Corporate Tax Planning

Corporation Tax

The benefit of trading through an Irish Limited Company has never been greater. The advantages of structuring your business in this way are:

• Limited Liability…this protects your personal assets should things go wrong!
• Low Irish tax rates…only 12.5% on all trading profits.
• Improved cash flow…due to the lower tax rates. Extra funds can be reinvested in the company and may earn a greater return than alternative investments.
• Choice over how and when you pay yourself…a self-employed businessperson’s profit is taxed on them personally irrespective of how much money they take out of the business.

UK & Irish Tax Planning Services

Our proprietor, Michael O’Mahony, has 25 years experience as a practitioner in both Ireland and the UK advising personal and business client’s in a variety of circumstances. He can therefore advise on UK and Irish tax when they apply in isolation and also when they may apply together, either when a client is moving between Ireland and the UK or has income from both countries.

We can therefore advise you on the best way forward financially for your business. Contact us if you need advice on whether to incorporate your business or how to meet the ever-increasing burden of compliance with VAT (Value Added Tax) or PAYE (Pay as You Earn) regulations.

Corporate Tax

Our objective is to reduce the total corporation & business tax liability for our clients which we aim to achieve as follows:

Maximising profits liable at the 12.5% corporation tax or lower personal marginal tax rate

Advising on potential risk areas and when other corporation tax rates may apply

Irish Revenue Commissioners’
Revenue On-line Service

We are registered with ROS (Revenue On-Line Service), the Irish Revenue Commissioners’ secure interactive internet-based facility, which is the most effective way to:

• Calculate your tax
• File your returns and make payments
• Obtain details of your Account with the Irish Revenue Commmissioners

Ensuring that full benefit is obtained for tax deductible items, including capital allowances and interest paid

• Business structure: We can review alternative business structures and recommend a route that will deliver your strategic objectives and minimise your tax liabilities.
• Incorporation: If you are considering operating as a company, we can advise you on the benefits and disadvantages of incorporation and relevant timing of this.
• Strategic Planning: There are tax implications for all growth or exit strategies. Discussing your longer term business plans with us, at the earliest opportunity, will ensure effective tax planning for your business. We will consider:-
  • Funding
  • Profit Extraction – including dividend policy
  • Pre-transaction assessment and planning on disposal of asset or companies
• Capital Allowances Consulting: Often potential claims to capital allowances can be overlooked. We will help you to ensure that you take full advantage of all available capital allowances.
• Self Assessment Tax Returns: We will complete your tax returns, ensure they are submitted on time and advise you of your tax liabilities and when these fall due.

Business Tax

Tax Ireland