Do I need to file tax returns for December?

TheSockMonster

Hi all,

I started a sole trader business on 1st December 11. I am wondering do I need to file my tax returns for December by Oct or would that month be considered part of my first year where I keep records to file in year 2

I thought it would be part of year one but someone told me I would have to file this year as it is a previous calendar year.

Thanks,
TheSockMonster

Citizenpain

From Revenue.ie
Making Tax Returns under Self-Assessment for the first time

Individuals, who enter the self-assessment system because they have commenced to trade, have until the return filing date for the second year to submit tax returns for both the first and second year of trading. However, as mentioned previously, early filing of returns is advisable, as it establishes tax liability due in advance of payment deadlines

TheSockMonster

Thanks So does that mean I have until next year but I can do it early if I want to?

Citizenpain

Correct- but you are still required to pay preliminery tax

There are guides on revenues website to starting a business which are v useful