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Employees as a Sole Trader

  • 07-05-2009 9:18am
    #1
    islay
    Closed Accounts Posts: 48 ✭


    Hi,

    I am in the process of setting up a business I was wondering if anybodyn could help me is it possible to be a sole trader and register empoyees?

    Sorry if this is the wrong place or if its a stupid question.

    Thanks in advance.


Comments

  • #2
    jnh
    Registered Users, Registered Users 2 Posts: 31 ✭jnh


    Yeah you register as self employed and also as an employer on a form TR1 which you can get from the Revenue website. You may also need to register for VAT. Register your business name with CRO.


  • #3
    dbran
    Registered Users, Registered Users 2 Posts: 2,094 ✭✭✭dbran


    Hi Islay

    You, personally, will need to file a tax return every year and pay income tax on the profits that the business earns.

    If you employ any other employees, you will need to register with the revenue as an employer using revenue form TR1. These employees can then be registered to you and will be subject to PAYE/PRSI once registered.

    You do not necessarily have to register for VAT, only if your turnover is in excess of a certain limit for VAT registration. I do not recommend that you register for VAT unless you have to.

    You should register your business name with CRO also in order to protect it

    PM me if you need further advise/details.


    Regards

    DB


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