Icon Accounting - Accounting company in Ireland

Are you a seasoned contractor contemplating the next phase of your career? As a contractor with valuable skills and experience, establishing your own Personal Limited Company opens doors to personal and professional growth. Making the decision to set up your personal limited company is an investment in your future. This transition allows you to take charge of your career trajectory and shape it according to your aspirations. In this blog post, we'll guide you through the process of setting up your personal limited company, shedding light on the benefits that come with this strategic switch. The Transition from One Project Contractor to Building Your Own Independent Business Why Consider the Shift? Flexibility and Autonomy : Imagine having complete control over your business income, allowing you the flexibility to receive funds even during breaks from contract work. By opting for a lower monthly salary and storing income in your company account, you can take breaks, s...

In a world that is constantly evolving, the pursuit of self-employment and the opportunity to be your own boss have become more enticing than ever. The traditional career landscape is shifting, and the entrepreneurial spirit is soaring. If you've ever considered taking the leap into self-employment, now is the perfect time to do so. This blog piece will delve into why this is the case and explore the numerous benefits of being your own boss. Why Now Is the Perfect Time to Pursue Self-Employment Changing Work Landscape:  The past decade has witnessed a remarkable transformation in the way we work. Globalization, technological advancements, and shifting attitudes toward workforce policies have given rise to the prominence of contracting. Companies and professionals are increasingly turning to this model for its flexibility, access to specialized talent, and diverse project opportunities. In Ireland, the gig economy is flourishing across various industries, making it easier ...

As spooky season descends upon us here at Icon Accounting, we're tackling some of the spine-tingling challenges you might think you'll encounter in your career or contracting journey. Here's why you can cast aside your fears about these myths as a contractor! Myth 1: Contractors Don't Retain Social Welfare Benefits Some candidates starting their contracting journey may think that changes to their tax rates and operating as self-employed means they won’t make contributions to social welfare benefits. However, that's simply not the case. Opting for a PAYE Umbrella Company structure can ensure that you retain your Class A PRSI contributions and your normal social welfare contributions. Alternatively, if you do decide to pay Class S PRSI, there have been significant advancements in welfare entitlements for Contractors and it will mean you continue to make contributions to the jobseeker benefit, the state pension, and parental benefits too. Starting from the las...