ADS advices

Under Irish VAT legislation, the “Margin Scheme” aims to simplify and reduce the administrative burden and potential double taxation for dealers in second-hand goods, works of art, antiques, and collectibles. Instead of accounting for VAT on the full sales price of goods, the scheme allows VAT to be paid only on the difference (or margin) between the sales and purchase prices. This approach prevents dealers from facing VAT charges on the full value of items they resell, especially when VAT may have already been paid by a previous owner or in a prior transaction.

Categories Covered by the Margin Scheme:

Introduction

The Companies Act 2014 introduced a formal procedure for the voluntary strike-off of companies and clarified the steps for their restoration. There is now a simplified process for restoring companies regardless of the strike-off method.

In Ireland, the position of a company secretary is mandatory for all registered companies under the Companies Act 2014. The company secretary plays a crucial role in ensuring compliance with legal requirements and maintaining corporate governance. The primary duties and responsibilities of a company secretary include:

Key Duties

The Companies Registration Office (CRO) in Ireland plays a significant role in the corporate sector by regulating and maintaining a structured environment for businesses, ensuring legal standards and compliance. Here’s a more detailed look at its core functions and operations:

1. Registration of New Companies