Sole trador - pulling out before started but registered

Vanessa2003

Hi there
Help needed
I was without job for some time now got idea of setting sole trador buisnises (wasn't prepered)
Got accounted who registerd me recently but I did t open shop yet as I was not ready or counted good .
Bought inventory for shop as Bookshelvings, cash register, few more things for shop, found place to rent , but had problems with lend lord as he ask more money then we agreed so I refused to sign contract!!
And now when I read my expenses book I am allready Down 4000€ + rent would cost 5000 € for year + electricity + insurance + stuff to sell that I (thankfully ) did t buy yet and I live in smal town so now when I woke up from dream I decided better to pull out before get my self to bigger problems!!
How hard or what procedure I have to do to cease my soletrador registration with revenue
Ps
Hope you understand my question as English is not my first language and please if somone could help out without telling me get a legal help

Thank you

Graham

I'd recommend speaking to your accountant, he may have some ingenious way that you can offset your losses as a sole traders against any future PAYE tax.

Vanessa2003

Graham wrote: »

I'd recommend speaking to your accountant, he may have some ingenious way that you can offset your losses as a sole traders against any future PAYE tax.

Thanks for answer but I don't think you get me!
I was about to open shop I don't complain on whatever I already spent as I could use it at my home or elsewhere , I just get register recently and still did not start to trade as waited for my Landlord to be ready for lease , but as he tried to play me I don t see point and wanna pull out , so would it be hard to pull out from sole trader business which I didn't open yet but am registered

Ps
I am stupid I know
Thanks

antoinolachtnai

Youi aren't stupid. Stupid would be going on with something which you knew wasn't going to work.

It is really a good idea to get an accountant. He will probably not charge you very much, or maybe anything to sort this out. The accountant will be helpful too, when you go to start a business again in the future.

If you really don't want to get an accountant, just ring Revenue and tell them the situation. They will tell you what to do.

As long as you don't owe them anything, there won't be any problem.

You might have to put in a tax form for 2014 stating that you didn't earn any money. If you have a loss, you can show that, and it may allow you to get a reduction in tax at some point in the future. But you might need to talk to the accountant to sort this out.

Vanessa2003

antoinolachtnai wrote: »

Youi aren't stupid. Stupid would be going on with something which you knew wasn't going to work.

It is really a good idea to get an accountant. He will probably not charge you very much, or maybe anything to sort this out. The accountant will be helpful too, when you go to start a business again in the future.

If you really don't want to get an accountant, just ring Revenue and tell them the situation. They will tell you what to do.

As long as you don't owe them anything, there won't be any problem.

You might have to put in a tax form for 2014 stating that you didn't earn any money. If you have a loss, you can show that, and it may allow you to get a reduction in tax at some point in the future. But you might need to talk to the accountant to sort this out.

THANK YOU

Buttercake

A copy of the form TRCN1 can be found on www.revenue.ie

on CRO.ie > CORE > Cessation of Business form RBN3

Vanessa2003

Never registered With CRO.
Sent RBN 3 form registered attached with their original letter and left copies for me in case!
But after two weeks still no replay from revenue , should I just leave it or should I get replay .
Thank you

Vanessa2003

Vanessa2003 wrote: »

Never registered With CRO.
Sent RBN 3 form registered attached with their original letter and left copies for me in case!
But after two weeks still no replay from revenue , should I just leave it or should I get replay .
Thank you

Bump

Should I go to revenue myself ?

Thanks

Graham

Vanessa2003 wrote: »

Bump

Should I go to revenue myself ?

Thanks

Did you phone revenue and ask?

barneystinson

Vanessa2003 wrote: »

Bump

Should I go to revenue myself ?

Thanks

Have you sent them the form?

If so, you might be waiting 4-6weeks.

You could try ringing to confirm they have it and will be processing it.

Vanessa2003

Graham wrote: »

Did you phone revenue and ask?

I tried but automated phone does not allow me to speak with anyone , except tellin me their open hours are from 10am to 1 pm

Vanessa2003

barneystinson wrote: »

Have you sent them the form?

If so, you might be waiting 4-6weeks.

You could try ringing to confirm they have it and will be processing it.

Yes I send Form witch was hard to fill completely as I never start training , but I did best job I could + attached copy of their letter confirming me as trador + attached separate letter explaining what happened , sent it all in one envelope registered , and left copies for myself !
It has been a while so I just wonder I leave it like that because no answer or
Drive down to my local tax office (revenue )
Thank You