Company registered address question

Cantab.

I hope someone on here can help me with this one.

I'm 25 and don't own the property I live in (I'm a tenant). Can I register my company address at the same address that I currently live at?

I work 9-5 so what happens if I get a call from the tax inspector and I'm not there? Do I need to make allowances so they can enter my room and go through my accounts when I'm not at home?

Would I need to ask permission of my landlord? Do you need planning permission to run a business from a residential address? My area is in electronic systems design and therefore is very officey - i.e. lots of computers and books (no machinery required!)

lomb

Cantab. wrote:

Can I register my company address at the same address that I currently live at?

why not?u can always change the address later. there is no planning needed for working from home, i wouldnt worry too much.

what will your new business be doing out of interest?

zappb

Cantab of course you can use your own apartment. A tax inspector won't simply drop by with out notice - unless your registering for VAT and want to inspect your place of business.

What are you doing? Mostly the IT guys that set up their own company work at other locations - but claim a certain percentage of expenses of their apartment toward the business - if they have a work station set up - and work from home, they may clain 33% of the Rent, phone, light & heat etc... depending on the floor space used.

I set up companies and register companies for tax regularly, if you need any additional help throw us an email at paul@nolanassociates.ie

PixelTrawler

Hi Zappb

Just the kind of advice im looking for. Doing a little bit of work on the side - websites - and basically looking for the idiots guide to getting set up as a Sole Trader...

Is it
1. Fill in the TR1 form
2. Register with CRO
3. Get an accountant...

Any info would be much appreciated...

MartMax

registered address is normally where the statutory records of the company made available for public or authority request.

business address is where you operate the business as well as where the books and records are maintained.

i don't think Revenue guys will just jump in to make inspection. they probably give early notification or prompt you in advance. i might be wrong but that's a normal practice.

mart

zappb

Hi Joe,

Sorry for not getting back to you sooner,

You have it bang on, Register for Income Tax with the TR1 form (the TR2 form is for companies tax registration) and VAT, if you think your turnover is in excess of €27,500 for persons supplying services or €55,000 for persons supplying goods or is going to be in any 12 month period. If your going to employ somebody you need to register for PAYE as well.

Vat often is not so simple to register for (apart from the completion of the form which is pretty straight forward) there are other aspects of the registration which the Revenue look into before accepting the application.

Main Criteria include location of the business, and may ask for proof such as purchase invoices, projections as to why you think you need to register for VAT, - unless the applicant can give answers to all the questions (not necessarily all questions on the form) the registration will remain pending until Revenue are satisfied with all aspects of the application.

I've had one Vat registration that dragged on for 5 months so try and sort this area out well in advance. you can read up on VAT here, http://www.revenue.ie/revguide/vat.htm

If your going to trade under a business name you've got to register that with the Companies Office, You need the RBN1 Form to register as an individual, and here's the link with the info,

http://www.cro.ie/template_generic.asp?ID=411&Level1=1&Level2=2&Level3=1&Level4=0&Level5=0

Step 3: Find an accountant,

You've found one, and if you need advice on what happens next, send me a quick email (address above).

We quote up front, so you know how much it costs and whats involved in advance and can ring around for comparisons, are centrally located in Capel street on the Luas Tracks. If you would like a meeting to discuss your business, the consultation is free, and we can organise video meetings over Skype if you can't make it into the city centre.

Another wonderful resource is www.fixmytax.com and i'll recommend it although they are our competitors, they have a great website (ours isn't ready yet) which can answer a lot of your questions.

Take it easy,
Paul.