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For a limited company is consulting = trading?

Sordini · 2016-06-15 19:39:46

If so my understanding would be corporation tax on profit would be 12.5% If not... 25% I am really struggling with the revenue.ie website and the 1955 in England, the Royal Commission on the Taxation of Profits. I am not sure if I can confidently apply one of the badges

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15-06-2016 8:39pm

#1

Sordini

Registered Users Posts: 50 ✭✭

Join Date: February 2007

Posts: 27

If so my understanding would be corporation tax on profit would be 12.5%
If not... 25%

I am really struggling with the revenue.ie website and the 1955 in England, the Royal Commission on the Taxation of Profits. I am not sure if I can confidently apply one of the badges

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#2 15-06-2016 9:17pm
Lockedout2

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Join Date: March 2016

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Consulting is subject to tax at 12.50%!

With the potential of Close company surcharge of 15% on 50%.

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#3 15-06-2016 10:05pm
Sordini

Registered Users Posts: 50 ✭✭

Join Date: February 2007

Posts: 27

Thank you Lockedout2. Much obliged.

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#4 20-06-2016 9:21pm
The J Stands for Jay

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Posts: 5688

Trading is case I, and consulting would be a profession which is Case II. Both taxed at 12.5%.

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