I am struggling to understand how to deal with cessation of business in the income tax return and was hoping for some advice on a couple of questions.
I worked self-employed (no registered business name) since October 2013, then moved to the Netherlands for work. But I did not cancel my registration with the revenue yet, as I wanted to leave the possibility open to come back and continue if things do not work out.
In the Netherlands I went back to employment and payed the rest of 2013 tax in Holland.
Question 1: Is there a difference for me to report the day of cessation from business October 15, December 31st or even January 1st 2014?
Question 2: Am I right to assume that if my accounts run from 01/01 to 31/12 there is no obligation/need to file profits of the previous year (2012)?
Question 3: As I lived in Ireland more than 208 days in 2012/13 I suppose I count as both resident and ordinarily resident, but not domiciled in Ireland.
Question 4: Remittance clause. Do I have to count the Dutch employment income from 2013 to my world wide income, although I have already payed taxes on that and I did not bring any income into Ireland?
Question 5: If yes is that gross or net employment income added to the Irish gross trading profits, net profits as per accounts or taxable profits?
Somebody able to help me out on this one?
I worked self-employed (no registered business name) since October 2013, then moved to the Netherlands for work. But I did not cancel my registration with the revenue yet, as I wanted to leave the possibility open to come back and continue if things do not work out.
In the Netherlands I went back to employment and payed the rest of 2013 tax in Holland.
Question 1: Is there a difference for me to report the day of cessation from business October 15, December 31st or even January 1st 2014?
Question 2: Am I right to assume that if my accounts run from 01/01 to 31/12 there is no obligation/need to file profits of the previous year (2012)?
Question 3: As I lived in Ireland more than 208 days in 2012/13 I suppose I count as both resident and ordinarily resident, but not domiciled in Ireland.
Question 4: Remittance clause. Do I have to count the Dutch employment income from 2013 to my world wide income, although I have already payed taxes on that and I did not bring any income into Ireland?
Question 5: If yes is that gross or net employment income added to the Irish gross trading profits, net profits as per accounts or taxable profits?
Somebody able to help me out on this one?