Sole Trader Advice
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DAC7 (Directive 2021/514) is part of the EU’s broader tax cooperation strategy. It makes platforms (like Airbnb, Etsy, Vinted, Depop, and Fiverr) report certain income and key details of sellers on the platforms. Full Revenue guidance: Part 38-03-31 – Guidance on reporting obligations of Platform Operators How Does This Affect Creators, Influencers & Side-Hustlers?… Read more
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If you’re setting up a new business and haven’t yet made any sales, you might assume VAT registration isn’t relevant yet. You can register for VAT Pre-revenue Brace yourself, we’re getting into case law. Under Irish and EU VAT law, a business can register for VAT before generating revenue, provided it can demonstrate a genuine… Read more
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If you sell on platforms like Vinted, Depop, or Instagram, and your income from these sources is less than €5,000 in a tax year, you may not need to register for self-assessment. Instead, you can declare this income through a Form 12 via PAYE services on Revenue’s MyAccount. However, there are a few important pitfalls… Read more
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“Should I register for VAT, even if I’m under the threshold?” This is another question I hear a lot. The answer, as always, depends on your business, but here’s a plain-English overview to help you weigh it up. In Ireland, you only have to register for VAT if your turnover exceeds: When Revenue assesses whether… Read more
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I thought I’d start off with the question new business owners ask me all the time… “Should I incorporate or trade as a sole trader?” It depends. I’m sorry… it does. This is one of the most common questions when starting a business.. The choice between sole trader and limited company has important implications for… Read more
Lisa Lokasto 