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Advise on starting a stock and Cryptocurrency LTD

  • 22-12-2020 2:10pm
    #1
    skywalsh75
    Registered Users, Registered Users 2 Posts: 4 ✭


    I was hoping to find some knowledgeable folk who can clear a few questions I have.
    I want to start a Stock and Cryptocurrency trading LTD with my partner.

    1. Am I correct that a stock and crypto LTD would fall under the 12.5% tax category (active trading) for Corporate Tax?

    2. 12.5% tax would be on all the gains that I would have in stock and crypto assets sold during the year?


    I will see an accountant but would like to be a bit more educated before stepping in the door. Thank you so much for any help and tips


Comments

  • #2
    ironclaw
    Registered Users, Registered Users 2 Posts: 8,004 ✭✭✭ironclaw


    Honestly, I'd talk to an accountant and Revenue themselves. Crypto is an evolving area and the average accountant is likely not in a great position to advise. We had a similar grey area question a few years back, regarding our VAT rate and the leisure industry, and Revenue was most helpful when we approached them about it.

    Either way, it costs nothing to ask Revenue but they'll cost an arm if you get it wrong.


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