Corporation Tax

Every Irish company that carries on a trade or holds assets has to file a corporation tax return and pay tax on its profits. Our corporation tax service in Ireland handles the full job: preparing the computation, filing your CT1 through ROS, managing preliminary tax and claiming the reliefs your company is entitled to, so you stay compliant and pay no more than you should.

Ireland’s 12.5% rate, and getting it right

Ireland’s 12.5% rate on trading income is well known, but applying it correctly is where the value lies. Not all income qualifies for the trading rate: passive income such as rents and investment returns is taxed higher, and larger groups within the scope of the global minimum tax face an effective 15% rate. Classifying your profits under the right heading, and backing that with proper records, is the kind of detail we manage on your behalf. Our guide to corporation tax in Ireland explains the rates and rules in more depth.

The CT1 return, prepared properly

A corporation tax return is only as good as the computation behind it. We:

• Prepare the corporation tax computation from your statutory accounts
• Identify and claim capital allowances on qualifying assets
• Apply loss relief, group relief and other reliefs where available
• Check eligibility for the start-up exemption and the R&D tax credit
• File the CT1 and iXBRL financial statements through ROS, on time

Because we also handle your accounts preparation, the figures flowing into your tax computation are reliable and consistent with what is filed at the CRO through your company secretarial annual return.

Preliminary corporation tax and cash flow

Companies pay preliminary corporation tax during the accounting period, ahead of the final balance. The rules differ for small and larger companies, and underpaying brings an interest charge from Revenue. We calculate the right amount for your company, taking your cash flow into account, and remind you in good time so payments are never missed.

Reduce the bill the right way

There is a real difference between aggressive schemes and sensible, compliant tax management, and we only do the latter. Depending on your company, that can include:

• Capital allowances and accelerated allowances on qualifying assets
• The R&D tax credit for companies carrying out qualifying development
• The start-up corporation tax exemption for new trading companies
• Efficient profit extraction, balancing salary, pension and dividends
• Loss and group relief planning across accounting periods or group members

We review these each year as part of your return and look further ahead through our tax planning service. For groups, mergers or restructures, our company reorganisations and company restructuring specialists make sure changes are carried out tax-efficiently.

Joined-up company compliance

Corporation tax sits alongside your other filings. We coordinate it with your VAT returns, payroll and overall tax compliance, and where you also have personal exposure as a director, with your income tax return, so your company and personal positions work together rather than against each other.

Local corporation tax advisers, nationwide

You can work with us from our Mullingar office or our offices in Longford, Trim and Athlone, and we look after corporation tax for companies right across Ireland.

To get your CT1 prepared correctly, sort out an overdue return, or plan ahead to reduce next year’s bill, get in touch. Book a free consultation and we will set out a clear, fixed approach to your company’s corporation tax.