A limited company is a separate legal entity to its owners. It is owned by its shareholders and is managed by its directors. A company is independent to its shareholders and directors and can continue in business even if its shareholders and directors change. […]
A business can reimburse its employees and directors for certain motor and travel expenses without the deduction of tax provided certain conditions are met…
Once you have formed your company with the Companies Registration Office, you will need to separately register your company for taxes. Form TR2 can be used to register for a number of taxes, including Corporation Tax, VAT and Employers PAYE…
When forming companies for clients, I am often asked how much hassle is involved in closing a company, if it is no longer required. Normally, a liquidator would need to be appointed, which can be expensive. However, if a company ceases to trade and has no assets or liabilities (or they are less than €150), then the company can request to be struck off the register, which is a much simpler process.
The Local Property Tax (LPT) is a tax payable on the market value of residential properties. A return is due if you held a property on 1 May 2013. Depending on the market value of your residential property, you will pay a different amount of LPT. The return can be filed on paper or online and there are a number of payment options. Exemptions and deferral options are available.
In general, most companies are required to attach audited accounts to their annual returns under the terms of the Companies Amendment Act, 1986. However, an exemption from audit is available for small companies. This can reduce the administrative burden as well as professional fees.
In this post, I will outline the circumstances where a business needs to register a business name, how to register the name and what you need to do when you receive your business name registration cert. If a business trades under a business name which is not the registered name of the company or the name of the owner (if a sole trader) then the business name should be registered with CRO. There are separate forms for sole traders, partnerships and companies and specific requirements on the display of the business name. […]
VIES is a system of exchange of certain VAT data between EU Member States to combat fraud and other irregularities. Certain supplies of goods and services to businesses in other EU Member States can be zero-rated for VAT purposes but this comes with an obligation to file a VIES return on a monthly or quarterly basis. […]
Before you finalise the design of your company stationery and forms, you should ensure that they comply with the Companies Acts 1963 to 2009 and the Tax Acts. […]
The relief allows an exemption from Corporation Tax for the first three years of trading provided certain conditions are met. The company must be carrying out a qualifying trade. The value of the relief is based on the Employers PRSI paid by the company up to a maximum of €5,000 per employee and an overall maximum of €40,000. […]