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Setting up online company - steps

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  • 06-01-2014 2:32pm
    #1
    les succulent ducks
    Registered Users Posts: 59 ✭✭


    Hello fellow boardites!!

    I am currently in full time employment and am currently setting up an online website to sell clothes etc. So technically I will have two incomes....

    I have my business / name registered with the CRO so that's done.

    I have the website completed and ready to set live so happy days.

    My questions are these:
    • How do I register for VAT
    • Do I register to be a sole trader or company. I presume sole trader?
    • Can I start off to "gauge a reaction" to the site and not register for VAT? See if it takes off?
    • Delivery - who is the cheapest?

    Also I am looking at paylesstax.ie. Are these good? Would these help me set up for vat etc? Complete solution?

    (This will be my second venture into owning my own business. But I'm hesitant in getting an accountant this time because of the fees. My accountant charged me €600 / year which I taught was very steep as I was only sending him about 3-4 invoices every two months. FYI I was a Freelance designer....)

    Thank you and good day.....
    Tagged:


Comments

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    #2
    smcgiff
    Closed Accounts Posts: 5,943 ✭✭✭smcgiff


    How much do you think you'll be turning over in the first year. You only need to register for VAT if over a threshold. This would be important if you were selling to Joe Public as you would be cheaper for them if you were not VAT registered as they cannot reclaim VAT.

    Also, it's important to note that it's possible, but by no means certain, that revenue consider your two operations when looking at the turnover threshold.

    Incorporation is a solution. But incorporation has its downsides also, such as being more expensive.


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