Frequently Asked Questions

Who are iContracting?

We are Chartered Accountants.

What do we do?

We serve you, the contractor. We look after all of your tax affairs and administration, payroll taxes and annual tax returns in the most tax efficient way for you for a fraction of the cost of setting up your own company and managing it yourself. We maximize your net take home pay. We free up your time to let you do what you do best while we do what we do best and save you taxes in the process.

We also see if you have already overpaid tax to date before taking up your new role.

What do we charge for the above service?

We charge a fixed tax allowable fee of €95 + vat with no hidden charges. Our fee is not % based.

Who do I deal with?

Peter O’Boyle is your contact. He will deal with all your account needs. It is that straightforward. Our strength is our simplicity. We offer you a very personalized service where your needs are our priority.

What do you need to do?

On the basis that we consider what is the most tax efficient structure for you on an individual case by case basis, you do not need to consider this. We do it automatically for you. If your contract changes, we automatically review your tax structure so that at all times you pay as little tax as possible.

All you need to do are the following:

  • You fulfill your role as contractor.
  • You complete your weekly timesheet and email this to us at
  • You complete our monthly business expenses form if you incur business expenses

We look after the rest by doing the following:

  • On receipt of your timesheet, iContracting will invoice the agency/company for your services + Vat.
  • On receipt of payment for this invoice from the agency/company into your umbrella company, payment is processed on the same day to your personal bank account for your net wage plus expenses incurred.
  • Payslips are emailed to you by iContracting, showing paye, prsi deducted.
  • Paye, prsi and health levies aswell as Vat are paid over to Revenue as required by legislation as appropriate on the P30 and Vat 3 returns.
  • At the end of the year iContracting prepare and submit your personal tax return as required
  • You have the flexibility to change job and contract and still use the limited company
  • We provide your company with all required insurances – employer’s and public liability
  • Should you wish to leave the company, you can do so and there is no termination fee.

So you wish us to provide you with this service, how does it work in detail?

  1. We sign up as your service provider through our standard terms and conditions letter and get you to complete a personal info sheet
  2. We obtain your previous P45 from you and check it for any overpayment of taxes to date as well as a signed company B10 form for your new company
  3. We contact your main contractor and provide them the details of your limited company details including Certificate of Incorporation, Bank account details, Vat registration no. etc.
  4. We contact Revenue to switch your tax credits and register your new employment. We will also check with you that you are claiming all your tax credits
  5. We will take a look at taxes deducted from your old employment to ensure you have not already been overtaxed.

What detailed work do we have to do on your behalf:

  1. We complete your vat returns
  2. We complete your payroll monthly P30 and annual P35 returns
  3. We complete your annual income tax returns
  4. We complete the company’s Revenue tax returns
  5. We complete the Companies office annual return
  6. We invoice the client or recruitment agency based on your timesheets
  7. We organize the structure in such a way as to maximize your take home pay without you having to worry about any of the above returns
  8. We deal with all company matters and queries that may arise and deal with all 3rd party enquiries including Revenue, CRO, Central Statistics Office, Bank, NERA, CIF, Department of Enterprise and Employment, etc

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