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Tax returns advice sought by sole trader

  • 20-02-2011 06:30AM
    #1
    Rockdean
    Closed Accounts Posts: 1 ✭


    Hi

    I set up my business late in 2009 and operate as a sole trader. Although I am making a very small pre tax profit, I am finding it difficult to justify paying an accountant to make tax returns on my behalf.

    Is there a "fool's guide" to making your own tax returns ?

    All advice & guidance would be appreciated.

    Rgds & tks

    Rockdean


Comments

  • #2
    jerry2623
    Registered Users, Registered Users 2 Posts: 150 ✭✭jerry2623


    1st step is register with ROS the revenue online service . This site is very user friendly.See how you get on with it .
    If you find it to complicated use an accountant but aggree a price first and shop around . there about a third of the price they were 3 years ago.


  • #3
    J.Ryan
    Registered Users, Registered Users 2 Posts: 474 ✭✭J.Ryan


    Call into a public office of the Revenue, they can be quiet helpful.


    Just to comment on part of your post, don't think of an accountant as just a form filler, accountants generally have many years of experience in business and can offer suggestions/advice on running your business.


  • #4
    ssbob
    Registered Users, Registered Users 2 Posts: 2,736 ✭✭✭ssbob


    As suggested above the Revenue Commissioners are very helpful to start ups but I would advise you getting an accountant for the first year at least, after that you could work away yourself.

    The only thing that I would say is that in the event that you will require a loan or a mortgage in the future, the banks are going to want to see a set of accounts prepared by an accountant.


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