Registering Business Name

SD1990

All ,

I have registered my business name with the CRO.

What i was wondering is do i now qualify to be taxed on income by the revenue ?

dbran

Hi Sd1990

You now need to register with the Revenue as self employed and complete form Tr1 as a sole trader.

DB

SD1990

thanks for reply db.

If i do that will i not get taxed on income ?

Axwell

SD1990 wrote: »

thanks for reply db.

If i do that will i not get taxed on income ?

Define what you mean by not get taxed on income? If you are self employed you files your own tax returns at the end of the tax year along with whatever tax you owe. You still get taxed on any money you earn you just arent paying it every week/month like when self employed.

Tipp-Boy

SD1990 wrote: »

thanks for reply db.

If i do that will i not get taxed on income ?

SD1990 - I suggest to go to an accountant and discuss what you are trying to do. They normally give a once-off meeting free of charge and you can use this to gather information and perhaps if you get a good feeling about them hire them. I don't mean to be harsh but I think you need to get a decent grasp of revenue roles and sole trader vs limited company.
Best of luck.

MartMax

SD1990,

Registering a business name with CRO would only entitle you to trade with watever name you are registered to.

It is a separate thing to register and pay for taxes with Revenue Commissioners. That includes income tax, PAYE/PRSI, VAT, etc whichever applicable to you. Have a good read here http://www.revenue.ie/en/business/index.html as a start.

Best of luck!

thecleverone

Accountant is a good idea, but in the least, read Revenue's Guide to Starting in Business which can be downloaded here: http://www.revenue.ie/en/tax/it/leaflets/it48.pdf