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Claiming company setup fee as an expense (IT Contractor)

  • 21-11-2013 10:20pm
    #1
    jos_kel
    Registered Users, Registered Users 2 Posts: 450 ✭✭


    Hi,
    I paid €320 to set up a limited company as I've started IT Contracting.
    The accountant said strictly speaking I can't claim this as it was paid before I started trading. He says it's a shareholder's expense.
    Is this splitting hairs? Surely it's an expense related to my limited company.

    Thanks in advance.

    Jos


Comments

  • #2
    Bepolite
    Closed Accounts Posts: 2,737 ✭✭✭Bepolite


    Oh the joys of company law.

    I'd be guided by the professionals you've hired rather than randomers on the internet. Of course we all know that all IT contractors do is split hairs, you only need turn it off and on again and anyone can set up a network - sure just google it. Of course I'm being flippant but I think it illustrates the point.


  • #3
    jos_kel
    Registered Users, Registered Users 2 Posts: 450 ✭✭jos_kel


    Bepolite wrote: »
    Oh the joys of company law.

    I'd be guided by the professionals you've hired rather than randomers on the internet. Of course we all know that all IT contractors do is split hairs, you only need turn it off and on again and anyone can set up a network - sure just google it. Of course I'm being flippant but I think it illustrates the point.

    Thanks for that. I think :confused:


  • #4
    srsly78
    Registered Users, Registered Users 2 Posts: 7,157 ✭✭✭srsly78


    I claimed the formation fee as an expense, as per my accountants advice.

    However I have not been audited so have no idea if that is correct or not!

    How much are you paying the accountant btw? Mine charges e1000/year, for EOY return and general advice. I do book-keeping, payroll and paye myself - but can run anything past accountant for quick check if I need.


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