Business Valuations What is the value my business and how can I increase it? The owners of businesses which look at the value of the business on a regular basis are able to identify factors which are impacting on value and need to be addressed. They are also able to identify opportunities to enhance the …
Company cars, electric cars and benefit in kind ( BIK ) If you have a company car in Ireland you will pay some benefit in kind – BIK. Tax rules are that you pay PAYE ( Income Tax collected on a PAYE basis – Pay as You Earn ) on a cash equivalent calculated using …
Getting started If you are thinking of starting a business in Ireland, you think about some of these: what sort of business, who are the customers, the state of the economy, do you need a bank loan/leasing, your break-even point (how much sale before you get to zero profit, zero losses), the possible profit, the possibilities to grow the business, the impact of being the business owner on all areas of your life and the degree of risk involved. Business plan You should prepare a business plan that …
The tax system for Irish companies There is a totally separate tax system for Irish companies when compared to sole traders. The tax that is chargeable on company profits is called Corporation Tax, and is charged at 12.5% on the profits of the company. The same rules for Irish Income Tax for sole traders apply …
The Irish Payroll System and PAYE Modernisation PAYE Modernisation in Ireland was started as the new payroll system in January 2019. Employees in Ireland including directors will no longer receive forms like P60s or P45s. Irish payroll will now be completed online and there is a filing every payday, allowing employees to see pay and …
Registering for self employed taxes including VAT To register a limited company for tax you must have a Companies Registration Office (CRO) number issued by the CRO. You will also need an Irish bank account so that Revenue can process repayments and you can make payments of tax as and when you need to. The …
Are you considering a move to Ireland for work/business? You probably have lots of questions about life in Ireland, average salaries and cost of living. Firstly average salaries in Ireland are €45,000 per year. However salaries in the IT sector are higher at an average of €57,000 per year. At €57,000 per year you will …
Employed or self-employed? The question of whether a person who is tax resident is employed or self-employed is a complex one. The question can be answered once you know who has control over the following issues: what is to be done, how is it to be done, who is to do it, who supplies the …
Non trading companies in Ireland When you are contracting or freelancing you could run your own Irish limited company as it is the most effecient way to organise your affairs. All bills are in the name of the limited company, you pay PAYE on any salary you take out of the company, and profits you …
Limited company or not? Most small businesses in Ireland are organised as limited companies. An Irish limited company is straightforward to set up and it only takes 30 minutes to get it sorted out. 1. Choose a name. This can something meaningless like the combination of two real words, or it can be something as important …
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