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Need advice starting buisness.

  • 07-07-2010 10:27am
    #1
    Simplenough
    Closed Accounts Posts: 8 ✭


    Hi all,
    I need little advice on starting up my buisness.
    I am in full time employment and looking to open up a shop and Mrs will look after the shop.

    I know first step would be to register the business name on www.cro.ie.
    we will be operating from home intially and then rent a shop in few weeks time, can i give my home address as buisness address and change it later?

    can someone give me step by step what i need to do, from registering business name, tax, vat etc.
    Kind regards


Comments

  • #2
    helenaoneill
    Closed Accounts Posts: 17 ✭helenaoneill


    Hi
    Register your business name. You can use your home address no problem and then let the CRO know your new business address when you have one.

    If you're starting as a sole trader, you need to download and fill in form TR1 from the Revenue website (revenue.ie), here you can register for self-employed income tax, VAT and as an employer.

    As you're married, if you're employed, your and your wife's tax credits will need to be looked at at some stage. This is to make sure that they're distributed in a way that you get the most out of them and they're not wasted. Any changes to tax credit distribution can only be done from January-March each year, so this will give you a few months of trading which will make the decisions easier. Honestly, meeting an accountant to work this out can be one of the best investments you'll make.

    Keep all your receipts and go for it!

    Good luck.
    Helena


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