Sole Trader or Limited Company? Setting Up Business in Ireland as an Expat with Paul Coffey (Part 1)
Taxbytes for ExpatsShow Notes
Are you moving to Ireland with an existing business, freelancing for the first time, or wondering if it’s time to incorporate a limited company? In this episode, I’m joined by Paul Coffey of Coffey Accounts—one of our go-to referral partners for freelancers and small business owners starting out (or levelling up) in Ireland. Paul and I unpack the practical side of becoming a sole trader in Ireland, what’s involved in setting up a limited company, and why choosing the right structure from the start can save you a world of hassle later. We also chat through common pitfalls, commercial realities (not just the tax stuff), and why sole tradership might make perfect sense—until it doesn’t. If you’re an expat or returning Irish passport holder thinking about working for yourself in Ireland, this episode will give you the clarity you need to take the next step. Part 2 coming soon, where we’ll get into director salaries, pensions, and planning for long-term growth. Main Topics discussed in this Episode: Sole Trader vs Limited Company: Paul explains the core differences between running a business as a sole trader and incorporating a limited company in Ireland. Setting Up as a Sole Trader in Ireland: They walk through the practical process of registering as a sole trader, what paperwork is involved, and why Ireland is considered relatively straightforward for getting started. Commercial vs Tax Considerations: Beyond the tax implications, Paul highlights real-world reasons clients might need a company structure. When and Why to Transition from Sole Trader to Limited Company: How and when a growing business might benefit from incorporation. Planning Ahead: Shareholding, Spouses, and Long-Term Strategy: Stephanie and Paul talk about the importance of thinking beyond the first year—considering shareholding arrangements, family involvement in the business, and future tax reliefs when setting up a company from day one.
Get in touch with Paul Coffey and mention the Podcast when you do! Email: [email protected] Phone: +353 086 074 0880 LinkedIn: https://www.linkedin.com/in/paul-coffey-05081535/ ***** If you loved this episode or have a similar story, we'd love to hear from you! You can get in touch with us directly at [email protected] or leave a rating and review on Apple Podcasts or Spotify. Taxbytes for Expats is brought to you by ExpatTaxes.ie. If you're considering moving to or from Ireland and would like support with your taxes, book a consultation today: https://expattaxes.ie/book-a-consult/?utm_source=podcast&utm_medium=CaptivateFM&utm_campaign=episode. Mentioned in this episode: Check out ExpatTaxes.ie to get your Tax sorted!
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This is a guest episode of "Ask About Wealth" where Stephanie Wickham talks about tax planning for expats with Paul Overy. To find out more, head to AskAboutWealth.ie. Tax planning for expats in Ireland can make a significant difference before an international move takes place. In this guest episode of Ask About Wealth, Stephanie Wickham explains how Irish tax residency, ordinary residence and domicile affect people leaving Ireland, returning home or moving here for the first time. She also discusses the remittance basis of taxation, Double Taxation Agreements, foreign income and investments, and why taking advice before relocating can help avoid unexpected Irish tax liabilities. About the Guest Stephanie Wickham is a Chartered Tax Adviser and Chartered Accountant and the founder of Expat Taxes. She specialises in Irish and international tax matters affecting expats, returning Irish emigrants and people with ongoing cross-border tax obligations. Her own experience of living in Australia for eight years before returning to Ireland also gives her a very practical understanding of what an international move involves beyond the tax return. LinkedIn: https://www.linkedin.com/in/stephanie-wickham-b4aba13b/ Website: https://expattaxes.ie/