Individual running their own business - read on!

Random

So, I've been fixing PCs for people for a while now but feel it's time to make it a bit more serious.

I would be based from home and the job would involve traveling to peoples houses/premises to repair/upgrade their computers etc. This would not be full-time, but rather evenings and weekends.

I would like to be able to advertise my company as COMPANYNAME. I understand that I need to register with cro under "business name" for this? This treats me as if I'm a sole trader, but with a separate name for my work? I also understand (I think anyway, from www.cro.ie) that this COMPANYNAME is not trademarked, so that someone else could use the same one? I assume this means I could use the same as someone else if they happened to overlap?

Also, do I need to register tax and stuff too? I plan on working full-time as a regular employee at the same time, so this will just be a "serious" part-time job - evenings and weekends.

Anything else relevent I've missed? Any advice is appreciated, thanks!

nesf

You can have a registered business name and that affords some protection to the name iirc.

But it isn't automatically a trademark. You need to get that seperately and it is not free.

Someone else might be able to give you more information, I personally have never had to do any of this so I'm slow to add more than the above.

Random

I'm not too interested in reserving my name, or trademarking it - I don't mind sharing in the future, I just want to make sure that someone else can't come along and take it from me (Read it again, it makes sense!).

And following up from my first post, can I just register one business name and then having various trading names that don't all need to be registered? You know, dibble in a bit of this, dibble in a bit of that ...

magpie

[EDIT] Why not just continue as you are rather than bringing all the extra work that registering with the CRO brings? It sound slike you have quite a nice little sideline already so why complicate matters?[/EDIT]

Hagar

Incitement to evade tax :eek: Tut Tut Magpie.

nesf

Don't advise people to break the law on here magpie.

Consider this a warning.

kluivert

You can have as many jobs as you like and i think you should give it ago.

You dont need to register a name with the cro if your a sole trader but it is advisable that you a check with them to ensure you dont share the same name as others for your trading name, as they may take action to prevent you from using the same trading name.

As for avoiding tax - thats a no no. But there can be advantages to actually preparing accounts even if you only do this part time at the start. Say you buy computer equipment - you get a capital allowance @ 12.5% to be deducted from your income/profits. Certain exepenses will be allowable as well e.g telephone and milage expenses. Which if your getting cash in hand you cant claim for - so dont listen to narrow minded opinions as magpie.

Give it a go, register with the Revenue by filling out your TR1. Get your name out their, get friends and family to spread your services to other people, approach offices with your business card or a leaflet ask to see the office manager (not the receptionist, they dont give a fook - only about getting drunk at the week ends and getting the leg over) say thanks for your time i wont keep you long, just here to notify you of my services to the area - that sort brief meeting will always stick in their mind.

Best of luck - i am a greater patriot of self employment.

Random

So, if I was to go and register and if I only took things slowly for the first few months, I'm not loosing out by only doing the odd job each week to begin with ?

ambro25

Aside from *legal and tax* considerations, an easy enough way to build some protection into your trading name without going to the expense of trademarking it (yet ) is to buy and use the domain (*.com *.ie etc.) for it.

(1) if you want/have to stop someone from using the same trading name as yours, it will be an important (and often decisive) part of your evidence in a case for passing-off (that's what the tort is called when TMs are not involved/what you sue under) and

(2) if and when you do want to trademark your trading name,

(a) the domain will form evidence of use

(b) you'll prevent cyber-squatting in the intervening time or at the time of registration ('pro' cyber-squatters regularly check TM public notices)

Pretty cheap for the immediate and potential benefits. And (as posted above) it may also be tax-deductible

kluivert

Exactly you got it in one there.

Hey do you up into the shower before testing the water.

If you need any help with financial, accounting or tax advise PM me, i am a part qualified accountant working in Monaghan, more than happy to help people get off the ground with new business ideas.

Random

Thanks lads for the advice, I'll think it over and no doubt get back with more questions

magpie

Post duly edited.

narrow minded opinions as magpie.

I've been self employed since 1997 fulltime and have always paid my taxes in full, including the pain-in-the-arse bi-monthly VAT returns. I'm fully aware of what can and cannot be claimed for etc and have been doing so for 8 years. I'm no "Part-Qualified Accountant" though :rolleyes:

If this guy is setting up a full business then fine, but if its a couple of quid here and therefixing PCs for neighbours, while technically tax evasion its hardly going to cause the economy to collapse.

My point would be there is a critical mass at which point it becomes worth your while and effort. Do you think kids out cleaning cars should register for tax? The guy who comes round with a ladder to clean your windows? They should within the law but does anyone care for a few quid? There is an enormous Nixer culture in this country. We even have a word for it. Nixer. To act otherwise would be overly sanctimonious, so let's not turn this into an exercise in soap-box highhorsing.

The guy asked an honest question, and I gave an honest answer. If the business is big enough to go into all that hassle fine. If not then leave it as a Nixer.

nesf

It's more that it's illegal and that advising people to break the law on a public bulletin board is a serious no-no. At least that is the case from my perspective.


If you are self employed then you will know that there is a nice little revenue ceiling underwhich you don't have to register for a VAT account. I can't remember the exact numbers but it's up on revenue.ie iirc. Without VAT then the taxes involved are grand really. I'll have look around for the link.

Here we go:

Who must register for VAT?

You must register for VAT if you are a taxable person and your annual turnover (i.e. the amount of your receipts excluding VAT) exceeds or is likely to exceed the following annual limits

* €51,000 in respect of the supply of goods
* €25,500 in respect of the supply of services

From www.revenue.ie (The Irish Revenue Commisioner's Website)

magpie

€24k is the ceiling for VAT iirc. If you already have a PAYE job as well any extra revenue will effect your tax brackets.

EDIT/ I was close!

nesf

magpie wrote:

€24k is the ceiling for VAT iirc. If you already have a PAYE job as well any extra revenue will effect your tax brackets.

Yeah it will. But not a whole lot if you are only doing a few jobs on the side.

Random

"Nixer" would be a fair word to describe this. I think I'll leave it as just that for now, and stay away from any "serious" business for the immediate future while I sort out jobs.

Thanks for the advice

kluivert

The guy who comes round with a ladder to clean your windows?

Just a quick note - We have a window cleaner on our books and window cleaning is his sole and principle activity, he requests from us that accounts be prepared every year and 100% tax is paid on his earnings from this trade.

madramor

kluivert wrote:

Just a quick note - We have a window cleaner on our books and window cleaning is his sole and principle activity, he requests from us that accounts be prepared every year and 100% tax is paid on his earnings from this trade.

he's probably one of gerry's soldiers and using the pretence of a W.C. to
launder his dodgy cash.

ambro25

ciaranfo wrote:

"Nixer" would be a fair word to describe this. I think I'll leave it as just that for now, and stay away from any "serious" business for the immediate future while I sort out jobs.

Thanks for the advice

get your Interweb domain all the same

Hagar

Aha! Another fiendish SF plot uncovered. Foiled again.

FFS is there anything that can't be pinned on SF?

There is always the chance he is an honest man.

magpie

100% tax is paid on his earnings

He must be earning a lot to be in that 100% tax band.

kluivert

LOL LOL.... I just noticed that...100% Tax..Could you imagine it.....Good man magpie for spoting that.

No seriously this man is 100% Genuine.... Makes his living from Window Cleaning pays his Vat, IT, the works.

I was thinking of doing a bit of window cleaning myself when i realised the revenue that could be earned.... Nice wee earner....