Numbers add up for Ballylanders accountant


Numbers add up for Ballylanders accountant

Ballylanders in county Limerick is set to have its first accountancy practice in the village, with Michael McCarthy ready to set up business having established his practice at home.

Thursday, 28 March 2013
4:00 AM GMT

These days, many business people find themselves working from home primarily due to overheads, but accountant Michael McCarthy is doing the opposite, as he has been working from home since 2007 and just last month, he moved into a premises on the main street in Ballylanders, County Limerick.

Mr McCarthy explained that when he started out in 2007, things were starting to turn sour with the economy and rather than plunge himself into the deep end with high overheads, he worked from home to build up his client base and test the waters.

While working from home was ideal, as it meant that he was there to care for the two young children he has with his wife Denise, it also meant that he wasn't visible in the community and many people were not aware that he ran an accountancy and taxation service business.

"I realised that I needed to be out there more, as I was shocked by the amount of people who had no idea what business I was in. Additional space was another factor and the office also means that it's more convenient for clients to call in with documents or to check something. It also gives the business a professional appearance."

Operating the business from home, Mr McCarthy would have had very few overhead costs, and while this is an additional burden with the office, he said that it isn't something he went into lightly.


"I have been considering it for 12 months now and there are financial costs with rent, EBS, phone and a lot of other costs you wouldn't even think of, but you have to weigh them all up and I think for me, the time was right to make the move. I hope that the move will give the business a profile boost and more people will realise that there are accountancy services available locally."

Mr McCarthy explained that the bulk of his work would be for annual accounts and tax returns for self-employed people, SME's or PAYE returns.

He said more people are checking if they are due any tax back and he said that people are more aware that this could be another source of money for them, once off.

Mr McCarthy explained that most PAYE workers believe their tax deductions are correct, but this may not always be the case, as there are many instances where it is worth undertaking a review such as, the year of marriage, where somebody is made redundant or where their personal circumstances change. Claims for medical expenses are often overlooked as well.

"If you don't look at it, the Revenue Commissioners are not going to tell you there is a refund due.

"The personal touch with clients is also very important, because when they come in, they know that it's me they will be dealing with and by providing them with an efficient and professional service, you will build up your client base.


"I would also like to thank all those who made the effort to find me before and who have shown such confidence in me right from the start - without them, I wouldn't be moving to the main street."

Mr McCarthy said that he is hoping the move will increase his clientele and that maybe small or local businesses will consider using his services, as he is the only accountant in Ballylanders.

He added that by working from home first and building up his client base, this venture isn't as much of a gamble as it is for someone starting out.

"By moving, it means that I'm not waiting for someone to walk in the door. Working from home helped me to find my feet."

Mr McCarthy is also very active within the community, as his children attend the local school and he is active in the GAA, so he hopes that people will support the business.

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