The benefits of trading through an Irish limited company have never been greater. The advantages of structuring your business in this way are:
- Limited Liability - this protects your personal assets should things go wrong.
- Low Corporation Tax Rates - only 12.5% of trading profits.
- Improved Cash Flow - due to the lower tax rates.
You can also choose how and when you pay yourself - a sole trader's profit is taxed on them personally, irrespective of how much money they take out of the business. A director of a limited company pays personal tax rates only on what is drawn from the company.
Francis Brophy & Company can advise you on the best way forward financially for your business. Contact us if you need advice on whether to incorporate your business or how to meet the ever increasing burden of compliance with VAT (Value Added Tax) or PAYE (Pay as You Earn) regulations.