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I need advise on how to make a pub band legal with The tax man, can anyone help?

  • 01-03-2011 6:43pm
    #1
    Tooshjr81
    Registered Users, Registered Users 2 Posts: 30 ✭


    I've been thinking about setting up a pub band in my area. I don't have a clue where to start going about making it legal with The tax man, any advise on how to go about it or rates etc would be great..


Comments

  • #2
    manta356
    Registered Users, Registered Users 2 Posts: 198 ✭✭manta356


    You will need to register as self employed,and keep a record of all your income and expenditure in relation to your work.


  • #3
    Tooshjr81
    Registered Users, Registered Users 2 Posts: 30 ✭Tooshjr81


    manta356 wrote: »
    You will need to register as self employed,and keep a record of all your income and expenditure in relation to your work.
    My apologies for The what might seem like simplton questions :) but where do i go to register? Can it be done online?


  • #4
    maddogcollins
    Registered Users, Registered Users 2 Posts: 998 ✭✭✭maddogcollins


    www.revenue.ie and put in a search for TR1.

    This is the form to register as self employed. Once you are registered you will need to make your own tax returns.

    These are done on 31st October each year. eg 01/01/2010 to 31/12/2010 will be returned on 31st October 2011.


  • #5
    Tooshjr81
    Registered Users, Registered Users 2 Posts: 30 ✭Tooshjr81


    Ok Thats shed some light on The subject, Thanks all.


  • #6
    Alan Shore
    Registered Users, Registered Users 2 Posts: 735 ✭✭✭Alan Shore


    Hi,

    So your decided to start a band. What is your structure:
    Are you a sole trader who employes the other band members a kind of manager. If so you need to register as a sole trader Form TR1 and as an employer and operate PAYE/PRSI on payments to employees.

    Or is your band a partnership with each partner making their own return. You need to consider the structure as some band members may have PAYE jobs and not have any standard rate cut off available for this income.


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  • #7
    Tooshjr81
    Registered Users, Registered Users 2 Posts: 30 ✭Tooshjr81


    Alan Shore wrote: »
    Hi,

    So your decided to start a band. What is your structure:
    Are you a sole trader who employes the other band members a kind of manager. If so you need to register as a sole trader Form TR1 and as an employer and operate PAYE/PRSI on payments to employees.

    Or is your band a partnership with each partner making their own return. You need to consider the structure as some band members may have PAYE jobs and not have any standard rate cut off available for this income.
    There's 2 of us and we would be looking to split 50-50 both of us are on social welfare at The minute


  • #8
    ssbob
    Registered Users, Registered Users 2 Posts: 2,736 ✭✭✭ssbob


    Tooshjr81 wrote: »
    There's 2 of us and we would be looking to split 50-50 both of us are on social welfare at The minute

    If you register as a sole trader then you will loose your allowances however you may be entitled to get onto the back to work enterprise allowance scheme.....I think you have to be on social welfar for a year first though, have a look into it.


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