As well as being able to carry out limited company admin duties such as officer appointments, address updates and annual returns (to mention but a few) you can also view basic company information such as full officer information, the registered office, the share capital, the accounting reference date , annual return due dates and annual account due dates.

To ensure that the information we hold mirrors that which Companies House have, you should click the “Sync Data with Companies House” button at the top of the company admin page. This updates our system so that it reflects any recent changes that have been made to the company. We recommend doing this every time that you visit the page.

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In recent years, Ireland has become the investment destination of choice of over 1,000 multinational companies. This was due in equal measure to the pro-business environment as well as the widely publicised attractive tax regime that Ireland has to offer.

Despite its many economic problems, this is still the case. A recent report found Ireland to be the easiest country in Europe and the 6th easiest in the world in which to pay business taxes and Ireland was ranked 5th in the world for protecting investors by a Global Innovation Report.

Here are ten reasons why you should consider Ireland as a venue of choice

1. The well publicised low corporation tax rate of 12.5% is one of the lowest in Europe comparing favourably with the UK’s 26% and France’s rate in excess of 34%.
2. Favourable treatment on receipt of dividend income.
3. Double taxation relief available for tax suffered in foreign branches.
4. Tax credits available for research and development activity.
5. Dividend withholding tax exemption for payments to certain entities.
6. Tax exemption for start-up companies.
7. Extensive tax treaty network.
8. Capital Gains Tax participation exemption on disposal of qualifying shareholdings
9. Varied limit Transfer Pricing rules
10. Pro-business location

For more information on how to go about setting up a presence in Ireland please contact Grant Beaming at grantb@madesimplegroup.com

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Tomorrow we shall look at how to let Companies House and HMRC know that your limited company is dormant.

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We can now offer Companies Made Simple customers a free 60 day trial with KashFlow, providers of online “Accounting Software for Small & Medium Size Businesses”. Once the trial period is up we can offer a special price of £14.99 per month.

For more information, or to sign-up for this very special Kashflow offer, click
here.

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One area where we offer help is company tax registration. We know that some people find all things tax related a bit of a headache, that’s why we offer the following:

• PAYE Registration
• VAT Registration Assistance
• CT41G Assistance Service

To buy one of these service or for more information click here:
Company Tax Registration

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Very quickly, employees can become one of your largest investments and you should therefore pay ample attention to issues such as:

• People management/development and appraisals
• Internet use policy
• Reducing high staff turnover
• Induction processes
• Training

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The company form CT41G is sent to all new companies after they are incorporated. The form notifies H M Revenue & Customs of your accounting date, your accountant, and also enables a PAYE (Pay As You Earn Scheme) to be set up, which is a requirement if you are to be an employer.

CT41G can be downloaded here

CWF1 can be downloaded here

If you fail to register within the first three full months of commencing business a penalty of up to £300 plus a continuing penalty of £60 per day, or £3,000 if information is given negligently or fraudulently by a company.

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As explained on their site, they administer:

• Capital Gains Tax
• Corporation Tax
• Income Tax
• Inheritance Tax
• National Insurance Contributions
• Excise duties
• Insurance Premium Tax
• Petroleum Revenue Tax
• Stamp Duty
• Stamp Duty Land Tax
• Stamp Duty Reserve Tax
• VAT
• Child Benefit
• Child Trust Fund
• Tax Credits

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You need a plan of attack. Specifically, you need to find out exactly what your existing and potential customers want—it’s not always the lowest price. (This will form the basis of your marketing plan.)

You then need to organise your business so that you can delight your customers. (This forms the basis of your operations plan.) This will require giving attention to your team members and equipping them with the resources and skills they need to excel in what they do. . . . You must systematise your business.

Finally, you need a management control plan in place to make sure everything is working the way you designed it to work. This will focus on the things you must get right to succeed. We call these things your Critical Success Factors. We measure how your business is performing in relation to them with the use of Key Performance Indicators.

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VAT Registration

PROS

• You will be able to recover VAT on your purchases.

• The VAT you can recover will not just be from the date you register for VAT but will include any VAT you have suffered on goods or assets purchased 3 years prior to registering for VAT, providing they are still on hand at the time of registration and that you have the evidence of this such as an invoice.

• For VAT on services incurred prior to starting a limited company, these can be recovered up to 6 months prior to the VAT registration. The services have to be for business purposes and you must keep an invoice.

• There is generally a considered view that there is an element of credibility in being registered for VAT. If your customers see you as a limited company not VAT registered, they may well think the business is not large enough to service them properly.

Registering for VAT

CONS

• VAT is extremely complicated.

• You will have to keep careful VAT records and accounts.

• You will have to send in regular VAT Returns.

• You may well be subject to a higher level of scrutiny by HM Revenue & Customs.

• You may well need additional accounting assistance on VAT issues.

• VAT on petrol is an added complication.

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