advice please re business start up

M

monkey brain

Guest
Hi there,

Myself and my boyfriend are both in full time employment however in a large amount of debt. We dont have a mortgage and are renting. We are thinking about starting up a mobile catering business as a part time venture this summer and for rest of the year. We will remain in our jobs if and see this as part time to try and tackle our debt. We plan to work weekends on it attending festivals . What i am unsure of is where to we start with the legal aspects and tax implications. Do we need to register it as a business? will we be taxed on top of our wage or is it seperate? any advice on the basics would be great, thanks.
 
This link will help with the safety of food issues. [broken link removed]

You can register the business name with CRO.ie

You will need insurance, contact IOMST http://www.eventsmarketsireland.com/membership/

Any profit you will make will be taxed over and above your own income. The tax on the business will be due in Oct 31st each year.

Good luck
 
I am not a frequent poster so cannot upload links for you here, but take a look at the on-line citizens advice/information website and also the Irish government’s Oasis website. Lots of useful free stuff there.

Mores specifically, I would recommend that if your business name is other than your own name, you need to register that name with the Companies Registration Office. Since there are two of you, I cannot see how you can avoid registering a business name. It involves a once off process for unincorporated businesses such as partnerships (cost is Euro 20 from memory) to register a business name. This will also allow you to get a relevant dot ie domain name should you wish (must easier process than applying for a discretionary dot ie domain name).

If you are going to run the business as a company (as opposed to a partnership or a sole trader with one of you employing the other), you must register the company with CRO. See its website for sole traders, partnerships and company businesses. Don't scrimp on getting advice. A good accountant used at the start of your enterprise is often the best investment you can make (disclosure - I am not an accountant, but mine have been really good and have offered practical advice including tips on bookkeeping etc and of course tax registration e.g. VAT, corporation tax and PRSI). Just remember that if you go down the company path, although you get the privilege of limited liability you also have the obligations of on-going filing requirements.
 
Hi folks,

sorry i just seen the replies there! thanks for the advice, there is a bit more to consider than i thought so will have to get researching!
 
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