What's the deal with being self-employed? (1 Viewer)

I've done this recently, set up as a sole trader. You should keep expense receipts for anything business related e.g. transport, equipment etc. If you register for VAT then I think you can claim the VAT back on these and also write them off against your income tax. I haven't registered for VAT yet so i'm just gonna write them off as expenses against my income tax liability. You don't need to register (or charge) for VAT unless you earn over 37,500 providing a service or 75,000 if selling goods.
 
I'm considering going down this road

Do the sole traders here do all their own accounting?

I haven't a clue about any of this stuff

If I register as a sole trader or as self employed am I automatically cut off from social welfare for ever?
 

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Lau (Unplugged)
The Sugar Club
8 Leeson Street Lower, Saint Kevin's, Dublin 2, D02 ET97, Ireland

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