Frequently Asked Questions

Find the answers to your questions:

Q: What do I need to start a company in Ireland?

 
A: To start a company in Ireland, you’ll need:

• At least one director (EU-resident or with a bond if non-EU)
• A company secretary
• A registered Irish office address
• Shareholder details
• A constitution document

Once documents are prepared and signed, we register your company with the Companies Registration Office (CRO). This typically takes 5–10 working days.

Q: Do I need to register for VAT, and how does it work?

 
A: You must register for VAT in Ireland if your turnover in any continuous 12-month period exceeds the thresholds below.

Voluntary registration is also possible if you deal with VAT-registered clients or EU trade. Once registered, you must charge VAT, file VAT returns (usually bi-monthly), and pay VAT collected to Revenue.

Q: What’s the difference between being a sole trader and a limited company?

 
A: A Sole Trader is easier and quicker to set up, with fewer reporting obligations, but you are personally liable for business debts.

A Limited Company offers limited liability, potential tax advantages, and more credibility but requires more compliance (e.g., CRO filings, corporation tax, bookkeeping).

We help clients decide based on their goals, risk, and income.

Q: What taxes does my business need to pay?

 
A: Your business may be liable for:

• Corporation Tax (12.5% on trading profits)
• VAT
• PAYE/PRSI/USC (if you employ staff)
• Relevant Contracts Tax (RCT) (for construction and related trades)

We ensure all tax registrations are completed and deadlines managed to keep you compliant.

Q: When are the main tax deadlines in Ireland?

 
A: Here are key deadlines:

• VAT returns: Bi-monthly (e.g., Jan–Feb due in March)
• PAYE returns: Monthly (via ROS)
• Corporation Tax: Filing due 9 months after year-end; payment due by month 8
• Income Tax (self-assessed): October 31st
• Annual Return to CRO: 6 months after incorporation, then annually

We notify our clients of all relevant deadlines and manage filing on their behalf.

Q: What business expenses can I claim?

 
A: You can claim expenses that are “wholly and exclusively” for business use, including:

• Rent and utilities (if using a home office)
• Travel and mileage
• Phone, internet, and software
• Professional fees (legal, accounting)
• Marketing and training

We review your expenses to ensure nothing is missed while staying Revenue-compliant.

Q: How much should I set aside for taxes?

 
A: Here’s a practical guideline depending on your business structure:

👤 Sole Trader

A good rule of thumb is to set aside:

• 20–25% of net profit if you earn up to ~€36,800, to cover:
• 20% Income Tax (standard rate)
• PRSI at 4.1% (minimum €650)
• USC (0.5%–2%)
• 35–45% of net profit if your income exceeds €36,800, to account for:
• 40% Income Tax on higher band income
• Higher USC rates (4.5% or 8%)
• PRSI remains at 4.1%

We forecast your income and expenses throughout the year to estimate this accurately and avoid surprises at filing time.

🏢 Limited Company

Set aside at least 12.5% of net trading profit for Corporation Tax.
Also consider:

• Director’s personal tax on salary or dividends (ranging from 20%–52% depending on total income)
• Preliminary tax due in month 11 of your accounting period

💼 Other Taxes (if applicable):

• VAT: VAT collected must be paid to Revenue (minus reclaimable VAT)
• Payroll Taxes: If you employ staff, plan for:
• PAYE/USC on wages
• Employer’s PRSI (usually 8.8%–11.05%)

We provide proactive tax planning and liability forecasting so you stay compliant and financially prepared all year round.

Q: What software do you recommend for bookkeeping?

 
A: We recommend Sage One Cloud, which we offer to clients with:

• Real-time access
• Bank reconciliation
• Sales/invoice tracking
• Direct expense uploading via a secure personal email

Contact us for a more in-depth analysis of the best software for your business.

Q: Will you deal with Revenue on my behalf?

 
A: Yes — as your agent, we:

• Register your taxes
• File your returns
• Handle all Revenue correspondence
• Represent you during audits or compliance checks

Our clients rely on us for full Revenue management so they can focus on their business.

Q: How much do your services cost?

 
A: Our fees are based on your business size, volume of transactions, and service level. We offer:

• Fixed monthly packages for peace of mind
• Annual pricing for specific services (e.g., company formation, Sage license)
• Transparent quotes with no hidden fees

Contact us for a custom quote based on your specific needs.