Connacht Tribune
Tax auditor PwC trebles Galway workforce
One of the country’s ‘big four’ tax auditors has announced a major expansion of its Galway operations – labelling it as a vote of confidence in the continued growth of business and industry across the west.
PwC’s expansion will also see the country’s largest professional services firm relocate its Galway base from its existing Tuam Road facility into the city centre – and it has also resulted in a number of new senior appointments.
PwC Galway Tax Partner Mairead Connolly described the expansion as a response to increased demand – particularly from SMEs – and a chance to increase the company’s range of services.
“We have seen the economy bouncing back quite strongly – but particularly in Galway and its hinterland which, from our experience, is outstripping other regions,” she said.
The Limerick native works between PwC’s Galway and Limerick offices – indeed the Limerick native is married to a Claregalway man, so on many fronts she has a foot in both camps.
And she revealed that the decision to expand will see the workforce grow from 25 to 70 over the next few years, with a combination of experience tax practitioners and new third-level graduates in keeping with their current policy of recruiting the brightest and best through NUI Galway.
“Galway is synonymous with a strong med-tech sector, and that spawns a significant number of start-ups and entrepreneurial activities,” she says.
“We’ve done a lot of work with many of those entrepreneurs over the last few years; they had the successful products and ideas, but it’s often a question of getting their affairs in order so that, for example, they don’t lose so much in tax when they sell,” she adds.
PwC’s expansion also allows them to develop their own range of services, because up to now they were primarily concerned with audit and tax services, which will now grow to encompass corporate finance and business services.
One of the key new arrivals at PwC is Florita Dolly, who joins as a Tax Director within the Galway office.
The Abbeyknockmoy native previously worked with the Revenue Commissioners in Galway, where she spent over seven years as Assistant Principal.
And having moved from one side of the tax equation to the other, she has a list of aspirations that she hopes Finance Minister Paschal Donohue will tackle in his upcoming budget – not least to ensure continued growth here, irrespective of the Brexit outcome.
“Galway has a strong record for start-ups, particularly in the med-tech sector, and typically the ultimate aim is to grow the business for sale.
“Therefore the whole question of tax relief for entrepreneurs is one we’d like to see movement on – specifically in the area of Capital Gains Tax which is at ten per cent, but is capped at €1m.
“That is capped at €10 million in the UK, which gives a clear advantage to entrepreneurs across the border as it stands, never mind post-Brexit,” she says.
Brexit is a question occupying so much of the public space just now, with the impact on either the UK or Irish economy still unclear.
But Mairead Connolly admits that, whether hard or soft, the outcome ‘will not be pretty’.
That said, she also sees ways that the Minister can lessen the impact here by improving the taxation landscape for investors and for SME’s in particular.
“The Department of Finance recently reviewed the Enterprise Investment Incentive Scheme which offers a 40% tax right-off on investments for SMES, which is very favourable . . . if you can get it.
“But the conditions have been tightened to the extent that investors have to be independent of the business itself. In our experience, those most likely to invest know the business and indeed those running the business – which is why we would like to see this scheme broadened out to facilitate that,” she says.
Research and Development is also excluded from the EIIS – something that PwC would like to see altered in advance of the Brexit outcome.
But most of all, Mairead believes we need to see more investment in the regions – in infrastructure, technology and connectivity.
“Outside the Pale, that is a much greater challenge to business – as is the lack of skills and key talent in some sector.
“Strong employment levels often mean that SME’s and family businesses struggle to recruit and hold onto staff – and that’s an area the state could also incentivise,” she says.
Florita points specifically to KEEP (or Key Employment Engagement Programme) Scheme which Minister Donohue introduced in last year’s budget.
This allows owners to allocate shares to employees in a tax efficient manner to avoid losing key staff, by giving them a direct interest in the company – but again there are restrictions that PwC would like to see loosened.
“Bonuses like this for loyalty incentivise all involved to grow the company – and that’s the key to success,” she says.
Significant state investment is required to address ‘shocking’ inequalities that leave cancer patients in the West at greater risk of succumbing to the disease.
A meeting of Regional Health Forum West heard that survival rates for breast, lung and colorectal cancers than the national average, and with the most deprived quintile of the population, the West’s residents faced poorer outcomes from a cancer diagnosis.
