Forti · Founder Knowledge Hub

Real Questions Founders Ask Their Accountant

Practical answers to the tax, bShort, general answers for common founder questions. For real client enquiries in depth, see Browse All Questions above.ookkeeping and compliance challenges Irish and international founders face every week.

Updated by the Forti team as new enquiries arrive.

Updated Weekly Irish & International Expertise Revenue & CRO Focused Founder Friendly Answers

Featured Insights

Popular Questions This Week

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VAT & Tax

Holding Stock in Ireland?

Will VAT registration be needed if I keep goods in Ireland?

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International

Irish Subsidiary Setup

How US companies set up an Irish subsidiary to expand operations in Europe.

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Bookkeeping

Xero & Compliance

Should I switch if my books are already in Xero?

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Formation

Section 137 Explained

What it is, when you need it, and how it protects your Irish company.

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VAT & Tax

VAT Reverse Charge

When it applies and how Irish companies account for it.

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Closure

Company Closure

Members' Voluntary Liquidation (MVL) and when it's the right route.

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Bookkeeping
Do I still need an accountant if my books are already in Xero?
"Xero is your dashboard. Your accountant is your mechanic. Your books need both to stay compliant with Revenue and the CRO."
Formation Pre-launch
How do I start a company in Ireland?
International Pre-launch
How do UK founders set up an Irish company for EU expansion?
VAT & Tax Early stage
What turnover means a company must register for VAT in Ireland?
Compliance Scaling
What should I include in annual compliance for an Irish founder?
CoSec
What does a company secretary actually do?
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Calculate Your CRO Filing Risk

The Escalation Timeline

  • On timeNo penalty. Audit exemption protected.
  • Day 1 late — ~€100Automatic CRO late filing fee applies immediately.
  • Daily — +€3 per dayAccrues until filed, capped at €1,200.
  • The audit trapOne late filing loses audit exemption for two years — €4,000–€6,000 extra per year.
  • Involuntary strike-offCompany removed from the Register. Limited liability protection ends.

Quick Answers

Frequently Asked Questions

Short, general answers for common founder questions. For real client enquiries in depth, see Browse All Questions above.

View all 100+ FAQs →

A sole trader is taxed personally and has no separation between business and personal liability. A limited company is a separate legal entity, offering limited liability but with more filing obligations (CRO, CT1, statutory accounts).

CRO incorporation typically takes 3–5 working days once the application is filed correctly. Revenue registrations (CT, VAT, PAYE) can add another 1–2 weeks on top.

No, but the company must have at least one EEA-resident director, or a Section 137 bond in place if none is available.

Registration depends on projected turnover and whether you're supplying goods or services — thresholds differ for each, and non-established businesses (e.g. holding stock in Ireland) may need to register regardless of turnover.

A late filing fee applies immediately and accrues daily up to a cap, and audit exemption is lost for the following two filing cycles. Use the calculator above to estimate your exposure.

Yes — there's no nationality or residency requirement to be a shareholder, and directorship is possible subject to the EEA-resident-director rule above.

Free Founder Compliance Toolkit

Free Templates for Running an Irish Company Properly

Board minutes, compliance calendars, expense trackers and more — 17 practical documents every Irish company needs at some point, free to download and adapt for your own business.

Browse the full Templates Library →
ACCA-Regulated Dublin-Based Team Free Downloads No Sign-Up Pressure
5 Templates

Company Formation & Governance

  • Board Minutes Template
  • Shareholder Resolution Template
  • +3 more — AGM/EGM Notice, Register of Directors & Secretaries, Internal Beneficial Ownership Register
Download the Governance Bundle →
4 Templates

Compliance & Company Closure

  • Annual Compliance Calendar
  • Voluntary Strike-Off Checklist
  • +2 more — Dormant Company Board Minute, Director's Loan Account Tracker
Download the Compliance Bundle →
4 Templates

Finance & Bookkeeping

  • Simple Invoice Template
  • Monthly Cash Flow Forecast
  • +2 more — Budget vs. Actual Tracker, Expense & Receipt Log
Download the Finance Bundle →
4 Templates

Payroll & HR

  • New Hire Checklist
  • True Cost of a Hire Calculator
  • +2 more — Employee Onboarding Checklist, Expense Claim Form
Download the Payroll Bundle →

Explore the Full Templates Library

All 17 templates, organised by category — free to download individually, no sign-up pressure, no sales calls.

Browse All Templates → No spam. Templates are for general guidance only and don't constitute legal or tax advice.

Why Forti

Why Founders Choose Forti

Fast Track Formation

Start your company quickly with our proven process.

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One Team

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