Starting a Tax Back company. Advice needed.

M

Myuser01

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I'm a web entrepreneur in the process of starting an online Tax rebate service in Ireland. Similar to TaxBack DOT com.

I've done some study on tax regulations in Ireland, I've been in touch with Revenue and I've studied the application process and guidelines to apply for a TAIN (Tax Agent Identification Number).

I've picked a company name. I'm developing the site. I've registered the business with the CRO as a sole trader. I'll be bootstrapping the business at the start.

I'm tying the loose ends together. I've talked to a Tax Accountant already briefly, however I'd like to consult with someone more experience in this field.

I have some basic questions about requesting a Statement of Liability and the day-to-day workflow of such a company. I'm a Business, Tech and Marketing guy on the Web, so that's what I bring to the table. I'm not a Tax Accountant.

I need initial advice and possibly a follow-on direct consultation. What pitfalls are there when running this type of enterprise? I'll be a new entry in the industry, albeit with a fresh approach to marketing.

Any advice?
 
Thanks. Agreed.

I'm looking for someone who knows this area really well and is available for a consultation.
 
Thanks for the advice guys. I don't wish to hijack my own thread discussing the finer points of business strategy. I have it in-hand.

Just looking for a Tax Pro with experience in this area who's available for consultation work.
 
Myuser01 said:
I have some basic questions about requesting a Statement of Liability and the day-to-day workflow of such a company. I'm a Business, Tech and Marketing guy on the Web, so that's what I bring to the table. I'm not a Tax Accountant.
Click to expand...

I don't see that you're bringing anything of value to the table for a potential customer
 
Brendan Burgess said:
Head hunt someone from taxback
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Unless it's someone senior, I'd be slow to back that suggestion, tbh.

My own previous experiences with that operation was poor - bad customer service, across 3-4 of their staff.

That said, they probably have the lions share of the market, for people looking to outsource the process, on a budget, so I agree with Mr. McGibney's comments above.
 
Actually, I will go further.

If you are interested in such a business, get a job with taxback and find out how it works. But check the employment contract first to make sure it does not bar you from setting up on your own.

Brendan
 
Thanks guys. I've a follow-on question.

The biggest obstacle for client uptake in this niche is establishing trust & credibility.

I have a few thoughts on this, but if anyone has any ideas for a new entry in the market I'd love to hear them?
 
Im not sure I fully agree, but I do understand, the arguments that OP can not do this without his own personal experience of tax.

There are plenty of techy brains, website types, who can make a lot of money providing platforms and ecosystems. OP has been pretty transparent in saying tech and marketing is his strength, they can potentially secure the knowledge required via a consultant or employee - a consultant may make a lot of sense, as could cost less than a full time employee at the level needed, can be ramped up and down, can be changed for different niche questions.
 
Worth talking to your Local Enterprise Office as they can give guidance and support in terms of starting up and running a business. They also provide grant aid so worth considering, albeit you will need to show your business plan.
 
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