a number of Qualifying Investor Funds (“QIFs”), UCITS, Section 110 entities and related management companies.

The technical aspects of taxation for funds industry entities has become more and more topical in recent years and our firm has developed particular expertise in that regard.

We have assisted both local and non-resident directors in complying with payroll tax obligations as briefed by the Revenue Commissioners, (the Irish taxation authorities).

Brophy Gillespie also engages in the provision of directorship services to the funds industry.

Brophy Gillespie has also provided fund accounting and administration services since its inception to include the following:

• Preparation of periodic Net Asset Valuations for investment funds (weekly and monthly etc…)
• Transfer agency services
• Administration and other support services
• Confirmation and release of prices calculated
• Assistance with third parties in due diligence review of funds

Brophy Gillespie has also been engaged to compile and report on 13 column and similar investment track records for a number of clients.

Brophy Gillespie has been involved in the provision of corporate recovery and insolvency services to clients since its inception.

We have the experience to provide professional, and (where appropriate) sensitive, services in this area to include:

• Independent financial reviews
• Insolvent liquidations
• Solvent liquidations
• Receiverships
• High Court appointed liquidations

The principals of Brophy Gillespie have unique experience in forensic accounting cases ranging from small to publically quoted entities.

Brophy Gillespie has assisted a large number of clients with the incorporation of limited companies, and the start up phases of the resulting businesses since the inception of the practice.

Our start up services include arranging initial incorporation, tax registration, Companies Registration Office compliance and where appropriate assistance with initial Revenue Commissioners VAT, PAYE/PRSI and other returns.

Brophy Gillespie has a technical panel of external advisors with particular expertise in international corporate legal and taxation services. It is our policy to always liaise with that technical resource when dealing with any international clients who are setting up business in Ireland, to mitigate against unnecessary double taxation and similar issues.

It is noted that under current legislation, qualifying newly incorporated limited companies will not have to pay Irish corporation tax for the first three years of trading, subject to certain limits and payroll tax contributions.

Brophy Gillespie’s policy is to provide full information on the cost and administrative implications of incorporating and maintaining limited companies in Ireland both for local and international clients.

Brophy Gillespie also provides similar start up support services for un-incorporated entities, eg sole traders and partnerships.

The administrative cost of operating a business as a sole trader or partnership is typically significantly lower than trading through a limited company.

Consequently it is Brophy Gillespie's policy to always advise clients on the most suitable trading vehicle for their circumstances, bearing in mind commercial and other risks, and the limited liability protection given by limited companies, so that our annual costs will be fully understood and at the appropriate level for each individual client.