Company Name

GaryKelly

I have a couple of very different business ideas that I'd like to run with. I want to set up one limited company as a type of holding company with a non specific name eg Dublin Enterprises Limited. (made up name!)

Then have two or more companies that I can have under it like Dublin Car Cleaning Services and Dublin Computer Services that are Trading Names of the registered company. Is it possible to do this?

Have also heard that you need to get a fully audited sets of accounts for tax purposes unless your turnover is over 5 Million. True or False!?

Thanks!

dahamsta

A trading name is exactly what it implies, i.e. you'll be trading as company #1. They won't be a separate companies, and company #1 won't be a holding company. If you actually want a holding company structure, you'll need to register three companies, and do accounts for all of them.

Dunno where the 5m figure came from, essentially you need audited accounts for any company that's limited, except in a few particular circumstances. If you want to stop filing accounts, you need to take the company unlimited.

adam

information

GaryKelly wrote: »

Have also heard that you need to get a fully audited sets of accounts for tax purposes unless your turnover is over 5 Million. True or False!?

Thanks!

You only need to get your accounts audited for the cro if your turnover is over a certain figure a (few million).
Same with the revenue not sure on the figure but its much higher.

keefg

Also, be warned....you cannot register the holding company for VAT (therefore can't claim back any VAT on cost setting up the other two companies).

So just register all three companies together if possible (at CRO) and make sure any stock/vehicle/IT equipment/set up costs are done through the other companies that you can reg for VAT.

GaryKelly

So to get it straight in my head.

Register for CRO
1) Dublin Enterprises
2) Company Idea No1
3) Company Idea No2

Register for VAT & Limited Company (250 euros approx)
1) Dublin Enterprises

That make sense or is Register all three for Limited Status. The main thing I'm trying to do is keep the costs down.

Tks!

thecleverone

I have a couple of very different business ideas that I'd like to run with. I want to set up one limited company as a type of holding company with a non specific name eg Dublin Enterprises Limited.

Setting up a company in this way does not make it a holding company. Its just a company with a number of trading names. This route would be better than setting up 3 companies, i.e. one holding company and two other companies for your other business. The admin on 3+ companies would be a nightmare.
The way you have mentioned above, you still only have one company, but a few trading names which is better IMO.

Also, good luck with setting up a generic limited company name. I've been setting up companies for over 8 years and generic limited names are very hard to register unless they are 100% unique. Dublin Entrprises Limited unfortunately will not be accepted. Remember though, restrictions only apply to the limited company names. Trading names will go through regardless of whether they have been registered before or not.

Have also heard that you need to get a fully audited sets of accounts for tax purposes unless your turnover is over 5 Million. True or False!?

FALSE - The turnover and balance sheet threshold amounts applicable to companies in connection with the audit exemption have been increased to €7,300,000 and €3,650,000 respectively following enactment of section 9 of the 2006 Act. See here for more details

GaryKelly

Thanks for that.

So if you have < the 7.3m you can do the full return yourself and no need for an accountant.