Hi....
I moved from Ireland to the USA in January 2007. Up until that point I was a self employed sole trader (not a registered company), no vat, mortgage or anything too complicated.... but does anybody know the requirements to state 'cessation of trade' in the Form 11 income tax return. I don't know if this applies to me as I may return to Ireland in a couple of years....from my very basic reading of the TCA (section 67(1)a(that seems to indicate I have either died or permanently retired from my profession, which I have not....I have just moved location (and from 2007 onwards will not be paying Irish tax). My trade still continues, elsewhere. Right?
Another reason this is important is that if I tick that box then I have to make all sorts of adjustments back to 2006. (My accounting year runs from April 1 to March 31 following year)
Otherwise I can just submit my usual April to March accounts and just say I have zero Irish income after January.
Also...assuming I can do this.... in 2008, I will have no (Irish) income to report. Do I have to file a return then or not?
Thanks!
Kevin