Ltd and hire myself

Hello everyone,

I have formed a Limited company, but it hasn't been operating for nearly a year and for this reason there is no employee hired at the moment.

I'm starting a consultancy this month under the name of the Ltd company and for this reason I'll need to hire myself.

For what I understand, I need to file the P46 form that can be done on revenue.ie but besides that is there something else that I need to do?

What about salary, contract or things like that? how can I handle them?

For payrolls, I have started to use Sage One (I'm evaluating the trial period at the moment) and it seems very user friendly.

Thanks in advance

Before you hire yourself remember to register your company for PAYE tax. You can do that online.

After you hire yourself remember to send the 12A form to the Revenue to get current tax certificate for yourself.

Don't forget VAT if the company will be invoicing above the annual threshold (€37.5K for a service).

As a company it will be required to file PAYE returns electronically using the Revenue ROS system. Therefore you will need to register the company for ROS. In terms of software do you need payroll software when there is only have one employee? The tax deduction card can take you through PAYE/PRSI/USC calculation. Look at the electronic tax deduction card on the Revenue website.

If you are the 100% shareholder you will be likely be class S1 PRSI.