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Starting Up, do i have to register as self-employed?

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  • 13-10-2008 11:53am
    #1
    funky24
    Closed Accounts Posts: 4 ✭


    In the next week I hope to start selling Renewable Energy Products direct to Installers and householders. I currently have a full time job also. The difference between Wholesale price and retail price is mine to take home.

    Do I need to open up a 'business' bank account, or register for tax, or register as self-employed? I will be earning around 20,000euro from this per year, its only on the side to my main job.

    Any help would be appreciated!!


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    #2
    Snowdrop
    Closed Accounts Posts: 148 ✭✭Snowdrop


    You will need to register a business name with cro.ie if not trading under, your own name, register with revenue as a sole trader and register for VAT if your sales are likely to reach the threshold which is generally €75k in a 12 month period.

    It would be better to open a separate bank account for all your business transactions.


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