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Starting a company

  • 03-12-2009 8:49pm
    #1
    madonna123
    Registered Users, Registered Users 2 Posts: 264 ✭✭


    Anyone started up there own company???

    I have a law degree so I know the legal side of company formations, but its the practical side im looking for tips on.

    I have a business idea but I cannot proceed with it till I register a company.

    A registered company can only apply for this licence, not a sole trader.

    I know all the stuff about filing accounts, AGM's, EGM's, directors, shareholders etc..

    But its the actual first steps im interested in.. Im not going to be turning over millions.. probably just a few thousand a year. maybe 10-15k.


Comments

  • #2
    Snowdrop
    Closed Accounts Posts: 148 ✭✭Snowdrop


    Can you elaborate on what it is you need advice on? Company reg, finance, marketing, day to day accounts etc?

    Once you register the business with CRO, you need to register for tax.(Corporation tax and maybe employer and VAT) and open a bank account. Go to revenue.ie and you will see information about your obligations in more detail.


  • #3
    Snowdrop
    Closed Accounts Posts: 148 ✭✭Snowdrop


    If you intend to do your own book-keeping, there are a number of free accounts packages which may suit eg; Tasbooks Basic.


  • #4
    mickbyrne
    Closed Accounts Posts: 164 ✭✭mickbyrne


    madonna123 wrote: »
    Anyone started up there own company???

    but its the practical side im looking for tips on.

    But its the actual first steps im interested in.. Im not going to be turning over millions.. probably just a few thousand a year. maybe 10-15k.

    1. Go to a company formation agent or accountant who will help you complete the form A1, memo & arts etc to incorporate the company.
    2. Wait for the formation to take place, normally five workings days for an electronically filed company.
    3. Register for Corporation Tax with the tax office (Form TR2), as your turnover will be below the VAT treshold, there would be no requirement to register for VAT, but depending on what the actual business is, it may be beneficial.

    It's a bit ridiculous that a company is needed if you are going to generate such little turnover from the license.

    You can contact me with regards to any of the above if you like.

    Regards,
    Michael
    www.perspective.ie


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