F
Fluffy2006
Guest
Hi everyone
I just have a couple of questions about setting up a limited company before I go talk to an accountant.
I'm a PAYE IT worker considering setting up a limited company to do some contract work.
First of all (although I'd prefer to stay a sole trader) the company where I have a really good offer from is pushing for a company to be set up.
I've googled and come up that I'll need to complete Form STR and TR2 for revenue and can buy an off the shelf company from companies office.
Is the TR2 all I need to register me for VAT and PAYE? I will be the only employee of the company
I'll be a director and an employee but when I pay PAYE on whatever salary I pay myself will I pay PRSI at the A or S class?
If I work from home - maybe 10% of my total working hours - can I claim a % of ESB/Heating as an expense of the business?
And is this something that needs to be agreed with my district tax office beforehand?
At the end of each period when VAT/PAYE returns have to be made will revenue notify me before they fall due and send out details of what I need to send back? (once I have registered) (trying to do as much as possible myself!)
Is there any benefit in keeping my salary lower and leaving money in the business after year end? I know corporation tax is only 12.5% but is there any way of getting that money out of the business?
Sorry about all the questions, I've gone back ages and I am happy enough with the set up bit but figuring out the running part not so much. I just have visons of it being the 31st of October and going oh my god I never knew I had to do that!
Thanks for reading!
I just have a couple of questions about setting up a limited company before I go talk to an accountant.
I'm a PAYE IT worker considering setting up a limited company to do some contract work.
First of all (although I'd prefer to stay a sole trader) the company where I have a really good offer from is pushing for a company to be set up.
I've googled and come up that I'll need to complete Form STR and TR2 for revenue and can buy an off the shelf company from companies office.
Is the TR2 all I need to register me for VAT and PAYE? I will be the only employee of the company
I'll be a director and an employee but when I pay PAYE on whatever salary I pay myself will I pay PRSI at the A or S class?
If I work from home - maybe 10% of my total working hours - can I claim a % of ESB/Heating as an expense of the business?
And is this something that needs to be agreed with my district tax office beforehand?
At the end of each period when VAT/PAYE returns have to be made will revenue notify me before they fall due and send out details of what I need to send back? (once I have registered) (trying to do as much as possible myself!)
Is there any benefit in keeping my salary lower and leaving money in the business after year end? I know corporation tax is only 12.5% but is there any way of getting that money out of the business?
Sorry about all the questions, I've gone back ages and I am happy enough with the set up bit but figuring out the running part not so much. I just have visons of it being the 31st of October and going oh my god I never knew I had to do that!
Thanks for reading!