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Non For Profit

  • 18-06-2002 9:02pm
    #1
    siva
    Closed Accounts Posts: 11 ✭


    I am currently setting up my own company. This is my first business venture. I really need advise on non for profit status. I would be very grateful if there is anyone out there that could give me some advise.

    Thankyou
    :confused:


Comments

  • #2
    Victor
    Registered Users, Registered Users 2 Posts: 78,580 ✭✭✭✭Victor


    I don't think "not for profit" status exists as a separate concept here. Yes, you can have "charity" status and "limited by guarantee", but otherwise just operate as either a sole trader (cheap, but you are responsible for losses) or a limited company (incurs audit costs, but gives you personal protection).

    Do you want to explain a bit more?


  • #3
    b20uvkft6m5xwg
    Closed Accounts Posts: 2,695 ✭✭✭b20uvkft6m5xwg


    Just set yourself up in the normal manner as a company.(As Victor siad as a sole tradr or Ltd. Co.) If you dont make profit then you have no tax liability. No sweat.- You'll only have to have an audit if your turnover is over around €60k.

    As for charitable trusts, you have a very slim chance of establishing such status, save proof of public benefit etc.- A burden which is quite high given decisons in such cases as determined by the Rev Comms.

    If you want any further advice, you'll have to disclose some more info. I'm a little intrigued as to your motives :)


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