Is the 31st October applicable to us as sole traders to send in all our wheelings and dealing? I have only been up and running for a few months and dont think I have made any profit yet.
Is it possible to do your own tax and send it off?
Do i sent it off to the revenue office of whats the story? thanks paddy
In my opinion it is well worth getting an accountant to advise. When you first set up or even beforehand think about the questions you want to ask, get an accountant ( preferably through personal recommendation) in for a consultation. They may even send a bookkeeper instead, since at this stage you really need to know how to practically do your book keeping for the year, when you need to file returns and so on. They may recommend a particular computerised system that they are familiar with and which is suitable for you, though of course you could just use excel or indeed paper. Two hours or so spent with an accountant at the outset will set you up properly for the year, then if you can keep your books yourself properly during the year your accountant should be able to do your returns for you at a minimal cost. It really is great peace of mind to have someone at the end of a phone if you are stuck and to know that your returns are as tax effecient as possible. Not only can a good accountant just do your returns properly but they will be able to give you advice on tax planning over the long term.
I am also looking into registering with ros.ie (revenue online) as I believe you get until NOv 31st to make returns and can do it all online.
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