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Benefits to registering as a Sole Trader

  • 19-02-2019 10:12pm
    #1
    best_before
    Registered Users, Registered Users 2 Posts: 5 ✭


    Hi - sorry if this has been asked here before but I did try a few variations of searching for it and couldn't find an exact match.

    I've been part-time self-employed for several years, am tax-compliant, file jointly with my better half every year. Currently under the threshold for VAT, not in any immediate danger of crossing same. I never registered as a Sole Trader as I was told it wasn't necessary but now I'm wondering if there are benefits that I could be taking advantage of? For instance, I've been looking at changing my car for something like a Renault Trafic crew-cab/9-seater. However, it seems that it is next to impossible to get private insurance for this kind of vehicle in Ireland. I'm not trying to dodge tax or commit insurance fraud of any kind, I'm just wondering if I register myself as a sole trader (which I am, in effect), could I broaden the range of opportunities open to me in the vehicular realm? Or, indeed, possibly pick up more paying gigs? OR will registration expose me to any potential hazard?
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