L
Lordwaffle
Guest
Hi
I registered a company last year {in April} and started to trade and have a couple of queries;
I have not filed any accounts yet, in fact as yet I have not appointed an accountant or set up paying wages. This is just me and my husband involved.
A decent profit was generated from the outset and the business is growing at a good rate.
1. Coming from UK system bit confused here. Can I have March year ends like UK or do they need to be calendar year ends?
2. What is the best, most tax efficient way of extracting profits from this business? For background we have no other income, are married and have {if relevant} 4 children.
One is 18 in a few weeks and does work c.30 hours a week in the business packing parcels. We give him cash but obviously might be more efficient to put him through the books. We do not as yet claim any Irish child benefit for any of our children. Mainly because whilst my partner got around to getting a PPS number, I nor the children did not.
2. I know I missed some 6 month deadline in October. I need to find an accountant but want to minimise their input in order to save costs. Can anyone briefly explain to me what I should be filing for and what penalties do I have?
3. I have to register for vat but only supply zero rated goods {i know, I know, been too busy running the company!}. What are the penalties when I know there will be zero vat to pay only a refund to make?
Any other general advice?
I registered a company last year {in April} and started to trade and have a couple of queries;
I have not filed any accounts yet, in fact as yet I have not appointed an accountant or set up paying wages. This is just me and my husband involved.
A decent profit was generated from the outset and the business is growing at a good rate.
1. Coming from UK system bit confused here. Can I have March year ends like UK or do they need to be calendar year ends?
2. What is the best, most tax efficient way of extracting profits from this business? For background we have no other income, are married and have {if relevant} 4 children.
One is 18 in a few weeks and does work c.30 hours a week in the business packing parcels. We give him cash but obviously might be more efficient to put him through the books. We do not as yet claim any Irish child benefit for any of our children. Mainly because whilst my partner got around to getting a PPS number, I nor the children did not.
2. I know I missed some 6 month deadline in October. I need to find an accountant but want to minimise their input in order to save costs. Can anyone briefly explain to me what I should be filing for and what penalties do I have?
3. I have to register for vat but only supply zero rated goods {i know, I know, been too busy running the company!}. What are the penalties when I know there will be zero vat to pay only a refund to make?
Any other general advice?
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