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Cost of setting up a ltd company

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  • 07-03-2016 11:04pm
    #1
    ash1511
    Registered Users Posts: 191 ✭✭


    Hi,

    I've read the comments on this thread about setting up a company. It is a pretty old thread. So I wanted to ask you all about it. I'm looking to setting up a company and work as a contractor through it. After doing some research I understood that I will need an accounting company to take care of the accounts and taxes. So my question is -- what is the cost of setting up a ltd company? Also, how much should I be paying an accounting company to get the setting up and accounts done for me?

    Thanks!

    ---
    Edit
    Has anyone used http://www.registeracompany.ie/contact.cfm or http://www.companysetup.ie/? Any recommendations?


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    #2
    Joseph
    Registered Users Posts: 1,521 ✭✭✭Joseph


    It will cost 100 euro to set the company up, you can do this yourself - no need to pay an accountant a couple hundred extra to do it. The A1 form is fairly simple to fill in, if you have questions feel free to ask here.

    Accounts/taxes will depend on the level of help you need. For example if you are diligent at keeping receipts, records etc it is cheaper. If you give your accountant a big pile of receipts it will be expensive.

    If you do your own VAT / P30 returns etc it will reduce the cost and you should absolutely do them yourself.

    Based on you being diligent and doing your own regular returns it should cost in the region of 300-500 a year for your accountant.


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    #3
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    There's a few accountants that specialise in contractors, go and talk to one of them and they'll organise everything for you including setting up the Limited company. Just do a google search for accountants for contractors.

    If you want to test the waters before committing to a company of your own, most of them will also offer umbrella company services.

    Like anything you can save some money if you do some or all of the work yourself. Most contractors quickly realise their time is more profitably spent on their core business.


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