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Starting as a gardener/sole trader.

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  • 31-03-2006 9:09am
    #1
    Tuser
    Closed Accounts Posts: 16 ✭


    Hi im going working for myself as a gardener for the next months. Anyone out there ever do this? Is there much red tape or is it just a case of registering a name and then keeping your books in order. Would love to hear from anyone with experience, thanks...


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    #2
    fatboypee
    Registered Users Posts: 958 ✭✭✭fatboypee


    Tuser wrote:
    Hi im going working for myself as a gardener for the next months. Anyone out there ever do this? Is there much red tape or is it just a case of registering a name and then keeping your books in order. Would love to hear from anyone with experience, thanks...

    I know nothing about being a gardener (wife does the lawn even :) ) but as a sole trader it all depends on how you see your company / trade progressing.

    I have a sole trader account with the revenue and do my own accounts as my revenue is intentionally below the VAT level (Not sure what it is currently but I think its about 35k for the year but don't quote me).

    If you intend this as a full time career with lots of contracts then its probably best to register for VAT and by far the best thing is to consult an accountant about setting up your own limited company (can do this after starting as a sole trader), you will then need to keep a log of invoices, separate the payable VAT and present your accounts to your accountant for end of year & VAT processing. The benefits of sole trader / VAT is that you can offest lots of stuff against expenses (accountant will give you a full list), these include travel, subsistence, machinery needed for your trade etc etc..

    Fatboy..


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    #3
    Apip99
    Closed Accounts Posts: 598 ✭✭✭Apip99


    Tuser wrote:
    Hi im going working for myself as a gardener for the next months. Anyone out there ever do this? Is there much red tape or is it just a case of registering a name and then keeping your books in order. Would love to hear from anyone with experience, thanks...

    Hi Tuser,

    Out of intrest you say that you are going to be doing this just for a few months. Is it just a tempoary thing for you, or are you 'testing the water' so to speak?

    Regards,

    Pip


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    #4
    Tuser
    Closed Accounts Posts: 16 ✭Tuser


    Thanks fatboy, and to answer the other question, yes i entend to do this for the rest of this year and then review the situation. I have a few summers experience working as a landscaper but this is the first time ill be doing it fulltime. anyone else got any sole trader info?


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    #5
    Reyman
    Registered Users Posts: 1,297 ✭✭✭Reyman


    Your income will probably be below the VAT threshold (E35K?) initially. If it isn't and you have to register VAT and charge VAT on jobs you could have a problem.

    The gardening busness is full of part-timers who don't pay VAT or income tax or any other kind of tax. So if you have to increase your bills by 21% to pay the VAT man you probably won't get much business. Paying income tax honestly will also act against you as this is a 'cash' business and again you may lose out

    I.E you may not be competitive.


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    #6
    rooferPete
    Registered Users Posts: 1,497 ✭✭✭rooferPete


    Hi Tuser,

    Reyman has a point about the cash business, take care though tax evasion is no longer seen as a victim less crime and the penalties are very painful on the pocket.

    If you hope to land any contracts with property management companies you will have to be registered, they certainly will not try to cover for you.

    Limited liability does give you some protection, the down side is the accounting costs can be higher.

    If you are giving this business a trial run then register you only pay tax on your profit, get a good book keeper to demonstrate how to keep efficient books.

    Assuming you will be hiring equipment remember the hire bills are a 100% tax write off, diesel for your van is both vat refundable and a write off, advertising, business cards........you name it unless it has capitol value you get a write off.

    A word of advice, it can take two years for any services based business to start paying, so if you are serious about this as a business and not just a sideline then register and keep every scrap of paper.

    BTW you can trade as xyz moonscapes and when the figures look like they are no longer in your favour you can trade as zyx moonscapes ;)

    Seriously meet up with an accountant there are a few who give good advice around Boards.

    .


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