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Setting Up A Business but Not Trading Immediately

  • 04-06-2020 4:52pm
    #1
    BlackEdelweiss
    Registered Users, Registered Users 2 Posts: 1,542 ✭✭✭


    I am in talks with a software provider with the intention of setting up my own business using this software as the primary means of carrying out the business. The company bills only on actual use of the software, i.e. if I use it commercially I pay a small fee. If I dont use it commercially I dont pay anything. I want to get access to the software so I can practice with it and develop my own outputs etc however I need to form a company so they will go into this agreement with me.

    My query is relating to taxation on the company if I dont do anything with it for a year other than develop how I will use the software. Will there be any fees, tax etc on me?

    If I can get things sorted out and looking like a viable business then I may begin trading and I will probably get an accountant at that stage but I dont want to incur these costs before I am trading.


Comments

  • #2
    Calahonda52
    Registered Users, Registered Users 2 Posts: 12,579 ✭✭✭✭Calahonda52


    company can be set up for very little.
    annual return with the CRO is 20 euro
    no income= no tax payable but you will need to file a return on ROS

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



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