Quick Checklist for Setting up your New Company

I’ve previously posted some guidelines on setting up your company and registering for taxes.

The following is a quick checklist of the steps involved in getting your new company on the road with links to previous posts where relevant:

  1. Decide whether a company is the best structure for your business.
  2. Decide on who the directors, shareholders and company secretary will be and form your company.
  3. When your company is formed, register for taxes using Form TR2, paying particular attention to VAT registration.
  4. Open a bank account. You will need the company’s Certificate of Incorporation and Memo & Articles of Association. Ensure you have agreed credit terms.
  5. Ensure you know what the company’s key deadlines are.
  6. Claim audit exemption if available to your company.
  7. When designing your company’s VAT invoices, company stationery and website, ensure you are compliant with legislation.
  8. Decide how you will keep your books and records. Will you employ a bookkeeper or do it yourself? What software will you use? Remember to keep it simple.
  9. Set up a system for recording mileage and subsistence.
  10. Register for electronic filing on Revenue Online Service www.revenue.ie and Companies Registration Office www.cro.ie. 

These are just the initial steps in getting your company registered. Over the next few weeks, I will cover further steps such as registering employees, keeping accounting records and filing returns. If you want to be notified when there is a new blogpost you can get upates by RSS by clicking here. To receive the latest posts by email, you can subscribe here.

If you have any queries, please leave a comment or email me on blog@parfreymurphy.ie.

Leave a Reply