Learn how to pay yourself from your company
Date: Thursday 12th December 2019
Time: 10:30am – 11:30am
When you’re starting a business, one of the first questions you’ll ask yourself is: “how do I pay myself?”
It’s important to note what is involved in taking a salary as a Director of a company and how to pay yourself in the most tax efficient way.
Join Chartered Accountant, Tom Francis, for an exclusive webinar to learn how to take money out of your company and other accounting requirements that are involved with paying yourself.
What you'll learn:
The different options for payment inside and outside of Ireland
There are generally two ways you can pay yourself: salary or dividends. If you're not a resident in Ireland, there may be a double taxation agreement with your country of residence or you may be able to apply for a PAYE exclusion order.
How to pay yourself a salary through payroll
Taxes can differ between proprietary Directors vs. non-proprietary Directors. Paying yourself through payroll can have different requirements depending on personal circumstances.
How you can plan your salary to minimise tax liability
You can plan your salary to avoid the higher income tax rate of 40%. You can also contribute to a pension scheme that can lower your tax liability.
How to claim tax credits
Depending on personal circumstances, tax credits can help reduce the amount of income tax due.
The different types of accounting responsibilities with each payment method
Salaries and dividends paid out to Directors need to be reported to Irish Revenue through specific forms and processes.
How to decide the best payment method for you
You can ask your specific questions using the chat box function and our accountant Tom will help you decide what the best payment method is for you. If you need specialised advice, you can arrange a private consultation with one of our accountants.
More Startup Masterclasses available
We're delighted to host a range of other Startup Masterclasses you can register for.
Important Deadlines For My Irish Company
All Irish Limited Companies have strict deadlines they need to follow. It's important to know when your company's deadlines are and what you need to prepare for them.Register for Deadline Startup Masterclass here
How Do I Hire Employees?
Ready to hire your first employee? Learn how to process payroll, what taxes you need to deduct and how to use the use PAYE modernisation system.Register for Hiring Masterclass here