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Director and Secretary Tax Risks

  • 24-10-2017 5:14am
    #1
    art64
    Registered Users, Registered Users 2 Posts: 1 ✭


    Hello all,

    What are the risks/responsibilities of being a company secretary while being an employee in a different company, tax wise? Also, does a company Secretary carry the same risks/responsibilities?

    I believe you must file a tax return every year, is this true?

    Will there be any irreversible risk to speak of in terms of PRSI, maternity leave entitlements if you are a woman, or anything of that nature.

    Any feedback is greatly appreciated.

    Best Regards,

    Stephen.


Comments

  • #2
    exaisle
    Registered Users, Registered Users 2 Posts: 2,675 ✭✭✭exaisle


    Only proprietory directors are required to make an annual tax return. There is no obligation on company secretaries unless they are also a proprietory director (one who holds 20% or more of the voting share capital).

    I won't comment on the risks/responsibilities other than that...you need to have a look at corporate governance legislation, but the Companies Office website is a decent source of information....

    http://www.cro.ie

    As regards PRSI, proprietory directors pay an S1 rate of PRSI. You can read more here, but suffice to say that they DO qualify you for maternity leave.

    http://www.citizensinformation.ie/en/social_welfare/irish_social_welfare_system/social_insurance_prsi/class_S_prsi.html

    However....if you are an "ordinary" employee in another company, you'll still pay the A1 rate of PRSI which will qualify you for all of the standard benefits should you be in a position to have to claim them.


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