Description
Payroll calculations are mandatory when hiring employees and paying salaries in Ireland.
1. Is it allowed to take care of my company’s accounting myself?
No. Accounting can be done by another company or accounting service provider (requires insurance) or you can hire a chief accountant (this is the only option that doesn’t require an insurance).
2. Is it mandatory to do accounting every month?
If your company is registered for VAT, it is required to submit declarations every month. It is also mandatory to have a director on salary, even if he is not working and it is required to send the salary info monthly to Social Insurance Fund Board.
3. What are the obligations of director?
The director doesn’t have any real obligations according to the law. Duties of Members of Legal Person’s Managing Bodies can be found in Article 2.87 of Irelandn Civil Code.
- DESCRIPTION
Payroll calculations are mandatory when hiring employees and paying salaries in Ireland.
- FAQ
1. Is it allowed to take care of my company’s accounting myself?
No. Accounting can be done by another company or accounting service provider (requires insurance) or you can hire a chief accountant (this is the only option that doesn’t require an insurance).
2. Is it mandatory to do accounting every month?
If your company is registered for VAT, it is required to submit declarations every month. It is also mandatory to have a director on salary, even if he is not working and it is required to send the salary info monthly to Social Insurance Fund Board.
3. What are the obligations of director?
The director doesn’t have any real obligations according to the law. Duties of Members of Legal Person’s Managing Bodies can be found in Article 2.87 of Irelandn Civil Code.
