Explain the TR1 form

Conmc88

Can some one please help me or advise on the TR1 form I am registering my shop and I have been advised to complete the TR1 form but I cant find info on how to fill it out or what it is all I can find is www.revenue.ie and it just says this is the for you use to register your company if any one can explain the form and what it dose I would be very greatful



Cheers

MBateson

The TR1 registers you for income tax with the Revenue Commissioners, it also register you as an employer (if you're going to have employees) and for VAT if you're sales will be over the relevant threshold (circa75K).

If you're setting up a business, you should have an accountant advising you on all of this.

Conmc88

What if I know I will not exceed the threshold do I still need to fill one out ...i will not be employing anyone either

MBateson

You still need to register for income tax

Conmc88

Which is part of the tr1 form correct

smcgiff

Conmc88 wrote: »

Which is part of the tr1 form correct

Having read the form, what do you think?

Factors to be considered are whether the business is a sole trader or partnership (not a company)

Whether you need or want to register for vat

Whether there are going to be employees and therefore paye registration or not

Conmc88

Thats excellent mate thank you im just new to all this