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1st Timer Self Employed Tax Q

hermajesty · 2011-09-21 10:27:11

Hi! I started a very small business in October 2010. I need to file my tax returns by Oct 31st for 2010. However my gross profit was a staggering €150 ( seriously!) , and my expenses were €138!! Do I need to file a return for this paltry amount? In relation to 2011, I have gross profit of €1786 so far, and expenses of…

21-09-2011 10:27am

#1

hermajesty

Registered Users, Registered Users 2 Posts: 8 ✭

Join Date: May 2011

Posts: 6

Hi!
I started a very small business in October 2010. I need to file my tax returns by Oct 31st for 2010. However my gross profit was a staggering €150 ( seriously!) , and my expenses were €138!! Do I need to file a return for this paltry amount? In relation to 2011, I have gross profit of €1786 so far, and expenses of €1339...I know its not great, but most of my expenses were getting website up and running, business cards, supplies etc...As far as I can tell I' m not liable to pay health contribution or PRSI. I wish I could afford an accountant but how can I justify paying one when it will leave me in the red?

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Comments

#2 24-09-2011 2:29pm

mari2222

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Join Date: July 2008

Posts: 538

You can do it all yourself online through the revenue site.

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