Royal Canal Financial Control Services

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Corporation Tax Exemption for New Start-Up Companies

Relief is available for new start up companies who are carrying on a new trade.

This is for new companies starting activity in 2011 and not trade that could be carried on in a current company or has been carried on in an old company.

The relief was available for all companies qualifying on their Corporation Tax payable in for the years 2009 and 2010 as per the Finance Act 2010. However there was a significant change in the Finance act 2011 which links the relief available to the amount of Employers PRSI paid in the year, capped at €5,000 per employee.

The following types of companies are not allowed to claim this relief as they cannot avail of de minimus State aid rules:

  • Activities in the fishery and aquaculture sector,
  • Primary production of agricultural products,
  • Processing and marketing of agricultural products,
  • Export-related activities,
  • Activities in the coal sector,
  • Road freight transport operations,
  • Undertakings in difficulty


Please click here for the link to Revenue’s website which further outlines the above and contains some good working examples.

However, please do not hesitate to contact us should you wish to discuss further.