Your business advisors – GMK Partners
Since 1984, GMK Partners has been looking after the needs of business clients.
Among its 30 staff are qualified professional accountants, tax specialists and support personnel.
“Our mission is to guide and enhance the value of our business clients whatever your scale – small, medium or significantly large – ensuring compliance with all taxation and statutory obligations, focusing on your success, growth, prosperity and balance in your business life,” outlines MD Gerard Kelly.
The team is located at The Orchard Centre in Drumalee on the outskirts of Cavan Town; while sister company, Farnham Financial Services Ltd, is based on Ashe Street in the centre of the county town.
Christmas bonus
For businesses, a particular issue at this time of the year is the use of the voucher system to reward employees for their hard work throughout the year.
Known as the ‘Small Benefits Exemption’ an employer may make a tax-free payment to an employee of up to €1,500 within the tax year (in a maximum of up to five actual vouchers).
Also, since Jan 1 2024, voucher payment (s) must be reported to Revenue (via normal payroll) at the time of or before payment, but this is not really any problem.
Auto enrolment
Again, as most employers and employees know now, January 1, 2026, will see the introduction of Auto Enrolment.
This is the pension system for employees not otherwise covered by an employer’s existing pension schemes, whereby the employee contributes 1.5% of gross wage, the employer the same amount and the government will add 0.5%; a total contribution of 3.5% of the employee’s wages.
There is no choice in this, it must be done unless you a have an existing company pension to which you contribute via payroll.
Employees have nothing to do as the deductions will happen automatically, although employers must register for the scheme and confirm the method of payment.
“For further advice on the implications and application of any of the above and any other taxation queries - finance, pension etc- we will of course be happy to oblige,” encourages Mr Kelly.
ACCA approved employer
GMK Partners continues to be an ACCA approved employer at th e highest level and are always keen to hear from ambitious people who are considering a career in a progressive, modern and pleasant environment.
The team at GMK Partners and Farnham Financial Services want to wish all their clients and friends a very happy and peaceful Christmas and a prosperous and successful 2026.