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Statement of accounts

  • 22-01-2020 10:57am
    #1
    upinthesky
    Registered Users, Registered Users 2 Posts: 1,407 ✭✭✭


    If i have someone looking for statements of accounts for self employed what do i need to give?

    Not due to pay tax until October 2020 for the first time. I am using sage one for bookkeeping?

    if i give a profit and loss statement it showing everything without any tax credits giving so what do i send them?


Comments

  • #2
    Calahonda52
    Registered Users, Registered Users 2 Posts: 12,886 ✭✭✭✭Calahonda52


    Who is the someone: a bank, a divorce lawyer, etc?
    Bank may require audited accounts, maybe not, depends

    “I can’t pay my staff or mortgage with instagram likes”.



  • #3
    upinthesky
    Registered Users, Registered Users 2 Posts: 1,407 ✭✭✭upinthesky


    Calahonda52 wrote: »
    Who is the someone: a bank, a divorce lawyer, etc?
    Bank may require audited accounts, maybe not, depends

    Social welfare for my partner, it would be for means testing..


  • #4
    Happy4all
    Closed Accounts Posts: 2,089 ✭✭✭Happy4all


    A copy of the latest statement which will be 2018


  • #5
    upinthesky
    Registered Users, Registered Users 2 Posts: 1,407 ✭✭✭upinthesky


    Happy4all wrote: »
    A copy of the latest statement which will be 2018

    But only started as self employed July 2019


  • #6
    Stratvs
    Registered Users, Registered Users 2 Posts: 958 ✭✭✭Stratvs


    upinthesky wrote: »
    Social welfare for my partner, it would be for means testing..
    upinthesky wrote: »
    But only started as self employed July 2019

    Normally they’d look for accounts and tax assessment. Since you haven’t a years trading yet, assuming you intend to do year end to June 2020, you can only give them what you have so far, suggest July to December if you can extract a P&L from Sage and explain that you don’t have tax assessment or full year accounts yet.


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  • #7
    upinthesky
    Registered Users, Registered Users 2 Posts: 1,407 ✭✭✭upinthesky


    Stratvs wrote: »
    Normally they’d look for accounts and tax assessment. Since you haven’t a years trading yet, assuming you intend to do year end to June 2020, you can only give them what you have so far, suggest July to December if you can extract a P&L from Sage and explain that you don’t have tax assessment or full year accounts yet.
    That’s a great help, thank you.


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