Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Formation of company

  • 05-03-2013 1:07am
    #1
    Registered Users, Registered Users 2 Posts: 4


    Background - insurance professional 15 years experience, fully qualified etc

    Currently work for a firm as a PAYE worker.
    Have been approached for advice / consult by another firm.
    There is no conflict of interest.

    I can see where I may be able to branch out to other firms with this service.

    Question: is it feasible to set up a consultancy company, then hire out my services to my current employer as well as other firms, therefore paying corporate rate of tax.
    Question: from the tax mans point of view would this be permissible as I'm obviously moving from higher PAYE rate to lower corporation tax rate.
    Question: what would happen if for arguments sake we say my clients shrink in the future to one, namely my current employer?

    Thanks


Comments

  • Registered Users, Registered Users 2 Posts: 1,678 ✭✭✭nompere


    You really need proper professional advice - particularly if you believe that there will be much, if any, of a tax saving. Ask yourself how you are going to get the earnings out of the company.


  • Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    You need structured tax advice.

    Seek a professional

    The only way to extract money from a company is wages on which you'd be paying employee and employers PRSI and dividends on which you'd be paying corp tax and then income tax.

    Thread closed.


This discussion has been closed.
Advertisement