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Business Name Registered About To Submit TR1 Form but due to leave the country

  • 04-11-2014 05:44PM
    #1
    Arbitrary
    Registered Users, Registered Users 2 Posts: 532 ✭✭✭


    Hi,

    I'm in a bit of a pickle as to what to do and I'd greatly appreciate some advice. I recently registered a business name back in August. I launched a blog/editorial site which just recently started generating revenue. I wasn't sure if anything would come from it so I held off submitting the TR1 form, in case it generated no revenue. Revenue is generated through advertising.

    In the meantime personal circumstances have changed in my life and I'm due to leave Ireland in January /February next year.

    I expect one or two payments to hit my account before then, not a huge sum but official revenue from the website.

    What would be the best course of action, submit the TR1 form now and then cease trading as soon as I leave the country, or once payments cease arriving at my Irish bank account?

    I'm in the process of registering the business name as a sole trader and opening accounts in the country I'm moving to.

    What would be the best course of action, I'm thinking I probably need to talk to an accountant but any pointers or feedback from someone who may have been in similar situation would be hugely appreciated. Also open to pms for services from accountants who can advise the best course of action.

    Thanks for reading.


Comments

  • #2
    CIARAN_BOYLE
    Registered Users, Registered Users 2 Posts: 14,595 ✭✭✭✭CIARAN_BOYLE


    assuming total income is under some figure around €3000 you can just declare the income on a form 12 instead of a form 11 without registering with Revenue.


  • #3
    CFO4Hire
    Closed Accounts Posts: 5 ✭CFO4Hire


    Hi,

    You can also file the income through the PAYE online system, this is if your main income was PAYE. There is a facility in there to file an eForm 12 for your non PAYE Income.

    Please don't hesitate to PM if you need some further guidance and I can send you the link to the Revenue site.

    Regards,


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