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Tax responsibilities for software consultancy with only two owners / employees

  • 16-01-2018 2:04pm
    #1
    haelyan
    Registered Users, Registered Users 2 Posts: 1 ✭


    Myself and a friend are thinking of setting up a software consultancy firm to make things easier for a foreign company which is looking to hire us.

    The idea is that the company would pay the company we set up - and we take our salaries from monthly payments from them.

    What tax would us / our company be liable for?

    If the companies expenses are our salary - then the company would being making 0 profit so we wouldn't have to pay for corporation tax?

    As directors / employees of the company - what taxes are we liable for?

    Furthermore - as we selling a service to a company (based in the USA), we would have to charge 23% VAT on the service we are offering them. Can we claim this VAT back (To reduce the cost to the client)?
    Tagged:


Comments

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


    The best advice you'll get is to go and see an accountant.


  • #3
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    Please go to an accountant.


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