McKernan and Co offer a full range of tax services and can help ensure your business remains compliant
We are fully registered tax agents enabling us to engage with Revenue on your behalf, as assist whether needed.
Both are business taxes, however corporation tax is charged on corporate entities with income tax charged on the trading or rental income of an individual. In Ireland the current Corporation Tax rate on trading income is 12.5%.
Capital Tax is based on the sale of assets as apposed to trading income.
Typically VAT returns are due on a bi-monthly basis commencing the first day of January, March, May, July, September and November. In the case where a company is paying a set amount set amount by Direct Debit each month, they will only be required "to file a return" once annually.
If you file your tax late, you will be hit by Penalties from the Revenue.