Director responsibilities in Ireland – How to ensure compliance
With the recent issues related to a national Irish sporting organisation it is timely we should discuss governance, director responsibilities and company/accounting structures.
It is very important that if you are a director that when it comes to sign off of company books/accounts that you completely review and understand the detail. If incorrect data is filed then you may be liable for this and may have issues with the CRO, Revenue or worse. It is behoven on you to to get everything right. You also need to ensure that any director expenses are correct and compliant. If not you run the risk of running foul of revenue. For these reasons as a contractor in Ireland using a Director Umbrella it is very very important that you understand that if you select a Limited company structure you do so compliantly. A personal Limited company is complaint. A Director Umbrella is not. It may lead to revenue and thus tax issues or may lead to Director strike off issues from the CRO.
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