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On the face of it the consultancy aspect and software selling would be treated differently as the former would be professional services where the other would not. Some other aspects of this exemption i.e. the way it is linked to Employers PRSI for instance, have made it quite a limited exemption...

Hi there No problem with charging rent to the company. Should be consistent with the level of use and appropriate percentage of the rental cost Numbercruncher

Hi there Notwithstanding the fact that the business hasn't commenced yet I don't think it is too early to be getting quotes for end of year tax returns. One can give a quote based on basic assumptions about the size of the business, complexity, number of transactions etc. If the assumptions are...

Xero Hi OP We use XERO here in our practice and with a lot of our clients. Great software highly recommend it. There is a problem in that it doesn't seem to get a feed from most of the Irish banks but I think that's a banking issue that would be the same for other accounting systems. CSV files...

Perhaps the nub of the matter is whether the work done on behalf of B Ltd. is specifically related to X's role as a company director or is in the normal activity of A Ltd. If it is the latter then A Ltd could invoice B Ltd, bearing in mind the requirement to disclose in your accounts. The...

If in the construction sector (painting/tiling) You need to follow the 2/3 rule and in this case labour is greater than 2/3 therefore you should bill the whole job at 13.5%. For your accounts you would show the net income and the net expense. Does this answer your question?

Another way of looking at it is that there is nothing stopping company A invoicing company B for services provided in the normal course of business. Any related party transaction has to be disclosed in the accounts

XERO Accounts I would also recommend XERO. It is online and data entry is more simplified. We use it at our firm and are not linked in any way. numbercruncher

I had a conversation with someone in Scope section and they stated that it was an option for a director of a new company to go on an A class stamp if they wanted. Of course this would mean they would have to pay Employers PRSI NumberCruncher

Director status is worth nothing to you unless you are getting paid. It does bring duties and rights though which you need to be aware of. Profit sharing or a fee based on what you are bringing to the table should be the way to go. Taking a minority stake in a company can in practice often be...

First question about tax is totally misunderstood. The corporation tax exemption is restricted to certain business sectors / types and by the amount of Employers PRSI. Partners are taxed the same as sole traders. Company directors have the option of setting salary levels and/or paying...

These are balance sheet categories. You would need a P&L to give you the turnover number and you should do some online study to research what the various headings mean. As per original responder, please seek professional advice if required.

Maintaining a company could cost at least €500 more per annum than a sole trader. Often you can make up this difference with the tax advantages inherent but you shouldn't incorporate unless you can see the benefits NumberCruncher

My understanding is that this cannot be done? Have you been able to recover VAT on pre-registration capital expenditure?

Different rates apply depending on how long you stay. Chapter and verse is here: http://www.revenue.ie/en/tax/it/leaflets/it54.html ..and some cut and pasted from the relevant bits Schedule based on current Civil Service Subsistence Rates for absences outside the State Details of quantum of...

See the attached which is a good summary on the place of supply rules: http://www.revenue.ie/en/tax/vat/leaflets/place-of-supply-of-services.html Generally: B2B supplies from Ireland to EU VAT registered - No VAT (The recipient customer accounts for VAT) - This seems to be the OP's situation...

As a creditor of the company she is entitled to attend the creditors meeting where the directors must present a statement of affairs i.e. a balance sheet but not a full set of accounts. This will likely only confirm what she already knows i.e. no money to pay her.

My research led me to both Collsoft and Payback but I ended up choosing payback for 2 good reasons: You can have multiple companies Your licence lasts for 12 months when you buy it not just the tax year. All they need to do now is offer an SAAS/online version. Regards NumberCruncher

On this point, Revenue refused to give the PAYE tax credit to a spouse of a client where he was a proprietary director even though she had no shareholding. Have you experience of them allowing this credit in this situation? Perhaps inconsistency from Revenue Regards Numbercruncher

As DB74 says, you should review the M&A for the rules around this. In my experience the M&A often doesn't give a lot of detail on these matters, if not I suggest that you agree with your fellow board members what the governance rules should be for appointing and resigning/retiring directors...