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Sole Trader

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  • 12-12-2013 5:22pm
    #1
    Aye Bosun
    Registered Users Posts: 349 ✭✭


    Looking for some advise..I registered a company name this year as a Sole trader but I have not completed any business.
    Do I still need to file a tax return for the year under this company name even thought there has been no trading under it?


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    #2
    srsly78
    Registered Users Posts: 7,157 ✭✭✭srsly78


    Registering a business name does not mean starting a business.

    Did you register as a self-employed person?


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    #3
    Aye Bosun
    Registered Users Posts: 349 ✭✭Aye Bosun


    I register the name as a sole trader. I am also a PAYE employee.


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    #4
    srsly78
    Registered Users Posts: 7,157 ✭✭✭srsly78


    Registering a name just registers a name - it does not make you self-employed.

    Read this: http://www.revenue.ie/en/tax/it/leaflets/it10.html#section2

    Did you file a form TR1 with Revenue?


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    #5
    Peterdalkey
    Closed Accounts Posts: 2,091 ✭✭✭Peterdalkey


    Aye Bosun wrote: »
    Looking for some advise..I registered a company name this year as a Sole trader but I have not completed any business.
    Do I still need to file a tax return for the year under this company name even thought there has been no trading under it?


    Short answer, as long as you have not traded, you do not need to do anything!


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    #6
    Aye Bosun
    Registered Users Posts: 349 ✭✭Aye Bosun


    Thanks PeterDalkey, that's all I needed to know :)


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    #7
    lakill Farm
    Registered Users Posts: 4,735 ✭✭✭lakill Farm


    Peterdalkey wrote: »
    Short answer, as long as you have not traded, you do not need to do anything!

    I would disagree with the above statement.

    If you registered as self employed (TR1) you have to file a form 11 tax return. If you traded or not, profit or loss.

    registering a business name with CRO and registering as self employed in conjuction with revenue are both seperate areas.


    So you need to call your local tax office and ask them are you oblieged to file a form 11 tax return


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    #8
    Peterdalkey
    Closed Accounts Posts: 2,091 ✭✭✭Peterdalkey


    lakill Farm wrote: »
    I would disagree with the above statement.

    If you registered as self employed (TR1) you have to file a form 11 tax return. If you traded or not, profit or loss.

    registering a business name with CRO and registering as self employed in conjuction with revenue are both seperate areas.


    So you need to call your local tax office and ask them are you oblieged to file a form 11 tax return

    I would disagree with the above staement as the OP only disclosed that he had registered a business name.
    If he is already a Paye employee, he will be filling in tthe lack of activity on his normal return. Again we do not know if he is.


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