Learn how to pay yourself from your company
Date: Thursday 7th October 2021
Time: 10:30am – 11:30am
This Startup Masterclass is perfect for you if you’ve just started a new company. Or if you’re changing from Sole Trader to Limited Company in Ireland.
As a Director of a company, there are more ways you can pay yourself than if you are a Sole Trader. You can pay yourself a salary or dividend and contribute to your pension through your company.
Join Chartered Accountant, Tom Francis, for a live Startup Masterclass to learn how to extract money from 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.
Your hosts, Tom Francis FCCA and Ciara Mc Laughlin ACA
Join Tom and Ciara for an exclusive webinar on how to take money out of your company and other accounting requirements that are involved with paying yourself.
This is a live Masterclass so you can use the chat-box to ask Tom any questions you have about the topic.
How do I join the Startup Masterclass?
Our Startup Masterclasses are free for clients of Accountant Online. You will receive a link to register for our Startup Masterclass each month.
If you’re not a client yet, check out the Company Formation and Accounting Services we offer.
New Limited Companies can avail of our Startup Offer for accountancy services. Our unique accountancy offer for Startups costs only €159+VAT/month for your first 18 months.
Talk to our Client Services Team to learn about what services are best for your needs. We’re happy to help. Chat online, call +353 (0)1 905 9364 or email firstname.lastname@example.org.
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