New Sole trader question

applecore

Registered User
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I've recently registered as a soletrader for a small business I'm starting.
For the purpose of my first tax return next year is there a source for the various expenses
that can be offset agaisnt my income, ie. travel, website etc? The information on revenue.ie seems sketchy.

I have received notification from revenue of registration but no ROS login, is that normal?
My first year's profit are projected to be €3k
thanks
 
You can claim all expenses that are wholly and exclusively an expense for the business. You can also claim a portion of expenses that relate to both private and business use such as electricity, telephone etc.. Your website development costs may need to be capitalised which means that you claim a portion of the expense each year for tax purposes. If you use your vehicle for business and private use a portion of your Fuel, Insurance, Tax, Servicing and Wear and Tear of the vehicle can be claimed as a business expense.

You have to apply for the ROS Login separately through their online system.

Some Accountants offer a Free Consultation to New Start Ups so it might be worth your while arranging a meeting with one to go through any questions you had and it would not cost you.
 
thanks Flah, I'm assuming if I were to use an accountant to file my return next year it would also be deductible?
 
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