What steps are not necessary for setting up as a sole trader?

matchboxyouth

This summer I will be working as a freelance audio engineer and I'm wondering which of these steps are absolutely necessary? I will not be earning more than €10,000 and will not have any employees working for me I should add.

1. Register for Income Tax

2. Register for VAT

3. Register for Employers PAYE

4. Register for ROS

5. Register Your Business Name

Number one is necessary but are the others in my circumstance? For instance, must I have a company name or does my own name on the invoice suffice?
Thanks.

Gloomtastic!

matchboxyouth wrote: »

This summer I will be working as a freelance audio engineer and I'm wondering which of these steps are absolutely necessary? I will not be earning more than €10,000 and will not have any employees working for me I should add.

1. Register for Income Tax

2. Register for VAT

3. Register for Employers PAYE

4. Register for ROS

5. Register Your Business Name

Number one is necessary but are the others in my circumstance? For instance, must I have a company name or does my own name on the invoice suffice?
Thanks.

You can do all of the above, except VAT, via ROS.

For €10k you’re under the threshold for VAT so don’t bother.

You’ll then get your registration letter from Revenue that lets you open a bank account as a sole trader for Your Name trading as xxxxxxxxxx. You can then receive payment in either.

Are you going to be employing anyone?

https://www.citizensinformation.ie/en/employment/types_of_employment/self_employment/self_employment_as_an_individual.html

Good luck to you!

matchboxyouth

Gloomtastic! wrote: »

You can do all of the above, except VAT, via ROS.

For €10k you’re under the threshold for VAT so don’t bother.

You’ll then get your registration letter from Revenue that lets you open a bank account as a sole trader for Your Name trading as xxxxxxxxxx. You can then receive payment in either.

Are you going to be employing anyone?

https://www.citizensinformation.ie/en/employment/types_of_employment/self_employment/self_employment_as_an_individual.html

Good luck to you!

Hi,

Thanks for your reply!

No, I won't have any employees. So, I just register through ROS and I will receive a letter from Revenue is it?

duploelabs

matchboxyouth wrote: »

Hi,

Thanks for your reply!

No, I won't have any employees. So, I just register through ROS and I will receive a letter from Revenue is it?

That's pretty much it. Ancillary to this, get an accountant and a simple accounts package like sage one, it'll make your accounts/invoicing/etc much easier to handle

vintagecosmos

Bullet hq worth a look too. Free for 5 invoices a month.

matchboxyouth

vintagecosmos wrote: »

Bullet hq worth a look too. Free for 5 invoices a month.

Thanks guys, that's great help!