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

Community Group - Designated Activty Company Structure

Options
  • 12-01-2016 8:57am
    #1
    fitzie79
    Registered Users Posts: 350 ✭✭


    I'm not certain that this is the correct place for this discussion so please move the post if it's not.

    I am involved in a local group that are trying to develop a playground in our locality. We have a site identified that will require creating a medium term lease (> 9 years) to transfer ownership of the land such that we can apply for funding.

    We are looking at what is the best structure for our group to provide protection for the people involved and also to ensure that we are correctly setup to enable applications for funding. It has been suggested that a Designated Activity Company is the most appropriate structure. Does anyone have experience with setting up such a structure. Is it a difficult and/or costly process? We've heard that there is a requirement to submit annual accounts and this can cost up to €1500. This seems excessive and we don't want to fundraise to pay accountant fees on an ongoing basis. An alternative would be to wind up the company once the playground is developed. Again, it appears that this could be a costly process with a figure of €10,000 mentioned.

    Does anyone have experience of the cost of the DAC structure and how it could be wound up once the requirement for the playground no longer exists.


Advertisement