Sole trader registration

[TheMenace]

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

 

[mneylon]

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]

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]

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]

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!