Trying to register my business for tax??

macca.86

Hey Guys. I've decided to start my own small business. I really need to register for tax but have no idea how to do it! Can anyone help me? Is there different steps to go through for a large/small business? Please help as I'm becoming soo stressed over this :eek:

R3al

Your first stop should be the revenue website, they have leaflets and advice on all aspects of vat & taxation if you are starting a new business, there are also several good "starting a business" websites out there

try

http://www.revenue.ie/en/tax/index.html

unnameduser

It is always a good idea to speak to an accountant. Ask around and get yourself a good affordable accountant from whom you can get good advice.

dbran

Hi

You need to go to revenue.ie and do a search for a TR1 form if you are a sole trader or a tr2 form if you are a limited company.

If you get stressed over these thnigs then you should also go and speak to an accountant.:)

Kind Regards

dbran

macca.86

Thanks so much everyone. I'm going to get myself an accountant

TylerIE

Slightly late reply but some VECs and many County Enterprise Boards run a "Registering for Tax" style course for small businesses. It usually only costs less than €50 and gives you a bit of a networking opportunity. Occasionally it may be run by an accountant or they may have an associated accountant for a "site visit".

smcgiff

lst wrote: »

It usually only costs less than €50 ...

€50 for this :eek:

TylerIE

smcgiff wrote: »

€50 for this :eek:

Good or bad value?

Edit: IIRC The VAT one was €25, including you filling in your forms during the course!!!

I checked and our local Enterprise Board is doing that course this term, over 12 hours.

Further Edit: As is Dublin City Enterprise Board, except theirs is €30 for a half day course.

Brief Programme Description
The session will address the basis tax issues that arise for individuals operating as a soletrader or a company. It will also address the issue of self-assessment and submitting returns, reading accounts and assessing the financial health of your business. The trainer will also make time for a “Small Business Check-Up” whereby the participants can take time to ascertain if their current business systems meet tax obligations. The trainer will also provide “Prescriptions” which will ensure participants are made aware of ways in which they can best manage the tax affairs of their business.
Aims of the Programme
The session will also ensure participants gain all the information they need on any key agencies involved, the processes involved in dealing with such agencies and the steps they should be taking to ensure that they are managing their businesses in a legal manner.
Content
Topics covered:
Reporting requirements of limited companies, sole traders and partnerships
The Self-Assessment system
Preliminary Tax – What & When to Pay
Capital Allowances/chargeable gains
The PRSI System
The completion of an Income Tax return
Personal Allowances and Rate Bands
Tax and PRSI Liability
The VAT System - Calculating VAT and preparing VAT returns (The trainer will provide blank VAT Forms and facilitate a point by point explanation)
Important Dates – Trainer will distribute a Checklist
Contact Details of Key Agencies
Outcomes
Capability of registering for Taxation
Capability to complete monthly/bi-monthly/quarterly/annual vat returns
Knowledge of the Income Tax System and completion of Income Tax Return
Knowledge of who/when and how to contact Revenue

smcgiff

Cheap for the above, but I thought you meant it was €50 just to tell you how to register for Tax.