Accountant Fees

Bitsie

Hi , I am looking to set up as a sole trader and basically want a consultation with an accountant to find out exactly what i need to do. I am based in North Dublin and wondered if anyone can give me an approx figure as to how much i would need to pay an accountant for a consultation?

Snowdrop

I run a bureau service and you should expect to pay somewhere in the region of €150 net. An accountant will probably charge more though. Having said that registering as a sole trader is very simple and you should be able to do everything yourself. There are basically only one or two steps:

1. Register a business name on www.cro.ie( not necessary if you are going to trade under your own name)
2. Download & fill in form TR1 from www.revenue.ie. This form also allows you to register for VAT and as an employer if applicable.

I would also advise that you register on www.ros.ie as a sole trader. Filing your returns online is the way to go.

You won't need to file any income tax return this year. Just keep good records of all your income & expenses in either a spreadsheet or on a computerised accounts package and it will make things a lot easier next year.

If you do register for VAT/Employer make sure you keep your returns up to date and you won't go far wrong.

A lot of people prefer to do their own accounts and it makes sense for a sole trader as it is essential that you know exactly how your business stands at any given time. In these situations a few hours training and assistance is usually invaluable once you are past the preliminaries and up & running. A half days training with a good book-keeper should you need it should not cost more than €150-€200

Legend100

I advise you to look around at different accountants in your area because a lot of smaller practices offer an initial free consultation service. This is obviously intended to bring in future business to their firm but it will give you an idea of what is expected of you as a sole trader in business

Snowdrop

Snowdrop wrote: »

I run a bureau service and you should expect to pay somewhere in the region of €150 net. An accountant will probably charge more though. Having said that registering as a sole trader is very simple and you should be able to do everything yourself. There are basically only one or two steps:

1. Register a business name on www.cro.ie( not necessary if you are going to trade under your own name)
2. Download & fill in form TR1 from www.revenue.ie. This form also allows you to register for VAT and as an employer if applicable.

I would also advise that you register on www.ros.ie as a sole trader. Filing your returns online is the way to go.

You won't need to file any income tax return this year. Just keep good records of all your income & expenses in either a spreadsheet or on a computerised accounts package and it will make things a lot easier next year.

If you do register for VAT/Employer make sure you keep your returns up to date and you won't go far wrong.

A lot of people prefer to do their own accounts and it makes sense for a sole trader as it is essential that you know exactly how your business stands at any given time. In these situations a few hours training and assistance is usually invaluable once you are past the preliminaries and up & running. A half days training with a good book-keeper should you need it should not cost more than €150-€200

Well said.