Sole Trader – Now What?
A practical guide explaining how taxes work for your Sole Trader business in Ireland, and our tips on how to manage it with ease
Now that you've set up as a Sole Trader (or are thinking about setting up as one), not sure what happens next?
This easy-to-read guide sets out how to manage your tax obligations now that you're self-employed, answering the most frequently asked questions I see new business owners ask:
- When do I have to start paying tax as a sole trader?
- Do I have to file a tax return if I don't make a profit?
- When is my first tax return due?
- What type of tax return do I need to file?
- Can I file it myself or do I need an accountant?
- How much tax will I have to pay?
- What expenses can I claim for tax?
- Do I need a business bank account?
- What records do I have to keep?
- What about VAT?
- What about payroll?
The guide also includes a few case studies to show how it works in real life, together with a handy checklist at the back.
p.s. the cost of this guide is tax-deductible!