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HLB Nathans tax consultants
offer a wide range of corporate tax services to an extensive range of
existing corporate clients. We realise that corporation tax can be a
significant cost to any business and so our advisors work very closely
with clients to ensure minimum tax exposure.
Our services in the area of
Corporation Tax include the following:
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Advice and registration of newly formed businesses.
Companies resident in Ireland must register for tax by completing form
TR2.
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Corporation Tax returns
A company must file a corporation tax return by the 21st day of the
ninth month following the end of the accounting period.
• Corporation Tax payments
Preliminary tax is due for
payment by the 21st day of the month prior to the end of the accounting
period. The payment may be 90% of the current year’s
liability. The balance of tax is payable on submission of the
corporation tax return, by the 21st day of the ninth month after the
accounting period.
A “small company” (i.e. companies where the tax
liability for the preceding chargeable period does not exceed
€200,000) can opt to base its preliminary tax payment on 100%
of the prior years corresponding tax liability. The increase of the
corporation tax liability threshold for treatment as a small company to
€200,000 is effective for preliminary tax payment dates after
5 December 2007.
New or start up companies with a corporation tax liability of
€200,000 or less for the first accounting period will not be
required to make a preliminary tax payment in respect of that first
accounting period but will instead be required to pay their final
corporation tax liability at the same time as they are required to
submit their tax return. This is effective for preliminary tax payment
dates arising after 5 December 2007.
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Companies who fail to file a Corporation Tax Return on or before the
specified date will be subject to surcharge penalty as follows:
(a) where the delay in filing is less than two months, the surcharge is
5% of the company's tax subject to a cap of €12,695
(b) in other cases, the surcharge is 10% of the company’s tax
but is capped at €63,485.
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Minimising a company's overall corporation tax charge
Our tax consultants provide clients with tailored tax planning advice
on how best to reduce their corporation tax liability.
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Advice on the most efficient methods of structuring a business
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Advice on tax efficient financing of businesses
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Advice on existing foreign companies setting up operations in Ireland
Our tax consultants offer advice on the set-up, commencement and
ongoing operations of subsidiary and branch operations of foreign
entities.
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Advice on minimising the overall tax burden of international company's
by utilising Double Taxation Agreements
Where a company is also liable to tax in another jurisdiction with
which Ireland has signed a double taxation agreement it may be possible
to reduce the Irish tax exposure by utilising such agreements.
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Advice to company shareholders to maximise their value from a corporate
holding
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Planning for Director/Shareholder retirement from a company
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Corporate