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IT | Income Tax Registration for Sole Traders

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Sole Trader and Self-employed Revenue Registration in Ireland

When you start working for yourself or decide to set up a business on your own, you are considered self-employed or a sole trader.  Is there a difference? There’s not really much. Whether you call yourself a sole trader or self-employed, the concept is the same: you’re running your own show! A sole trader is one of the major legal frameworks alongside partnership and limited companies. The term sole trader and self-employed applies to many types of businesses whether you are a freelance copywriter or provide any other kind of freelance services, run an online shop, work as an independent plumber, etc. 

As a sole trader, you are responsible for all your business losses and are expected to pay taxes on your own profits. So how to Sole Trader registration with Revenue 

How to Register as a Sole Trader/ Self-Employed in Ireland

A sole trader is the simplest business structure with very little paperwork needed to get started. Before registering for tax, you must obtain a PPSN (Personal Public Service Number). This is a unique reference number needed for dealing with all public services and agencies including Revenue. To obtain PPSN in Ireland both Irish citizens and non-residents need to apply for the Department of Social Protection. 

Your TRN (Tax Registration Number) will be the same as PPSN. 

With Revenue’s eRegistration service, sole traders can easily handle their tax registration online – saving time and reducing paperwork.  ERegistration is cheaper, faster, and more efficient than submitting a paper application. Non-residents of Ireland will need to complete a special Form TR1 (FT) to register for Revenue as sole traders. 

What Taxes Sole Traders Pay?

Sole traders/self-employed pay Class S PRSI contributions. These are paid at a rate of 4% for sole traders earning €5,000 annually or €500 depending on your annual income. Individuals whose annual income from self-employment are less than €5,000, are exempt from paying Class S PRSI. Still, they are welcome to contribute €500 on a voluntary basis. 

If you’re looking for a detailed look at tax obligations for sole traders, this sole trader tax guide is all you need. We surface the current rates of key taxes sole traders should pay in Ireland.

Ready to Launch Your Business Without the Hassle? Let Chern&CO Handle your Sole Trader Registration.

Registering for revenue as a sole trader may seem a piece of cake. In reality, navigating the registration process can be tricky. Why not let experts guide you through it, ensuring a smooth start to your business journey? Let Chern & Co specialists unlock a hassle-free registration experience for just €250. Say goodbye to complex paperwork and hello to professional guidance!

Have questions? Our experienced team is here to help. Schedule a no-obligation consultation today!  

IT | Income Tax Registration for Sole Traders

250 excl. VAT

What’s Included:

  • Assistance with preparation
  • Filing all the necessary documents for Income Tax registration

What You Need To Know

Frequently Asked Questions

Setting up a company in Ireland carries plenty of benefits. These are the smooth process of annual returns submission, low Ireland corporate tax rate (lowest in the EU), official documentation in English, access to the European market, the brilliant reputation of Ireland as a business-friendly country, availability of progressive and educated workforce.

It takes just a few hours to fill in and prepare necessary company documents and forms. Once documents are submitted to the CRO, it usually takes 3-5 days to issue a company registration number. Due to the impact of Covid-19, the Companies Registration Office may process applications for up to 2 weeks.

Yes, there is no need to physically come to Ireland to set up a company. Certainly, you are more than welcome to visit the country. It’s beautiful! Forms are uploaded digitally using scanned pdf files of original signatures. Please note, CRO does not accept digital signatures done by typing a name or drawing a signature.

A company is a legal entity separate and distinct from those who own or run it. In order to incorporate a company a Form A1 shall be filled in and submitted together with a Constitution to the Registrar of Companies with scanned signed originals. Anyone can register a company themselves. However, it is advised to use a professional to ensure compliance with the Companies Act 2014. Each company must have a director and a secretary, must carry business in the state and have a registered office address in Ireland.

Limited company is a separate entity from a legal person. Ltd companies are limited by shares. If business is liquidated, the company’s liabilities are treated separately to those of its shareholders and directors, in a way, protecting them from debt and financial losses of the business itself. Partnerships, on the other hand, have limited and unlimited partners who are treated as legal persons. Unlimited partners are responsible for all debt and liabilities accrued by the business.

A company can be closed or wound up by a process called Voluntary Strike-Off. This is a quick and easy way to dissolve the company without any consequences for the founders and directors. Both trading and non-trading companies can be closed. The main criteria for eligibility would be no debts and no assets above €150. If this condition is not met, the company shall be liquidated or will be struck off the register by CRO by a process called Involuntary Strike Off with possibility of fine. Book in a free consultation to discuss winding up of your company.

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Chern & Co team offers Registered Office Address, Business Address, Company Secretary, Nominee Director, Nominee Shareholder and other professional services to international customers who need to set up a branch or present in the European Union.


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