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Starting a catering business.

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  • 10-03-2010 2:20pm
    #1
    emilythestrange
    Closed Accounts Posts: 2 ✭


    Hi all,
    I am seriously thinking of setting up my own catering business, which will be relatively small and local for a start.
    I don't know anything about tax, as with my previous employment I was paid minimum wage at below the taxable income.
    I will be working on my own, and as it progresses I might employ a help or two.
    I believe I need to register with the CRO first, then for the VAT. But I've heard some business do not register for VAT. Why is this? If I do, what sort of input VAT can I claim? When is the VAT liability payable?
    Do I also have to pay corporation tax as well as income tax?
    When is my income tax liability due?
    And do I have to pay for PRSI and health levy?

    I'm sorry for all this questions, but my knowledge of tax is really limited. I'm hoping someone can explain to me in simple plain language rather than jargons. :confused:

    Thanks all. :)

    oh yes, and is tax-year end and accounting year-end the same?

    emily.
    Tagged:


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    #2
    TaxingTimes
    Registered Users Posts: 145 ✭✭TaxingTimes


    I would suggest that you go to a Start your own business course, and contact your Enterprise Board - they are very helpful.

    There is too much information that you need to be answere on a forum like this.


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    #3
    Mr. Incognito
    Registered Users Posts: 9,798 ✭✭✭Mr. Incognito


    Take a deep breath.

    No point incorporating a business unless you have start up capital or your turnover is kicking over 60K.

    At the start you'll need to contact the Health Boards who have a wealth of good advice for you.

    So, don't worry about VAT, corporation tax or any of that red tape right now- get the certs from the Health Boards to operate first.

    EDIT-I'm moving this to Ent and Bus- I'm sure people will be able to give you more pertinent advice there on the practical starts ups.


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