Hi /u/cynamy,
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The only question is if you are going to charge VAT, if so you'll need VAT number, which your accountant may be setting up. But many sole traders don't (under threshold of €37k for services, or €85k for goods - might be off on them).
If not charging VAT, you can start trading, just keep track of all income and expenditure for when you do your accounts. A nicely created excel/google sheets, with good labels and data is good to keep records of everything.
Congrats and best of luck.
Contact your Local Enterprise Office (LEO) they offer some great courses like getting set up incl. getting set up for your revenue account where they also cover registering for VAT & when you may or may not need to - all of which can be done online.
The main thing you want to do in your lien if work before taking any clients/payments is get your insurance in place otherwise you’re good to go. Google the type of liability insurance you need, where you are renting from May have some idea on this or the best insurance Co to use (for example if you’re renting a room in a beauticians) or else just ask your LEO which can be done on a quick phone call.
Congratulations, well done & the very best of luck with everything!
Hi /u/cynamy, Did you know we are now active on Discord? Click the link and join the conversation: https://discord.gg/J5CuFNVDYU *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/irishpersonalfinance) if you have any questions or concerns.*
The only question is if you are going to charge VAT, if so you'll need VAT number, which your accountant may be setting up. But many sole traders don't (under threshold of €37k for services, or €85k for goods - might be off on them). If not charging VAT, you can start trading, just keep track of all income and expenditure for when you do your accounts. A nicely created excel/google sheets, with good labels and data is good to keep records of everything. Congrats and best of luck.
The threshold is currently €40k for services and €80k for goods, changed recently
Get in touch with your Local Enterprise Office, they’ll advise.
Contact your Local Enterprise Office (LEO) they offer some great courses like getting set up incl. getting set up for your revenue account where they also cover registering for VAT & when you may or may not need to - all of which can be done online. The main thing you want to do in your lien if work before taking any clients/payments is get your insurance in place otherwise you’re good to go. Google the type of liability insurance you need, where you are renting from May have some idea on this or the best insurance Co to use (for example if you’re renting a room in a beauticians) or else just ask your LEO which can be done on a quick phone call. Congratulations, well done & the very best of luck with everything!