Accounting and Payroll in Ireland
Ireland Business Experts
Ireland related forum posts
Total Posts: 3 Last post by Marta0605
Hi,I am an IT contractor who contracts through a limited company registered in the UK. I have managed to get a contract in Ireland where the client will be paying me in Euros. It is a 6 month contract so I will not become resident in Ireland (i.e., under the 183 day limit).I am looking for advice as to the best way to set up my finances for this. What I really want to avoid is having mo
Total Posts: 3 Last post by firstname.lastname@example.org
Accounting and Payroll in Ireland
It is recommended, and probably in your best interest, to employ an accountant in Ireland. They'll nearly always save money, and more importantly, will make your business in Ireland the most financially efficient it can be. Used wisely, accountants in Ireland can make you more profitable than ever.
Accountants in Ireland provide a range of services. They can look after everything financial, from fundamental book-keeping to more specific advice. You could hire accountants in Ireland simply to prepare financial statements for your tax return, or you may require them for other added-value services such as auditing. Accounts must be audited each year, unless the company or region you are based in is exempt.
It is essential to choose an appropriate accountant for your circumstances. If you just want an accountant to take care of your book-keeping, then a small firm will probably suffice. However, if you require astute financial and planning advice, a larger, more reputable company might be needed. Check they're chartered / registered with a recognised accounting body. It is important to lay out exactly what you want them to do for you and what the charges will be.
Keeping a sound financial record is essential. Apply yourself. Have a good system in place and then the time that you do spend on accounts won't be so burdensome. Ensure you retain receipts for everything you buy. It is recommended that you keep a ledger or book with the details of what the receipt is for. Keep a record of all sent and received invoices too. These will keep you informed that you've been paid or have money owing, etc.
Ultimately, applied and diligent record-keeping will keep your accountancy costs low when setting up a business in Ireland.
Organisations that can assist with Accounting and Payroll
Legal Absolute provides a bespoke advisory service across a range of areas for international clients. We combine a fresh approach with professionalism and expertise, offering comprehensive, tailored services in today’s global and competitive market.
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The Irish government is keen to promote an environment which is attractive for foreign investment. The low corporate tax rate for trading profits of 12.5%, coupled with many tax exemptions , 70 global tax treaties and incentives to invest, make Ireland a very attractive jurisdiction in which to set up a company.
PEO Worldwide is an international PEO offering employer of record, payroll, employee benefits management, HR and compliance services throughout the world.
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