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Changing from Sole Trader to Ltd Company

  • 06-10-2020 12:37pm
    #1
    EIREHotspur
    Registered Users, Registered Users 2 Posts: 768 ✭✭✭


    This has prob been asked before.

    I am thinking of changing from Sole Trader to a Ltd Company in January.

    For the same reasons most do...ie:

    Qualify for Grants etc

    A few Questions

    I have read somewhere that I cannot keep my current Business name with CRO?

    Would the company be considered a Startup and Qualify for some of the grants out there?
    Tagged:


Comments

  • #2
    JohnnyKq
    Closed Accounts Posts: 154 ✭✭JohnnyKq


    EIREHotspur wrote: »
    This has prob been asked before.

    I am thinking of changing from Sole Trader to a Ltd Company in January.

    For the same reasons most do...ie:

    Qualify for Grants etc

    A few Questions

    I have read somewhere that I cannot keep my current Business name with CRO?

    Would the company be considered a Startup and Qualify for some of the grants out there?


    For a big decision like this you would need a good accountant. The cost of an Audit each year is a big consideration also if you are not making huge money.
    Get a good accountant as I have seen many good men make these mistakes with Farm Partnerships etc so do once and do right.


  • #3
    EIREHotspur
    Registered Users, Registered Users 2 Posts: 768 ✭✭✭EIREHotspur


    A very late thanks for that reply.

    I googled though and it says certain companies have to be audited each year but a point well taken on the Accountant advice....I will do that.

    thanks again!


  • #4
    spoiler
    Registered Users, Registered Users 2 Posts: 38 ✭spoiler


    Most companies do not need to be audited. You will need to file accounts with the CRO and revenue. If you require any assistance please send me a PM.


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