The Reporting Requirements for your Limited Company

The PHAFitness Education Centre

Limited Company? Check out this article and understand your reporting requirements.

By Paul H

(This article relates specifically to limited companies, check out our separate article on sole-trader reporting requirements)

Company Registration Office

Annual return

All limited companies are required to file a B1 annual return with the CRO each year, giving details of the company’s address, officers and shareholders.

With the exception of the first annual return, due 6 months after incorporation, each B1 must be accompanied with a set of financial statements for the period in question.

Register of Beneficial Ownership

Details of the beneficial ownership of a company must be filed on the RBO database, along with any changes to this, which must be updated in a timely manner. 

Revenue Commissioners

Corporation Tax

Each company must file a corporation tax return each year, normally within 9 months of the company’s financial year end. This will include details of the company’s trading position for the year and relevant tax computation including any allowable and disallowable income and expenses. The current rate of corporation tax in Ireland is 12.5%.


VAT returns are normally filed every 2 months and include details of your vatable sales and expenses. The calculation is sent to Revenue along with any liability or details of a refund due – where your VAT liable expenses exceed your VAT liable income. While VAT can be complicated at the best of times this is exasperated in the health and fitness industry with a number of VAT rates in operation depending on the type of income you receive – classes, memberships, sale of good and apparel each attracting different rates.

At the end of each year you are required to file a Return of Trading Details (RTD) giving details of all sales and purchases during the year and their relevant VAT rates.

Payroll (formally P30)

If you are paying anyone, including yourself as a director, you are required to deduct, file details of and pay any income tax deductions due to be made against income on a monthly basis. The return is due each month but for some businesses depending on their size, they can make payments every 1, 3 or even 4 months. You are required to file a return each month with Revenue on or about the day of paying yourself and/or your staff.

Income tax

As an owner director of a company, aka proprietary director, you will be required to file an income tax return each year, normally before the end of October each year. This is a requirement even if all your income is covered through the payroll system above.

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