For breast cancer patients, the five-year survival rate was 80% in the West versus 85% nationally; for lung cancer patients it was 16.7% in the west against a 19.5% national survival rate; and in the West’s colorectal cancer patients, there was a 62.6% survival rate where the national average was 63.1%.
These startling statistics were provided in answer to a question from Ballinasloe-based Cllr Evelyn Parsons (Ind) who said it was yet another reminder that cancer treatment infrastructure in the West was in dire need of improvement.
“The situation is pretty stark. In the Western Regional Health Forum area, we have the highest incidence of deprivation and the highest health inequalities because of that – we have the highest incidences of cancer nationally because of that,” said Cllr Parsons, who is also a general practitioner.
In details provided by CEO of Saolta Health Care Group, which operates Galway’s hospitals, it was stated that a number of factors were impacting on patient outcomes.
Get the full story in this week’s Connacht Tribune, on sale in shops now, or you can download the digital edition from www.connachttribune.ie. You can also download our Connacht Tribune App from Apple’s App Store or get the Android Version from Google Play.
Galway 3-18
Cork 1-10
NEW setting; new opposition; new challenge. It made no difference to the Galway minor hurlers as they chalked up a remarkable sixth consecutive double digits championship victory at Semple Stadium on Saturday.
The final scoreline in Thurles may have been a little harsh on Cork, but there was no doubting Galway’s overall superiority in setting up only a second-ever All-Ireland showdown against Clare at the same venue on Sunday week.
Having claimed an historic Leinster title the previous weekend, Galway took a while to get going against the Rebels and also endured their first period in a match in which they were heavily outscored, but still the boys in maroon roll on.
Beating a decent Cork outfit by 14 points sums up how formidable Galway are. No team has managed to lay a glove on them so far, and though Clare might ask them questions other challengers haven’t, they are going to have to find significant improvement on their semi-final win over 14-man Kilkenny to pull off a final upset.
Galway just aren’t winning their matches; they are overpowering the teams which have stood in their way. Their level of consistency is admirable for young players starting off on the inter-county journey, while the team’s temperament appears to be bombproof, no matter what is thrown at them.
Having romped through Leinster, Galway should have been a bit rattled by being only level (0-4 each) after 20 minutes and being a little fortunate not to have been behind; or when Cork stormed out of the blocks at the start of the second half by hitting 1-4 to just a solitary point in reply, but there was never any trace of panic in their ranks.
For more, read this week’s Connacht Tribune.
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GARDAÍ and the IFA have issued a joint appeal to all road users to take extra care as the silage season gets under way across the country.
Silage harvesting started in many parts of Galway last week – and over the coming month, the sight of tractors and trailers on rural roads will be getting far more frequent.
Inspector Conor Madden, who is in charge of Galway Roads Policing, told the Farming Tribune that a bit of extra care and common-sense from all road users would go a long way towards preventing serious collisions on roads this summer.
“One thing I would ask farmers and contractors to consider is to try and get more experienced drivers working for them.
“Tractors have got faster and bigger – and they are also towing heavy loads of silage – so care and experience are a great help in terms of accident prevention,” Inspector Madden told the Farming Tribune.
He said that tractor drivers should always be aware of traffic building up behind them and to pull in and let these vehicles pass, where it was safe to do so.
“By the same token, other road users should always exercise extra care; drive that bit slower; and ‘pull in’ that bit more, when meeting tractors and heavy machinery.
“We all want to see everyone enjoying a safe summer on our roads – that extra bit of care, and consideration for other roads users can make a huge difference,” said Conor Madden.
He also advised motorists and tractor drivers to be acutely aware of pedestrians and cyclists on the roads during the summer season when more people would be out walking and cycling on the roads.
The IFA has also joined in on the road safety appeal with Galway IFA Farm Family and Social Affairs Chair Teresa Roche asking all road users to exercise that extra bit of care and caution.
“We are renewing our annual appeal for motorists to be on the look out for tractors, trailers and other agricultural machinery exiting from fields and farmyards,” she said.
For more, read this week’s Connacht Tribune.
Connacht Tribune Digital Edition App
Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper.
Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.
Or purchase the Digital Edition for PC, Mac or Laptop from Pagesuite HERE.
Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.
Families queue up for school’s offer of free house
West has lower cancer survival rates than rest
Galway minors continue to lay waste to all opponents
Gardaí and IFA issue a joint appeal on summer road safety
Marathon Man plans to call a halt – but not before he hits 160 races
