Sorry, none of that makes an ounce of sense to me at all. And, if I've understood correctly, I'll be taxed at the rate of 20% on what I make.
:-( I guess, I won't bother declaring whatever I've earned up to now, since it all went into a private account anyway, and ask my clients to pay me into my business account as soon as I set one up.
As a self-employed, I don't get audited anyhow, or do I?
I know, I'm clueless but I have to learn!
I can only say again, as others have, you really need an accountant.
Can anyone recommend me a multilingual one?
and tell me when the audit thing i usually done?
Thanks a million for your help. Everything's much clearer now.As mentioned Revenue Audit is part of the normal checking procedures of self-assessment. It is not the same as an audit of a company which is governed by company law. Revenue audits are Revenue's way of confirming that self-assessment is working properly. They are generally random or come from specific information. They are not automatic. You ( or preferably your accountant) prepares and submits your returns to Revenue from the information kept by you in either English or Irish only , remember it is Ireland you are filing in and the rules of this jurisdiction, not those of your clients are what apply. Revenue have the right to check that at any time to verify if it is correct.
My final contribution to this thread would be to again ask you to get all your questions sorted by going to an accountant. An hour of a professionals time will save you untold hours of uncertainty and, ultimately, €uros .