Key Post How does Entrepreneur Relief work for contractors?

[Eng_Girl]

@Brendan Burgess

In reply to Post #8 I cant direclty reply maybe because I am a new member.


First time poster currently working as a engineering contractor in the construction sector with my own full ltd company not long after starting.


Would closing down the business and going to a staff based position in 5 years time be seen as a genuine reason for the cease of trading ?

 

[JamesBM]

@Brendan Burgess

In reply to Post #8 I cant direclty reply maybe because I am a new member.


First time poster currently working as a engineering contractor in the construction sector with my own full ltd company not long after starting.


Would closing down the business and going to a staff based position in 5 years time be seen as a genuine reason for the cease of trading ?

Any views on how the attached has impacted Revenue's stance on the Closed Company Surcharge?

https://www.taxappeals.ie/_fileupload/Determinations/2021/76TACD2021.pdf

If someone is operating a services company but does not possess a professional qualification and there is no supervising regulating entity for the activity carried out deeming the company liable for the surcharge would appear to be at odds with this determination?
See page 64: "Therefore the absence of a formal educational structure to qualify the Appellant’s staff and external consultants to perform their work and the lack of accountability and regulation by a supervising regulating entity leads me to conclude that the Appellant was not engaged in a “profession” or in the “provision of professional services” as envisaged by TCA, section 441"