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00 353 1 8077106 info@iconaccounting.ie

Personal Limited Company

What is a Personal Limited Company

A personal limited company is a company owned by you, giving you legal protection against any personal liability while contracting. Unlike an Umbrella Company, you fully own the company.

Setting up a Personal Limited Company is most suitable to long term contractors who wish to establish a company in their own name or for professionals who wish to pursue other related business interests outside of their daily rate contract that have multiple sources of income.

Why choose a Personal Limited Company?

Payment of Class S PRSI contributions

Tax efficient

Self-employed status

Claim tax relief on business expenses to
increase your take home pay
Greater flexibility to manage and control accounts
when compared to an Umbrella Company
24/7 secure access to your personal
account on iConnect

Unlimited access to free Wealth Management advise with our partner, Rockwell Financial and the Icon Accounting benefits package

Direct Access to Qualified Accountants for all PLC related matters

What Is Icon Advantage?

Icon Advantage is a solution that has been specially designed by Icon Accounting for Professional Contractors who choose to contract through their own Personal Ltd Company. Icon Advantage equips Contractors with 24/7 access to an award winning online accounting software package alongside the assistance and experience of a personal accountant.

Advantage Plus

€175
(+VAT) per month

Online Accounts
Dedicated Accountant
Invoicing
Preparation of VAT
Monthly Payroll
Annual Accounting & Tax

 

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Advantage Annual

€1100
(+VAT) per annum

Optional Online Accounts
Dedicated Accountant
Annual Accounting & Tax
.
.
.

 

 

SIGN UP

How does Icon Advantage work?

1

Icon Advantage will incorporate your Personal Limited Company with Companies Registration Office. Our express service enables documents to be realised for signing within 3-4 days from the application date.

2

A fee of €229 + VAT applies for incorporation of the Personal Limited Company. Our services also include the registration of your Personal Limited Company for all taxes, inclusive of PAYE, VAT and Corporation Tax.

3

A separate bank account is also required for the Personal Limited Companies. As a customers of Icon Advantage, Personal Limited Companies who wish to set up their business bank account with Ulster Bank can benefit of 2 years free banking.

4

On Completion of the set-up of each Personal Limited Company, our team will engage with each Contractors recruitment agency and/or company to ensure the submission of all company details for payment

5

Your Personal Limited Company is now ready! Invoices can now be raised and payments can now be received into your Personal Limited Company!

For more information, please email info@iconaccounting.ie or call our PLC team on 01-8077106

How do I access my Icon Advantage Account?

The Icon Advantage is powered by the award winning accounting software, Kashflow, allowing each contractor clear visibility and access to all information relating to their own Personal Limited Company’s trading activities, including invoices and expenses. Personalised access to the Icon Advantage Online Accounting system will be provided to each contractor.

Contractors with Icon Advantage also benefit from free access to I-Connect. I-Connect is a tailored, online portal, specially designed for contractors to easily manage and view timesheets, expenses and all documents associated with contract positions. Icon Advantage and I-Connect are supported with the professional experience and assistance of our team of qualified accountants.

With Icon Advantage, your designated accountant will ensure the efficient management of all payment, accounting and tax affairs and will directly liaise with each contractor to ensure compliance with all regulatory requirements inclusive on invoicing, payroll and taxes.

What paperwork do I
need to provide to set
up under the Personal
Limited Company?

  • Copy of Photo ID for both Directors (Passport OR Driving Licence)
  • Proof of Address for both Directors
  • Copy of Utility Bill OR Lease OR Official Correspondence
  • P45 (if worked this year)
  • For Non EU Citizens, copy of work permit/visa
  • Please note Stamp 4 visa is the minimum requirement