If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Preliminary tax in first year of trading?

One More Toy · 2017-09-23 05:25:44

Hello I work in audit so I'm a bit clueless when it comes to tax, rusty to say the least! In my first year as a sole trader.. Do I have to pay any preliminary tax?

23-09-2017 5:25am

#1

One More Toy

Registered Users, Registered Users 2 Posts: 3,886 ✭✭✭

Join Date: June 2015

Posts: 3545

Hello

I work in audit so I'm a bit clueless when it comes to tax, rusty to say the least!

In my first year as a sole trader.. Do I have to pay any preliminary tax?

0

Comments

#2 23-09-2017 9:06am

CIARAN_BOYLE

Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭

Join Date: December 2007

Posts: 14299

One More Toy wrote: »

Hello

I work in audit so I'm a bit clueless when it comes to tax, rusty to say the least!

In my first year as a sole trader.. Do I have to pay any preliminary tax?

Pt is 100% of the prior years tax liability or 90% of the current year liability.

Your prior years tax liability was zero as you didn't trade.

You therefore need to pay 100% of zero as preliminary tax.

0