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bigduckontax
bigduckontax, Accountant
Category: UK Tax
Satisfied Customers: 830
Experience:  FCCA FCMA CGMA ACIS
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I need to compare the cost of operating an Irish company and

Customer Question

I need to compare the cost of operating an Irish company and Uk company with an income of 100k pa. Is there a spreadsheet calculator that can used to compare these types of things?
Submitted: 10 months ago.
Category: UK Tax
Expert:  bigduckontax replied 10 months ago.

bigduckontax :

Hello, I'm Keith and happy to help you with your question.

bigduckontax :

In general terms Ireland would appear to be a better location. The Irish Corporation Tax rate is levied at 12.5% whilst in the UK it is 20% it for companies with your profit level.

bigduckontax :

Hope this answers your question. Please come back if you require more detail. Be so kind as to rate me; although you have paid I do not without a rating!

Customer:

yes i have seen this head line rates but need a more indepth analysis please

Customer:

currently with the UK you can take income as dividends at 20% how would you take out cash in a irish company, what expenses would not be claimable in ireland that can be in the UK etc.

Expert:  bigduckontax replied 10 months ago.
Our chat has ended, but you can still continue to ask me questions here until you are satisfied with your answer. Come back to this page to view our conversation and any other new information.

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Expert:  bigduckontax replied 10 months ago.
Well, not quite!

Dividend Withholding Tax in Ireland

Dividend Withholding Tax is deducted at the rate of 20% from dividends paid by Irish companies. It can be set off against income tax due, or reclaimed where the recipient of the dividend is not liable to tax.

So much for the Irish Companies.

In the UK companies distributing dividends make a notional tax deduction of 10%. The recipient is only taxed at 10% unless the gross income puts them into higher tax brackets. Then it is grossed up to the higher rates.
Customer: replied 10 months ago.

Would you be able to calculate which company to choose based on 100k income 25K expenses. with the desire to draw as much income to a UK resident director as possible?

Expert:  bigduckontax replied 10 months ago.
Just Answer site policy requires an inquiry of this nature to be the subject of a new question.
bigduckontax, Accountant
Category: UK Tax
Satisfied Customers: 830
Experience: FCCA FCMA CGMA ACIS
bigduckontax and other UK Tax Specialists are ready to help you
Expert:  bigduckontax replied 10 months ago.
Thank you for your support. Pleased to be of service.
Customer: replied 10 months ago.

Please calculate which company to choose based on 100k income 25K expenses. with the desire to draw as much income to a UK resident director as possible?

Expert:  bigduckontax replied 10 months ago.
Just Answer site policy requires an inquiry of this nature to be the subject of a new question. Please be so kind as to submit this as a separate request.
Customer: replied 10 months ago.

i did submit as a new question

Expert:  bigduckontax replied 10 months ago.
Yes, but as a supplementary item to an existing question of a nature which would require substantial effort. It should be posted as an entirely new question.

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