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You can register a buisness name for a sole trader (Form RBN1) on-line at companies registration office.ie fee 25euro You are not reqiured to do this It is a personal choice Its simply a buisness name ie Joe Bloggs T|A The Village Diner The main thing is to register with the revenue as a sole trader which is done in your own name The trading name or buisness name rgistration is optional
Not so RonanC anyone wishing to trade as a sole trader is quiet entitled to do so under their own name thereby having nothing whatsoever to do with buisness names or buisness name registration
[broken link removed]Registration of a business name is obligatory if any individual or partnership (whether composed of individuals or bodies corporate or any combination of both) or any body corporate carries on business under a name other than their own true names.
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I also registered the trading name to protect it - meaning nobody else can use it in this country.
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You don't have to register for VAT straight way until you pass the thresholds
If you don't need to register for VAT then don't.
Yes there are circumstances that benefit you, but having being trading for 23 years with a VAT number for a lot of them, I have yet to see the glaring benefit to register for VAT when setting up. So all and all I would say it's circumstance and would still not recommend it unless you need it.
The most obvious situation would be where your customers have full VAT recoverabilty on purchases and you have significant investment in equipment to make.
Yes there are circumstances that benefit you, but having being trading for 23 years with a VAT number for a lot of them, I have yet to see the glaring benefit to register for VAT when setting up. So all and all I would say it's circumstance and would still not recommend it unless you need it.
Not true, it is nothing to do with the customers VAT recoverability. The traders recoverability needs to be considered in this case the OP. i.e. if the OP business cannot recover VAT then it would be pointless registering early.
You're missing the point.
If the customer can reclaim the VAT then the VAT doesn't effect the price paid by that customer. If the customer cannot reclaim the VAT then the VAT becomes part of the price paid. Therefore, the type of customer should influence a decision on whether or not to register early.
Yes. However, for marketing/other reasons some traders may have a preference to trade under a name other than their own. payments to the business may be made to the trading name. In order to transact cheques/payments to a trading name a bank will require a copy of the Business Name Registration Cert.other than their own true names Point being an individual can operate as a sole trader using their own name & as previously stated have nothing to do whatsoever with buisness name registration This registration is becoming more obsolete by the day as the once limited protection it offered (to the name) has now been all but eroded. It boils down to a personal choice
This registration is becoming more obsolete by the day
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