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Self Assessment - Preliminary Tax

  • 07-09-2015 10:05AM
    #1
    Abbieco
    Registered Users, Registered Users 2 Posts: 9 ✭


    Hi,
    My cousin just started up his own business this year as an electrician working for himself. Its just him, he has no employees and is not registered for VAT. I was just wondering what is required of him this year in terms of paying tax on his income:
    1) Is he required to register as a sole trader or can he just file taxes under his PPS number?
    2) Is he required to pay preliminary tax for 2015 by 31st October this year or as its his first year of business can he wait and just file his return for the full year 2015 by 31st October 2016?
    3) If he does have to pay preliminary tax is there a method for trying to calculate what he might owe for the year?

    Any advice/guidance would be very much appreciated.
    Thanks!
    Tagged:


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