advice required please

flutered

i have started a very small buisness selling used goods, this involves a lot of travel, i usually work on saturday and sundays, my overheads are very small, my turnover is the same, what is the best way of going legit.

smeharg

I take it by going "legit" you mean declare the income.

You need to register for self-assessment (form TR1 available on the Revenue website). Then you need to file any outstanding tax returns and pay any tax due (plus interest and penalties if the returns and payments are overdue).

You may also have to register the business name if you are trading in a name other than your personal name.

When did you start trading?

flutered

i started last month, i only sell one line, it is stuff that i have accumilated over the years, i still buy it, turnover is small, last saturday for instance i had no sale, sunday i took in 125 euro, is it worth the hassle to go through the books.

smeharg

If you are trading, ie buying and selling goods at a profit, then your obliged to register for income tax and file returns.

If you are merely selling personal items for which you no longer have a use then I don't think you there should be an issue.

Without knowing the details I couldn't comment one way or the other.