Tag Archives: self employed

What is preliminary tax and why is it so important?

If you’re going to be doing a self-employed tax return, then you need to be prepared for preliminary tax. The reason it’s so important to factor into your thinking is because you actually pay it in advance of the following tax year and there are penalties if you don’t. While this might sound a bit… Read More

A simple guide to 2018 tax legislation for the self-employed

  For self-employed workers, it is important to ensure keeping up – to – date with any tax changes coming into the new year. There are a number of important tax updates in 2018 that will impact self – employed workers. If you are thinking about registering as a self-employed business, want to know how… Read More

Self-employed? Find out how to file your tax returns

Filing your tax returns can seem like a daunting prospect—there is much conflicting information online about tax returns for self-employed people. In fact, it can be difficult to know the circumstances under which the law stipulates that you need to file your own tax return. You want to ensure that you are paying the amount… Read More

10 Tax Deductions the Self-Employed in Ireland can claim

If you’re self-employed (i.e. you work for yourself instead of an employer) or receive income from non-PAYE sources, you must register for self-assessment with Revenue. Self-assessment is where you calculate the income tax you owe for the tax year yourself, and it needs to be done every year when you file your tax returns. Fortunately,… Read More

Newly Self-Employed? How To Register for Self-Assessment

Becoming self-employed for the first time can be an exciting, challenging and anxious transition—particularly when it comes to calculating and paying your tax liability for the first year. If you were previously a PAYE employee, you relied on the straightforward pay-as-you-earn (PAYE) tax system to take care of your tax liability for you. Now that… Read More

What is Self-Assessment?

All self-employed people, including individuals with revenue streams from all sources e.g. rental income and foreign investments, must make a self-assessment to Revenue. While it’s easy to see self-assessment in a negative light, the self-assessment process can actually give you greater control over your taxes and empower you to better manage your business-related finances. Share:TwitterGoogle+Facebook

Filing your self-assessment tax return – important rules to note

Are you preparing to file a tax return? For many small business owners, sole traders and landlords, filing a tax return can prove a troublesome process. There are just so many documents to gather, financial figures to note and deadlines to meet. There’s also a lot of different “rules” to contend with which can cause… Read More

Business Expenses You Can Claim on Your Income Tax Return

Did you know that self-employed individuals can get tax relief on business expenses paid by them to help earn a profit?  To do so, all you need to do is keep all of your receipts and invoices for a period for six years. (We recommend setting aside a folder just for this.) Records to keep… Read More