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CT | Corporation Tax Return for Companies Calculation and Filing

We understand that starting a business can be challenging. Our fees are affordable and come with excellent customer service.

Overview

Most limited companies in Ireland are legally required to register for Corporation Tax (CT) with The Office of the Revenue Commissioners (Revenue) within 4 weeks from the date of first income. If no income has yet been received, then the period for registration is within 12 months from the incorporation date. CT Registration is a necessary minimum and of highest priority when setting up as it entails attribution of a Tax Registration Number (TRN) for your company, while Registration for Employers Tax (PAYE), Relevant Contract Tax (RCT), Value Added Tax (VAT) is rather secondary and based on CT Registration. Entrust СT Registration at The Office of the Revenue Commissioners to Chern & Co team of professionals.

Corporation Tax Registration with Revenue Service includes:

  • Registration of your limited company on ROS.ie for CT
  • Consultation on how to account for corporation tax on your bookkeeping if needed

Please note: If you want your company to be registered for Corporation Tax, Employer Tax (PAYE) and Relevant Contracts Tax (RCT) at once, there is such an option. 3 in 1 Registration costs 150€, the same as CT Registration alone! When ordered separately it may cost up to 350€.

Corporation Tax Registration with Revenue Service does not include:

  • Filing or preparing your corporation tax regularly
  • Our team acting as your accountant

Please note: If you need the abovementioned options feel free to discover our accounting services!

How is the Service delivered?

  1. You contact us any way available. We will answer all your questions and concerns and not charge extra for that.
  2. Agree on the Service and finalise the list of optional extras if you need some.
  3. We are preparing an invoice for payment and a service contract.
  4. After payment is received, we send you a list of all the information required for our further work, including your personal data, and supporting documents. We will provide you with detailed and comprehensive instructions to this end.
  5. We do all relevant work and prepare required documents in a timely way and submit the application for CT Registration to the Revenue online via ROS as your company’s tax agent.
  6. When the procedure of registration with Revenue is over, you will get the TRN of your company.
  7. And we are done! We handled bureaucratic steps so that you can focus on building your business empire.

Please note: We are mandated to collect and verify proof of ID and address to comply with Anti-Money Laundering (AML) regulations as well as other legal acts. We value the privacy of our clients and guarantee complete security and confidentiality of all data received.

FREQUENTLY ASKED QUESTIONS

How do I Register my Company for Corporation Tax in Ireland?

To register your company for tax, you must first obtain a CRO number issued by the Companies Registration Office (CRO). According to Revenue, if you have a tax agent representing your company, then your application for tax registration must be submitted through Revenue Online Service (ROS) by your tax agent on your behalf. If your company is not represented by a tax agent, you must submit a Form TR2 for Irish resident companies or Form TR2 (FT) for foreign companies your own. Please note: The above options are mutually exclusive. Revenue warns that they will not process your paper application if you were supposed to submit an online one. Anyway, under existing laws, all the companies are required to make payments and returns by electronic means using ROS. In case you opt for Corporation Tax registration with Revenue Service for your company, Chern & Co team can become your tax agent and go through the whole procedure on your behalf. After successfully submitting the form to the Revenue and its further processing be Revenue you will be given a Tax Registration Number.

What is a Revenue Online Service (ROS)?

ROS is a digital service that provides contactless ways of interaction between taxpayers and Revenue when exercising rights and obligations in the field of taxation online. This governmental online service allows, in particular:

  • to view your current position for various taxes and levies
  • file tax returns and forms
  • make payments for your taxes online

What is a Tax Registration Number?

A Tax Registration Number (TRN) is issued by Revenue when you register for tax as a sole trader, trust, partnership, or company. You must use your TRN when trading and filing your tax returns. After finally getting the TRN, you are free to conduct all the business operations and to open a company business bank account, which you may need.

How long does Corporation Tax Registration take?

The Revenue Commissioner usually takes a minimum of 5 working days to issue your tax number (TRN) depending primarily on your application and other factors beyond our or your control. Practice shows that this procedure may take either a couple of weeks or a couple of months. Please note: Chern & Co team will prepare your application and do all the relevant work in a timely way, but we cannot guarantee further registration time by official authorities. Registration may be delayed depending on the current workload and staff availability of Revenue. Conducting bureaucratic formalities in Ireland has never been easier with Chern & Co. Please do not hesitate to contact us. We will answer all your questions and concerns and not charge extra for that.

Disclaimer: This content of this page is for acquainting purposes only and subject to change. It does not constitute any professional advice. No liability is accepted by Chern & Co for any actions taken or not taken in reliance on the information set out in this article. Professional, legal or tax advice should be obtained before taking or refraining from any action.

CT | Corporation Tax Return for Companies Calculation and Filing

What’s Included:

  • Registration of your limited company on ROS.ie for CT
  • Consultation on how to account for corporation tax on your bookkeeping if needed

What You Need To Know

Frequently Asked Questions

Setting up a company in Ireland carries plenty of benefits. These are the smooth process of annual returns submission, low Ireland corporate tax rate (lowest in the EU), official documentation in English, access to the European market, the brilliant reputation of Ireland as a business-friendly country, availability of progressive and educated workforce.

It takes just a few hours to fill in and prepare necessary company documents and forms. Once documents are submitted to the CRO, it usually takes 3-5 days to issue a company registration number. Due to the impact of Covid-19, the Companies Registration Office may process applications for up to 2 weeks.

Yes, there is no need to physically come to Ireland to set up a company. Certainly, you are more than welcome to visit the country. It’s beautiful! Forms are uploaded digitally using scanned pdf files of original signatures. Please note, CRO does not accept digital signatures done by typing a name or drawing a signature.

A company is a legal entity separate and distinct from those who own or run it. In order to incorporate a company a Form A1 shall be filled in and submitted together with a Constitution to the Registrar of Companies with scanned signed originals. Anyone can register a company themselves. However, it is advised to use a professional to ensure compliance with the Companies Act 2014. Each company must have a director and a secretary, must carry business in the state and have a registered office address in Ireland.

Limited company is a separate entity from a legal person. Ltd companies are limited by shares. If business is liquidated, the company’s liabilities are treated separately to those of its shareholders and directors, in a way, protecting them from debt and financial losses of the business itself. Partnerships, on the other hand, have limited and unlimited partners who are treated as legal persons. Unlimited partners are responsible for all debt and liabilities accrued by the business.

A company can be closed or wound up by a process called Voluntary Strike-Off. This is a quick and easy way to dissolve the company without any consequences for the founders and directors. Both trading and non-trading companies can be closed. The main criteria for eligibility would be no debts and no assets above €150. If this condition is not met, the company shall be liquidated or will be struck off the register by CRO by a process called Involuntary Strike Off with possibility of fine. Book in a free consultation to discuss winding up of your company.

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Chern & Co team offers Registered Office Address, Business Address, Company Secretary, Nominee Director, Nominee Shareholder and other professional services to international customers who need to set up a branch or present in the European Union.

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Chern & Co Ltd
18 Mallow Street Upper
Limerick
V94 N12Y

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Monday to Friday
9 am – 5 pm

Company Registration: 604324

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