Setting up a business - Help please!

J

JERRY321

Registered User
Messages
12
Hi,
I'm hoping someone out there may be able to help me.

I was made redundant in February '09 and, rather than sitting around doing nothing, I am attempting to set up a business. My business idea has been well received by prospective customers and there is nothing like it in Ireland at the moment, so I feel happy enough to go ahead with it. However I need a little advice, if you can help me at all!

(1) Since Feb '09 I have been receiving Jobseekers Benefit. There seems to be a Back-to-Work Scheme which helps unemployed people set up a business but I keep getting conflicting information. Would I qualify for this?

(2) Most of the products I will be supplying will be procured from the UK. However most of my customers will either not be registered for VAT or may even be charity-status. Also, a small quantity of my products will be at 0% VAT rate. Should I register for VAT?

(3) One small area of the products I will be offering will be wine. I am anticipating it will be sold as single cases of 12 bottles each time. It is a very specialised type of wine and will be brought in from the UK. I have consulted an accountant, but am none the wiser! I know there is a lot of legal paperwork to complete before I can bring it in, but if anyone could give me a simple outline of what needs to be done, I'd be very grateful!

Sorry for all the questions! These questions have been rolling round my head since I had a meeting with an accountant. I now find myself more confused than ever! If any of you know of an accountant that speaks normal english in the Dublin 8/12 area, I would be forever grateful!!!!
 
Point 2: If you are selling goods and your annual turnover exceeds €75K then you are legally obliged to register for VAT and charge VAT to all customers in Ireland.

Sorry I can't help with your other questions
 
Hi

Answers as follows

1) There is the the shortterm enterprise allowance that allows you to attempt to set up a business on your own. You will receive effectively the same as your jobseakers benefit. Your best shot is to go visit your local employment partnership and arrange an appointment. It is very true that many people in the department of social welfare do not know anything about this scheme. This is a situation which I find totally disgracefull.

2) DB74 is essentially correct. If you are supplying more then 90% goods then the registration threshold is 75k. Note that if the percentage goods is lees then 90% then the registration threshold is 37.5k

3) I am not exactly clear about what it is you are asking here so please let me know what you mean by it and I will do my best.

If you need further specific information please pm me.


Regards


DB
 
JERRY321 said:
... (3) One small area of the products I will be offering will be wine. I am anticipating it will be sold as single cases of 12 bottles each time. It is a very specialised type of wine and will be brought in from the UK...
Click to expand...
I believe under the terms of one of the INTOXICATING LIQUOR ACTs (2008 / 2009 ?) you will be obliged to apply for and hold a beer and wine wholesaler's licence (this is different to a supermarket licence for off-sales or restaurant / pub licence for on-sales)
 
Thank you for all your advice!

DB74: I'd love to think my turnover will be €75k in the first year but I reckon I should set my sights a little lower! It's good to know €75k is the threshold though.

Dbran: Thank you very much for those replies! I have contact my local enterprise partnership and am hoping they'll reply to my 17th message now (must come from the same stables as the social welfare!!!)

Mathepac: Thank you, thank you, thank you! I'm not operating a pub / restaurant / supermarket but everyone official I talk to keeps thinking I am! At least now I reckon its a wholesalers licence I should be looking for!
 
Suggest you visit your local County Enterprise Board & ask to be assigned a Business Mentor or enrol in their SYOB (start your own business) course. All your questions & lots more can be addressed.
 
Hi,

You will need to apply to revenue for a tax clearance cert firstly in order to show that you are compliant tax wise. Then you apply for the wholesalers licence which is relatively straightforward. After a period trading you will have established a record with the taxman and you can look at an ex bond arrangement.

one piece of advice though, get to know the people within the sections you are applying to, it can be a huge advantage to have a contact person instead of " press 1 for..press 2 for.. " etc also by being proactive in dealing with them you gain a certain amount of standing with them

Best of luck,

Westgolf
 
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