Mandatory e-Filing of Tax Returns

As you may be aware, from 1 January 2010, the Revenue have extended the mandatory online filing requirements to include “large companies.” Initially “large companies” were to be identified as those not qualifying for audit exemption. However, the Revenue have now clarified that the mandatory online filing requirements are for companies with: Turnover greater than €7.3m and Number of employees greater than 50 Therefore, companies meeting these conditions must pay and file all tax returns online including VAT, PAYE/PRSI and Corporation Tax. PDF

4 Things Every Company Director Should Know

Through our experience of forming companies and helping clients to set up in business we have compiled a list of 4 things every director should know to ensure that the company and director are compliant with the Revenue and the Companies Registration Office. 1. Deadline Dates Deadline dates are strictly enforced by the Revenue and Companies Registration Office and penalties and fines are regularly imposed. Ensure that you keep a note of  your company’s Annual Return Date and Corporation Tax deadline and that you forward your books and records to your accountant as soon as possible […]

Sole Trader v Limited Company

So you have a new business idea and have sketched a brief business plan. What are your options in terms of structure and how do you decide which one is right for you? There are two main options open to entrepreneurs setting up in Ireland – sole trader and limited company. I will briefly outline the differences between the two and the issues you need to consider when making a decision on which structure to choose.   Sole Trader Sole trader is the simplest option. To set up as a sole trader, you will need to […]

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