Tax Structure for business - what is your set up
Tax Structure for business - what is your set up
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IATM

Original Poster:

3,948 posts

178 months

Tuesday 7th April 2015
quotequote all
Hi All,

Had a meeting with the accountant today and he said something that got me intrigued.
Just to make it clear I am looking to get a better understanding of this topic and get some advise. Hopefully won't get abuse!

In talking to him and discussing my business he seemed to think having a Registered Office in Ireland therefore reducing my CT to 12.5%.
He did sort of go through a check list of what I do so I will say the same here. I sell online only (ebay) - probably 85%, the other 15% is worldwide (all within EU). I do not have any high street presence at all. No staff (just me runs the company).

He said there was no issue is doing this and is perfectly legal - he did mention a few things such as management fee going to the Ireland registered company etc etc - to be honest I was in such a rush I didn't take down any notes.

Without prying does anyone else have such a set up and are their any pitfalls in this - he mentioned having to do transactions or transferring money in EUROS too - don't know if the rate fluctuations could cost me money too.

Birkin1932

791 posts

170 months

Tuesday 7th April 2015
quotequote all
I would seriously consider moving accountants.

You need one that reads the papers.

Google, 'double Irish' or better still 'google tax'


Eric Mc

125,855 posts

296 months

Wednesday 8th April 2015
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Is he an Irish accountant?

db10

291 posts

294 months

Wednesday 8th April 2015
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Do you live in Ireland? If you run the company from the uk then the Irish company will be uk tax resident so will have to pay uk corporation tax so basically you wasted a lot of time and money!

Simpo Two

93,053 posts

296 months

Wednesday 8th April 2015
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I tend to apply the 'if that was that easy everyone would be doing it' test...

IATM

Original Poster:

3,948 posts

178 months

Wednesday 8th April 2015
quotequote all
Hi everyone - I have had a good read around including latest articles regarding the set up and I do not see for the hell of me how he suggested it if I am honest.

Its clearly been border line acceptable within the law for large corps but even that looks like its coming to an end and this sort of set up is only part of it - its obviously much more complicated within larger organizations.

I have to say at the time I did say to him are you sure this would be OK because essentially all my operations are within the UK even if my goods come from outside the UK and I sell 10% outside the UK - his reply was yes within the law.

I think I will need to pull him up on it - always happy to reduce my bills within the law but this is like taking a dump outside the HMRC office and saying take a sniff. Not something I would like to do.

theboss

7,549 posts

250 months

Thursday 9th April 2015
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IATM said:
this is like taking a dump outside the HMRC office and saying take a sniff. Not something I would like to do.
I don't know - I'd certainly *like* to do that hehe