Setting up a new company - tax clearance cert and vat

[jimmyd]

A friend of mine is setting up a limited company with his friend as the 2nd director.
They intend to employ 2 other workers.
Once they pick the company name and get the forms filled out is there much work getting a VAT number and a tax clearance cert as they will be dealing with county councils that want them to have tax clearance certs.

They both have been working for the last 10 years as prsi workers and all is up to date for them.

 

[Graham_07]

Need to file form TR2 with Revenue to get taxes registrations, VAT PAYE/PRSI and Corporation Tax, all on one form. They will need to have the company bank account set up before they can get a VAT registration.

Regarding Tax Clearance , once tax numbers in place can be done online through www.revenue.ie under "electronic services" and "apply online for a general tax clearance certificate". NB directors tax histories are relevant so it's good that those are clear. When applying for the tax clearance cert if you click on the online viewing , I'm not sure what it's called but it allows you to give the number to any of the parties looking for the cert and they can see online that you have it.

Finally, recommend they get a good accountant pretty quick to make sure they're up to speed with their obligations on company law and revenue requirements.

Best of luck to them

 

[jimmyd]

Any idea what sort of time frame does it take after you apply for the tax reg and the tax clearance cert? weeks or months to get them ?

 

[Graham_07]

Any idea what sort of time frame does it take after you apply for the tax reg and the tax clearance cert? weeks or months to get them ?

once the company is set up if u submit the TR2 should only take a couple weeks. ONce you have tax reg. then tax clearance turnaround is usually 5-10 working days from application.

 

[jimmyd]

Thanks for that info.