If you are an Irish resident director, a sole trader operating or resident in Ireland, a partner within a partnership operating in Ireland or the owner of Irish real estate it is likely you will need to file an Irish Income Tax return each year. This return is called a Form 11, and with the advent of ROS (Revenue’s Online Service) it is a straightforward process, provided of course that you are a straight forward person! This is not always the case. Often there is that little complexity that needs careful attention. We can assist you with your filing requirements and advise you on all potential reliefs, credits and deductions available. Indeed with marginal income tax rates of 55%; it is highly desirable for all business owners to operate their venture through the limited liability company structure.
This is true in nearly all cases, save where you are specifically prohibited from operating your business in this way. Barristers, solicitors and GPs fall into to this category, as do certain other professions. We have accumulated significant experience in assisting business owners minimise their effective tax rate through the course of their business careers with simple and effective strategies. Ireland remains a country that provides many lucrative tax reliefs for business owners. It is simply a matter of structuring your business arrangements to take advantage of what the Country offers to business owners in terms of exemptions and reliefs. We provide specialist services to law firms, legal guardians, medical practitioners and sports athletes.
We also assist our clients in setting up the most efficient non-corporate structure for a particular scenario. This may be a trust, a partnership, a sole trade or co-ownership or otherwise.