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questions about becoming self employed

  • 08-03-2007 11:02am
    #1
    kcphoto
    Closed Accounts Posts: 97 ✭✭


    Hi,

    Some of you out there might be able to advise me on becoming self employed.

    I 'm leaving my current job soon to become a self employed IT support person (totally freelance and not contracted to a specific company).
    I'm giving myself a trial period of 3/4 months to see if it works out to plans.
    I will not be selling any goods, just service on an hourly rate.

    I know that I need to register for VAT if I will turnover more than €25k and that I need to register with the revenue as self employed.

    My questions really are
    1. As I don't know yet what my turnover will be (but would hope it will exceed 25k), do I have to register for VAT immediately or can I do this during the year ? Also should I be be charging customers VAT from the start?
    2. I hope to start earning asap, so if i keep track of earnings and expenses, can I register with the revenue later in the year or should I do it immediately.
    3. I also heard that you should register with the Dept of Family and welfare regarding PRSI...is this advisable?
    4. What should I have in place when I start, or can I get started and sort all this out afterwards.

    My girlfriend is a dance teacher and went out on her own a few years back. She went to an accountant after a few months and they seem to have sorted all her affairs out.However they don't seem very good at answering her simple questions on PRSI etc.
    I do intend to go to an accountant when I can afford it and when I have got some idea of how things are going, but what questions should i be asking and can I leave all of the above to them ?

    Any advice on the above is appreciated. I know there are various posts on this on boards already but each situation is slightly different.
    Thanks.


Comments

  • #2
    kcphoto
    Closed Accounts Posts: 97 ✭✭kcphoto


    looks like i posted in the wrong section.
    I should have known accountants wouldn't give any advice for free.....(just joking)


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