Recently updated on 14 May 2020 at 2 pm Over the last couple of weeks since COVID-19 pandemic started, the Government announced many forms of support for small businesses and employees in Ireland. We are monitoring the situation and posting updates on our website regularly. Below you can find our guidance on what forms of …
In my previous post I talked about the first 3 things you need to know if you want go out on your own and set up a private limited company. Let’s continue with the next 4. Here is Part 2 of the series: 4. Taxation of company profits and your income As a sole trader you …
7 Things You Need To Know To Start A Business As A Limited Company (Part 2) Read More »
As I mentioned in my previous post, there are two most popular legal forms of trading in Ireland – a sole trader and a private limited company. In the previous 2 part serious you can read about 7 things you need to know to start a business as a sole trader (Part 1 and Part …
7 Things You Need To Know To Start A Business As A Limited Company (Part 1) Read More »
In my previous post I highlighted the first 3 things you need to know if you want to start a business as a sole trader. Let’s continue with the next 4. Here is Part 2 of the series: 4. Personal liability for business debts Apart from the income tax matters, there are also serious personal …
7 Things You Need To Know To Start A Business As A Sole Trader (Part 2) Read More »
Perhaps you are thinking about becoming your own boss and starting a business in Ireland. There are two most popular legal forms of trading – either a sole trader or a private limited company. The vast majority of entrepreneurs would start as sole traders. This is the quickest and easiest way to get your business …
7 Things You Need To Know To Start A Business As A Sole Trader (Part 1) Read More »
If you are a self-employed person, in other words a sole trader, most probably you already know that you need to file your annual income tax return. However, this is not the only case when an income tax return has to be prepared and filed. What actually is an income tax return? In simple words, …
If you are already trading, you are probably wondering if you have to register for VAT. As a general rule, you have to register for VAT in Ireland if you supply goods or services in the country and you exceed the annual turnover thresholds. However, you can do so voluntarily even if you don’t reach …
If you are a small business owner you are probably wondering if you can employ your family members. The answer is YES. It is actually quite common for small family businesses to use help and support of their spouses, children or other family members. However, there are some conditions that need to be satisfied for …
If you have decided to start a business, you are probably incurring expenses which are necessary to prepare for trading. They are called pre start-up expenses and the majority of them will qualify as trading expenditure. You can claim pre start-up expenses incurred in the three year period prior to the commencement of the trade. However, …
If you are planning to start your own business you are probably wondering about the best legal form. Is it a sole trader or a private limited company? Both legal forms have advantages and drawbacks and the choice will depend on your individual situation and future business strategies. The most important differences If you are trading …