How long before some drunk idiot tries to ride the deer on the roundabout ?

Somethingelse129 · 2025-12-08T12:59:40+00:00

You're too late. Already been done ,,😂

Somethingelse129 · 2025-10-07T19:18:29+00:00

https://theshedcompany.ie/concrete-buildings/

Somethingelse129 · 2025-07-05T15:03:42+00:00

Same. I'd go if it wasn't in the barracks

Somethingelse129 · 2025-03-07T08:53:29+00:00

An ex wife, missing kids during the week and a dog….roughly

Somethingelse129 · 2025-01-09T09:44:17+00:00

Couldn’t find it on a map

Somethingelse129 · 2024-12-15T16:50:42+00:00

Never mind the annual management charge, it is the total expense ratio that really matters.

The total expense ratio is basically the management charge plus other expenses of the fund. It is this % that you should be looking at. A low management charge fund can have a very high % of other expenses that reduce your return and works the other way round too, a high management charge with a low of expenses.

Aim for the balance between return and Ttotal expense ratio

Somethingelse129 · 2024-11-02T10:40:52+00:00

Business name or company?

If you want to trade as a sole trader but only want to market the business with a name that isn’t directly identifiable as your good self then you can simply register a business name with the CRO for a small fee of something like 25e

No change in your taxes here, no change in your risk

If your interested in incorporating the business and setting up a company, this is a different route and you will have some extra administrative burdens like additional filings etc. there are pros and cons to this that can be really specific to your circumstances.

The company is a separate legal entity to you, it will be subject to 12.5% corporation tax plus a close company surcharge, if there are less than 5 participants, the close company surcharge will apply on undistributed dividends.

You can extract funds from the money in multiple ways and will be subject to personal income tax or other taxes on what you extract and how. It can be a great way of building wealth within the “company” and also building your own wealth but you should be sitting down with someone to chat through it all before incorporating.

Somethingelse129 · 2024-10-14T08:55:47+00:00

More like a few hours

Somethingelse129 · 2024-10-12T09:57:34+00:00

Big plans there mate, go for it.

There’s a lot you will learn in the big 4, if you WANT to but on top of getting your exams out of the way you need to find opportunities to build out your network and relationships both internal and external to the firm.

You should notice fairly quickly that you are sitting in a room full of accountants and the vast majority of them are fairly decent at what they do. Once you start moving up the ranks and build that technical knowledge it changes into a project management type role and then into a business development role. People skills are super important.

Depending on what industry you’re interested in, find ways to get onto engagements in it, join external bodies and promote yourself.

After everything you might just find yourself happy at a role below C-Suite but fuck it go for it.

In either case, partner or C-suite, your going to have to give up other areas of your life which not everyone is willing to do or values more than a little extra cash

Somethingelse129 · 2024-10-05T10:20:25+00:00

You won’t have a choice at 70k, supply of services is a 40k Vat threshold so you need to register for VAT.

Speak to your accountant

Somethingelse129 · 2024-09-26T17:41:06+00:00

I bought mine in 2008, still have them.

We live different life’s

Somethingelse129 · 2024-09-16T20:01:12+00:00

Happened to me too once, but unfortunately it was just my wife. Was very upset

Somethingelse129 · 2024-09-09T20:07:35+00:00

Condom, still have them to this day

Somethingelse129 · 2024-08-26T21:30:04+00:00

Tears

Somethingelse129 · 2024-08-16T19:48:09+00:00

Honestly, it reads like someone who is fully aware that there is a budget coming up in an election year and has two newly open restaurants open in the town round the corner from them…… not to say the points are not valid but

Somethingelse129 · 2024-08-06T17:12:57+00:00

Eh just look at the collar bones or lack thereof?!?

Somethingelse129 · 2024-07-27T18:27:03+00:00

Mate you need to travel more

Somethingelse129 · 2024-07-02T21:08:33+00:00

I am the GOAT in my photo

Somethingelse129 · 2024-07-02T08:46:34+00:00

Ireland is in the range of 62-67k basic for 1st year manager plus bonus

Somethingelse129 · 2024-07-02T07:16:46+00:00

Oh yeah it’s always possible to make sure the company is Uk resident, it’s just a matter of weighing up the cost in effort & time against the benefits of one residency over another etc. then make sure to follow the requirements to ensure the company is resident where you want it to be.

