1What is a LTD Company
  • A legal body (can trade, sue, be sued)
  • Owned by shareholders
  • Ran by directors
  • Must be incorporated to begin
  • Must be dissolved to 'close'
2What is a Sole Trader
  • Personal scale business
  • Yourself + Business/trading name
3LTD Company Advantages
  • Limited liability i.e., responsibility is shared across members
  • Tax Advantages
  • Credibility
  • Company name is protected and cannot legally be used by anyone else
4 LTD Company Disadvantages
  • Short version of accounts must be submitted annually (available to pub
  • May involve audit which incurs expense
5 Sole Trader Advantages
  • Straightforward
  • Lower accountancy fees
  • No annual Accounts to be filed
6Sole Trader Disadvantages
  • Liability/ responsibility on yourself alone
  • Tax liabilities may be higher
  • May lack credibility
  • Business name is not protected for your sole use
1Is Tax Registration Required?
    The most frequently required taxes to be registered for when setting up are
  • Value added tax (VAT) turnover of €37,000 for services, €75,000 for sales
  • Tax on Profits (Income tax sole trader, Corporation Tax LTD Company)
  • PAYE/ PRSI for your own salary and if you have employees
  • Other taxes may apply dependent on company activity
2Are there restrictions to Company Names?
    Yes.
  • Please submit your proposed company name to us and we can check it with the CRO and get back to you.
3 What do I need to set up my LTD company?
  • At least 1 director
  • 1 secretary (may also be director)
  • At least 1 shareholder (may also be a director)
  • A registered office (all official company correspondence will be sent here)
4Responsibilities of Company Directors/ Secretary?
5What is share capital?
  • Number of shares authorised to be issued to those investing in the company
  • Can be increased
  • Usual limit of €1,000,000 consisting of 1,000,000 ordinary shares of €1 each.
  • The amount of share capital issued initially is genrally 100 shares at €1 each (paid to company by cash usually, can be offset against Formation fees)
  • Generally more shares = more control
6How long does the process take?
  • Document preparation generally takes us 1-2 working days
  • We then meet you in our office appointments can be made Mon-Fri
  • Upon submitting signed documents to CRO Ltd company cert takes in general up to 5 working days
  • Business name registration cert usually takes up to 10 working days
  • We can then apply for tax of which most take 2-3 working days and VAT up to 3 weeks
 
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