Cease as Sole Trader

B

BlueToes

Guest
Hi,

Having operated as a sole trader for approx the last year i have now taken up a good job offer and wish to cease as a sole trader.
I can find plenty of info. about starting up but none about how to end it. Can anyone advise me how i go about informing the revenue i am no longer trading and end the need for vat and tax returns etc.

Many Thanks
 
You should write to your local Revenue district office and request that they cease your VAT registration. I don't think you need worry about the self-employment income on your tax returns once you've filed for 2006. You may still have to file a tax return every year, of course, if you hae additional income (rental income for example) which requires a tax return.
 
extopia said:
I don't think you need worry about the self-employment income on your tax returns once you've filed for 2006.
Click to expand...
Sorry, I don't understand. Of course all self-employment income must be included on tax returns up to the date of cessation, in this case 2007
 
As well as notifying Revenue of cessation of business, if you have registered a business name with CRO, you will need to notify them as well by filing an RBN3 form which can be downloaded from [broken link removed]

Best of luck with the new job

RedStix
 
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