Formation of company

Dunnangallabu

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

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.

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.