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Tax and new business

  • 27-01-2019 2:39pm
    #1
    Red Lightning
    Closed Accounts Posts: 378 ✭✭


    Hi. Just looking for advice. I bought out a franchise of a small business where I run classes a few evenings.
    First time running my own business. I started in September and I registered as a sole trader with revenue. I've been keeping track of my income and any receipts for business expenses.
    My question is how do I go about tax. I was on emergency tax a lot in 2018 due to a tax credit error and only found out at the start of January that I need to fill out a form 11 instead of the usual p21 form.
    I'm lost when it comes to these matters so should I just fill out a form 11? Thanks


Comments

  • #2
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    Red Lightning wrote: »
    Hi. Just looking for advice. I bought out a franchise of a small business where I run classes a few evenings.
    First time running my own business. I started in September and I registered as a sole trader with revenue. I've been keeping track of my income and any receipts for business expenses.
    My question is how do I go about tax. I was on emergency tax a lot in 2018 due to a tax credit error and only found out at the start of January that I need to fill out a form 11 instead of the usual p21 form.
    I'm lost when it comes to these matters so should I just fill out a form 11? Thanks

    I'm sorry but this is the conversation you should have had before you started.

    https://www.revenue.ie/en/starting-a-business/index.aspx

    Find and accountant and have a chat.


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