Corporation Tax (CT)
A close company is an Irish resident company that is controlled by five or fewer participators. This number can be higher if the participators are also directors.
A participator is somebody who has a share or interest in the capital or income of a company and includes a person who:
- has share capital, voting rights or loan capital in the company
- has rights to any company distributions
- can use company assets or income directly or indirectly for their benefit (This applies to present or future income and assets).
See Part 13 of Revenue's Tax and Duty Manuals for more information on close companies.
Next: Capital allowances and deductions