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PAYE employee & Sole Trader

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  • 22-11-2012 2:25pm
    #1
    Amanda7326
    Closed Accounts Posts: 75 ✭✭


    Hi All,

    I was given some advice that if you are a PAYE employee and starting up your own business then there is a certain time of the year that would be best for registering with the tax man.

    Does anybody know any more about this? I was told it can benefit you tax wise if its done at a certain time.

    I work full time and am just about to register my business, does anyone know if it would benefit me to do it in 2012 or 2013 as we are so close to christmas now i could wait if it would benefit me.

    Or maybe it wont make a difference not sure, would appreciate anyones feedback :D


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    #2
    Gloomtastic!
    Registered Users Posts: 8,488 ✭✭✭Gloomtastic!


    Tax year runs from 01 January to 31 December every year. Starting now means you'd file accounts in October/November 2013 showing six weeks trading. Unless you're experienced at accounts/tax returns then you'd be paying an accountant for nothing really.

    Wait 'til 01 January 2013 and you won't have to file accounts until Oct/Nov 2014 showing a full 12 months trading.

    Good luck to you!


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