Sole trader and tax questions

Hi guys,

Here is my situation:

I currently work a full time P.A.Y.E job

In 2014 I bought some training courses on how to make money online and its really starting to pay off now. I made no money online in 2014 but made some in 2015.

Only this week I started to rent out a room in my property (I'm aware this is tax free but must still be declared)

Here are my questions and I hope someone can help:

1) Do I have to register as a sole trader and would I do this myself or is it generally something an accountant would do for a client?

2) Considering I have 3 income streams now (Job+Rent a room money+Income earned online), when will my first tax return be due?

3) Will I be able to claim the training courses I purchased in 2014 as expenses even though I didn't make any money online until 2015

4) What is a ballpark figure I should pay an account to file my tax return for the income described above? (I have kept excellent records of everything)

I hope someone can help, I would really appreciate it

Thanks guys

Alan

anybody guys?

Here are my questions and I hope someone can help:

1) Do I have to register as a sole trader and would I do this myself or is it generally something an accountant would do for a client?
usually an accountant would do it but you can do it yourself.
2) Considering I have 3 income streams now (Job+Rent a room money+Income earned online), when will my first tax return be due?
when you commence a trade you get an extra 12 months to file your return so commence in 2014 due 31.10.16.

3) Will I be able to claim the training courses I purchased in 2014 as expenses even though I didn't make any money online until 2015. are they in the nature of a business expense - probably not as they put you in a position to start a business.

4) What is a ballpark figure I should pay an account to file my tax return for the income described above? (I have kept excellent records of everything)
€500 plus VAT

Why not pop into the Revenue and ask for help?

Green said:

Why not pop into the Revenue and ask for help?

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Because Revenue are in the tax collection business, not the advice business. Besides they routinely disclaim any responsibility for the consequences of incorrect or bad "advice" given by their staff. Caveat emptor.

I would be inclined to think the courses you did were an allowable expense, if they were solely for the purpose of starting a business. I did a SYOB course and we were advised that we could include the cost in our pre trading expenses