Cro business name two or three

2024

I registered as a sole trader and registered a name with the cro. Last year I registered a different name but still working away at the same thing. I was hoping to move forward with my business and expand but now I'm having second thoughts.

Do I need to cancel my business name with cro or can I still keep it but still use the first business name I registered with.

My main reason for registering the second name was so no one else could use it but now I won't be working under this name, am.i legally allowed to own it but not work under it.

capefear

you can register as many business names as you want. Also, business names aren't protected, so anyone can register a business name with the same name as your business. The only way to get some type of protection is to register a limited company, that way no other company can use the name or something similar to it, but they could still register a business name with the same name as your company.

I hope this makes sense.

2024

https://www.boards.ie/discussion/comment/122608099#Comment_122608099

O rgt. I was always of the thought that on e you registered a name, no one else could use it.

What's the tax implications of registering different business names and even if one doesn't trade under one.

capefear

if you are a sole trader all the income/turnover is combined into one figure less your expenses and you pay tax on the profit. Where it gets tricky is if you have say 2 business names generating turnover and the turnover is say 25K + 15K both are under the VAT threshold but as you are a sole trader both turnovers are combined so your turnover is now 40K which means you need to register for vat. This would depend on the services etc but it's just a quick explanation for what you need to remember.

2024

https://www.boards.ie/discussion/comment/122635902#Comment_122635902

The vat threshold is 40k for sole traders is it not? But if two business names are up to the 40k am I obligated to register for vat whereas if it was just one then I wouldn't need to register for vat.

Is this what your saying.

capefear

yep vat threshold is 40k regardless of how many business names you have. So if one business has 25k in turnover and the other has 15k then you are obliged to register for vat when you think your over all turnover will be 40k or more in a calendar year.

2024

https://www.boards.ie/discussion/comment/122643700#Comment_122643700

I hear ya. I was thinking it was over the 40k and not actually once one reaches 40