Sole Trader Tax Return

Treacys

I am a sole trader trading for three years. I have never done any returns. I only have a very small income and thought I didn't have to. Now I am told that I need to do returns. I have not received any form or communication regarding same since setting up. Can anybody help or recommend where I go to get this done/what I need to do? Do I need to go to an accountant? If so can anybody recommend one please.

DadaKopf

As far as I know, you have to register as a sole trader with Revenue. Then you have to fill out and submit Form 11E (if your self-employed turnover is below [I think] €250,000). There are guides to filling this out on Revenue.ie, but you could also call into the Revenue office and they'll help.

I filled it out last year (had a small turnover in addition to PAYE employments), found it easy enough. This year's a different story, I need serious help from a kindly accountant-type who's willing to do it out of the goodness of his/her heart.

rob accounts

Treacys

I've sent you a pm

Rob

Mr. Incognito

am a sole trader trading for three years. I have never done any returns. I only have a very small income and thought I didn't have to. Now I am told that I need to do returns. I have not received any form or communication regarding same since setting up

Ignorance of the law is not an excuse. - Lord Dennings.

It is YOUR responsibility to ensure that all your accounts are done in a timely matter. We do not live in a nanny state- you're a big girl now.

You're going to have to pay penalties and interest at this stage. Get a professional to help you.

TargetWidow

Dont worry about it so much. It's not that hard to do yourself if you have kept accounts. My accountant charged me 1900 to make a total mess of it last year and I ended up paying penalties and fines, so this year I've done my own and I've very proud of it.
Go to the Revenue.ie website at
www.revenue.ie
And download the guide to self employment, the Form 11E or Form 11, and the Guide to Filling it out. Then call your local tax office, talk to someone in the self employment section, and tell them your situation. They are lovely helpful people and will go out of their way to get you tax compliant as fast as possible. If you dont understand stuff, phone them and ask (preferably with one phone call for all your questions as they are up to their ears this time of year.)

But do get going! And good luck! Welcome to the wonderful and exciting world of self-employment!:D

Stonemason

I agree with target window do it yourself, accountants in ireland dont save you money like they should they will put you out of business.4years of book keeping from my so called accountant cost me €7795 and has crippled my business with overcharging. example they quoted me €900 euros to place a closer of limited company add in the paper i said id do it and it cost me €220 for the add and €1.50 for the phone call, so €678.50 for phoning a newspaper and using a standard script used by everyone, nice work if you can get it.

Your best bet is to get an independant book keeper it.ll cost you €200/300 a year and they will do the same job as any overpaid accountant.Note by law i think you need an accountant if your a limited company for stock audits n stuff

swanvill

Hi Dadakopf,
I will help with your accounts out of the kindness of my heart and for a modest fee pm if you are interested in contacting for me a quote.

It is shame that so many of ye had bad experiences with your accountants who have over charged and under serviced your business but gives me optimism that my own buisness will suceed by providing quality at a reasonable price.

Swanvill

Hitchhiker's Guide to...

Mr. Incognito wrote: »

Ignorance of the law is not an excuse. - Lord Dennings.

It is YOUR responsibility to ensure that all your accounts are done in a timely matter. We do not live in a nanny state- you're a big girl now.

You're going to have to pay penalties and interest at this stage. Get a professional to help you.

Cop on and post in context. He wasn't asking for moral judgement. Infracted

Mr. Incognito

Hi Dadakopf,
I will help with your accounts out of the kindness of my heart and for a modest fee pm if you are interested in contacting for me a quote.

It is shame that so many of ye had bad experiences with your accountants who have over charged and under serviced your business but gives me optimism that my own buisness will suceed by providing quality at a reasonable price.

Swanvill

Wouldn't hold out hope seeing as the OP's post is from last October mate.