Comments for Running a Business in Ireland

Comment on Registering as a Sole Trader by Orla Linehan

Orla Linehan — Wed, 31 Aug 2011 11:17:47 +0000

Hi Sorley,

I’ve sent you a mail about this.

Best regards,

Orla

Comment on Sole Trader v Limited Company by Bernadett

Bernadett — Tue, 30 Aug 2011 18:44:04 +0000

Hi Orla,

Thank you for your answer.
Will it obligatory to pay after himself the contribution? or how does it work if he get a money from the firm?
Thank you!
Bernadett

Comment on Supply of Goods and Services to other EU countries by Louisa

Louisa — Tue, 30 Aug 2011 11:04:31 +0000

Thanks for that Orla.

Comment on Sole Trader v Limited Company by Orla Linehan

Orla Linehan — Tue, 30 Aug 2011 10:10:22 +0000

Hi Bernadette,

I am not sure where he got the information but income tax is payable in the first year of business (if a profit is made). There may be some confusion with the extended deadline for filing the first return, whereby you can file your first and second income tax returns together, provided you have no other sources of income, e.g rental income. This can be an advantage in that you extra time to file your paperwork. However, the extended deadline can seem so far away that some sole traders don’t save sufficient funds to pay the double tax bill that will arise.

Best regards,

Orla

Comment on Mileage and Subsistence Rates by Gillian

Gillian — Sat, 27 Aug 2011 16:01:45 +0000

Hi Orla

I am currently receiving a car allowance of €7K per annum along with a fuel card. I am paying tax and prsi on the car allowance and also BIK on any fuel used for personal use. My question is i am currently doing an average of 5,000km per month and feel that my allowance is not covering the overall depreciation of my car which is a 2008 Passat along with paying for servicing/tax/insurance/tyres.

You advise is welcome.

Thanks

Gillian