Sole trader registration - Irish SEO, Marketing & Webmaster Discussion

TheMenace · #1 (**permalink**) 30-07-2007, 11:38 PM

Is it necessary to register as a sole trader or do you just need to register for tax with the Revenue?

blacknight · #2 (**permalink**) 31-07-2007, 01:07 AM

If you are trading as yourself ie. your given name you only have to worry about tax etc.,

I'd strongly recommend you take an accountant out for a few beers

TheMenace · #3 (**permalink**) 31-07-2007, 05:58 AM

I can do that. My flatmate's a qualfied accountant as are quite a few of my mates so I'm in a good position there! Cheers.

hosting365 · #4 (**permalink**) 31-07-2007, 07:12 AM

You need to register for VAT if you get over certain limits (25k euro methinks), otherwise, it's best to keep a seperate 'business' bank account, even as a sole trader, otherwise the accounts can get very messy very fast. Keep receipts, etc, for business expenses and such also.

If you want to trade under a name other than your own name, registering a business name at Companies Registration Office will cost you thirty euro, otherwise, registering a limited company is the best route - it gives you excellent protection, but also comes with a little more work (and annual accountancy costs).

TheMenace · #5 (**permalink**) 31-07-2007, 07:32 AM

Quote:

Originally Posted by hosting365

You need to register for VAT if you get over certain limits (25k euro methinks), otherwise, it's best to keep a seperate 'business' bank account, even as a sole trader, otherwise the accounts can get very messy very fast. Keep receipts, etc, for business expenses and such also.

If you want to trade under a name other than your own name, registering a business name at Companies Registration Office will cost you thirty euro, otherwise, registering a limited company is the best route - it gives you excellent protection, but also comes with a little more work (and annual accountancy costs).

Thanks for the info. As it happens I've already got a Ltd company registered for other purposes so I've been through that whole rigmarole before; I was just unsure as to the specific of how much red tape was involved in setting up as a sole trader. If I only need to register for VAT, then that's great!

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