Tax relief for Start up Companies

May 23, 2012

Relief from Corporation Tax for new start-up companies for the first 3 years of trading was introduced in 2008. A qualifying new company who commenced to trade in 2009or 2010 with a Corporation Tax liability not exceeding €40,000 may have its Corporation Tax liability reduced to nil for those years in respect of profits attributable to the qualifying trade and to the disposal of assets used for the purposes of the new trade. In 2011, the relief was modified for all qualifying companies and extended to qualifying companies commencing to trade at any time up to 31 December 2014.

The relief may be available for new companies:

It is important to note that a qualifying trade does not include:

If you have any queries in regard to this relief or if you would like any additional information, please do not hesitate to contact Colm Browne or Mairead McNamara in the Tax Department.

OBI cannot accept any responsibility for loss or damage arising to any person as a result of acting or refraining from acting as a result of information contained in this article. Professional advice should always be sought before acting upon any matter in this article.