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Paying tax

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  • 07-07-2015 4:19pm
    #1
    pmrozik
    Registered Users Posts: 52 ✭✭


    Hello All,

    I've registered with the CRO, currently working on the business but will not be launching until next month or so.

    Quick questions

    1. When am I legally obliged to register with the Tax Office? I have no income from the business at the moment.

    2. I have invested a bit of money into the business. Domain name, hosting, tools, etc. Can I take that into account when calculating my future taxes?

    Thanks in advance.


Comments

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    #2
    portcrap
    Registered Users Posts: 296 ✭✭portcrap


    pmrozik wrote: »
    Hello All,

    I've registered with the CRO, currently working on the business but will not be launching until next month or so.

    Quick questions

    1. When am I legally obliged to register with the Tax Office? I have no income from the business at the moment.

    2. I have invested a bit of money into the business. Domain name, hosting, tools, etc. Can I take that into account when calculating my future taxes?

    Thanks in advance.


    1. Register for VAT if you think you will trade above the thresholds, self assessment is not due till after the first year of trading, sign up with revenue online services (ROS) as soon as you can.

    2. Yes, keep a copy of all your expenses. If you are claiming back VAT only expenses after you are VAt registered will be taken into account.

    This is to the best of my knowledge :)


  • Options
    #3
    pedronomix
    Closed Accounts Posts: 997 ✭✭✭pedronomix


    Portcrap, if you know.. post a reply... the OP is looking for factual replies, not opinions. If you dont know, dont share the fact!!


  • Options
    #4
    pmrozik
    Registered Users Posts: 52 ✭✭pmrozik


    pedronomix wrote: »
    Portcrap, if you know.. post a reply... the OP is looking for factual replies, not opinions. If you dont know, dont share the fact!!

    Lots of guides out there, I'll just sit down and read when I find some time.


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