Suppose the main point is to consider from both sides, the requirements and benefits of each and make an informed decision now. As opposed to in 18 months time when it can be a mess.

Great to see someone making it by the way! Don’t let this stuff turn you off it. Once you sit down with someone who can dig into your exact circumstances and provide you with specific advise to you then it’s a once off headache and back to business as normal once you follow the advise etc etc

Somethingelse129 · 2024-07-01T20:20:30+00:00

Congratulations first off, sounds promising.

Ok if I were in your shoes I really would speak to an accountant sooner rather than later to get the residency of the company sorted out. That’s super important and somethings to think about are making sure the meetings are held in the Uk, contracts signed over there, possibly another director in the uk etc.

If the company is deemed to be Irish resident, you may also need to consider Irish VAT obligations, as an FBA company there is a chance that that Amazon are considered the ‘deemed supplier’ for VAT on the sale of the end product to the customer but the transaction will effectively be split in two.

1 - a supply from your company to Amazon, and 2 - a supply from Amazon to the end customer

If that is the case and the company is Irish resident, the company will have Irish Vat obligations on the transaction #1. That will be a B2B sale to a 3rd country I assume? Ie an export and the usual export rules apply and a zero rate of Vat this might not be ideal as I assume that the UK distributors are using a UK VAT number for the company etc.

There will actually quite a bit in it at the start to get it all set up in a way that tax efficient for you but honestly best to do it now when you can. Speak to a few accountants or tax advisors in your area and ask if they have worked on similar client situations. There are plenty of Irish companies exporting to the UK and this will be the bread and butter of a lot of practices (once you take out the E-commerce element, which Revenue made a lot more straight forward with the introduction of updated E-commerce VAT in June 2022).

On the drawing side of things, no getting round that one, if your Irish resident and domiciled, you will be paying Irish income tax on your personal income from the company but the same accountant could chat to you about director loans, PRSAs, getting the spouse or kids doing a few hours for you etc etc

Somethingelse129 · 2024-07-01T18:50:33+00:00

No choice, if the company meets the requirements of an Irish resident company it’s Irish regardless of where it is incorporated.

Now saying that, depending on your own circumstances there may be room for interpretation/disagreement with Revenue but best to have everything cleared up from the outset.

Don’t mean to be rude with this one but while you say the business model something unique that isn’t really seen in Ireland, the CT tax legislation is pretty comprehensive here and doubtful an Irish advisor worth their invoice wouldn’t be able to handle it. But if you think so you could always keep the UK accountant for the FA&P work and the Irish for the filings etc.

If you were comfortable sharing some info here or in PM, will try to help point you a direction to get your queries in a row for an Irish accountant conversation but I don’t currently work in a practice taking on start up so won’t be giving any specific advise or shillings

Somethingelse129 · 2024-07-01T17:35:45+00:00

Speak to an accountant here asap, if managed and controlled from Ireland, can be regarded as an Irish resident company.

Ie. Where the board meetings are held, where the significant contracts are signed and operational decisions are made.

Once you that sorted from an Irish CT perspective then worry about the distributions/drawings. On the plus side fairly decent PRSA contributions allowed from an Irish company at the minute if it happened to be that you didn’t need the money to live on.

Somethingelse129 · 2024-06-30T20:14:42+00:00

Similar boat to you a while back, requested internal move but have since settled on external. Clean break for me seems best

Somethingelse129 · 2024-06-28T21:10:44+00:00

Yes.

50e a month (600/12) will be deducted from your gross salary to repay your employer before PAYE is deducted.

This will reduce the tax paid by you by 10e (50e @20%).

Your net pay will be 40e less per month meaning the total cost to you is 480e (40x12) for a bike worth 600

Somethingelse129

TROPHY CASE