Sole Trader...starter pack

A

artdes

Registered User
Messages
15
Hello.
I commenced trading as Sole Trader on 10th November 2009 and recently registered with ROS.
I intend to complete and submit Pay & File myself and as this is my first venture at self employment I studied the Start in Business & Form 11e...great bedtime reading!! Can someone please advise,
1. Do I submit a return for Nov & Dec 09 in this coming deadline ..31st Oct 2010?
2. Should I also submit a payment (or a preliminary payment) for Jan to Dec 2010 in this coming period 31st Oct 2010?
3. I purchased a new Laptop & Printer in Aug 2009, can I include this as a start up expense or are they treated as capital expenditure and therefore broken down in to 12.5% over 8 years?

Thanks in advance...
 

1. You can or you can wait and do it next year (14 month set of accounts or year set for whatever year end you pick), IIRC it is a concessionary benefit given by the revenue to traders for their first year in business.
2. Yes
3. Capital and only 2/12's of 12.5% for 2009 (has to match the lenght of the accounting period you are submitting the income for)
 
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