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c2 needed????????

  • 03-01-2012 5:14pm
    #1
    tryingmybestt
    Closed Accounts Posts: 759 ✭✭✭


    Hi

    I'm starting a new ltd company in a couple of months ....do I need to get a c2 or is there a different system??


Comments

  • #2
    Daxve
    Registered Users, Registered Users 2 Posts: 164 ✭✭Daxve


    C2 cards no longer exist since the 1st of January. You will need to register for RCT when you set up the company. Revenue will assign you an RCT rate either 35% (not known to Revenue or serious compliance issues), 20% (some compliance issues, returns or tax outstanding) or 0% (everything up to date). The rates are reviewed automatically every 3 months or you can request a review if you don't agree with the rate your assigned. The ROS system will tell the Principal which rate to apply when they make the payment notification.

    There is no longer an option to have RCT deducted repaid during the tax year so it's in your interest to get on the 0% rate. Any RCT deducted will be set against tax owed when the CT return is submitted and if there's any left it will be repaid then.


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