Accountants for Sole Traders

Whether you’re just starting out as a Sole Trader or have been operating as a sole trader for some time, we're here to help you with all your tax and accounting affairs. We act as a one-stop-shop designed to simplify your financial matters, including accounting, bookkeeping, and taxes, freeing up your time to earn more and grow your business!

Book a Free Consultation

You Shouldn’t Have To Run Your Business Alone

We understand the hustle, the late nights, and the sheer determination that it takes to be a sole trader. It’s often a one-person show, where you wear every hat, handle every task, and make all the decisions.

You are the business, and you’ve nurtured it from the ground up, this means you are also responsible for the tax owed, along with any debts incurred by the business. But here’s the truth: You don’t have to do it all by yourself.

At Contracting PLUS, we’re here to be that helping hand you deserve. We understand that your time is precious, and it should be spent where it matters most – growing your business, doing what you love, and excelling at what you do best.

We specialise in simplifying and managing the tax, accounting, bookkeeping and admin side of your business, keeping you compliant. We’re here to alleviate the extra weight, so you can breathe easier and invest more time in your core business activities. Our service includes online accounting software that’s made for small businesses. It allows you to easily track and claim your expenses…imagine no more lost receipts!

Advantages of being a Sole Trader

Being a Sole Trader is indeed one of the simpler ways to start a business in Ireland and it comes with its own advantages:

Customer Relationship – You build deeper, personal connections with your customers compared to a larger organisation, fostering trust and loyalty to your business as well as a better customer experience for them.
Total Control – You’re in charge of every decision – from financial matters to general business choices.
Profit Ownership – As the business owner, all profits are yours to keep.
Privacy and Success – Your financial affairs remain confidential, shielding your earnings from competitors and preserving your business’s inner workings.
Flexible Transition – Switching from a Sole Trader to a Personal Limited Company is straightforward, giving you versatility.

Operating as a Sole Trader

When operating as a Sole Trader in Ireland, it is important to keep a couple things in mind so that you can work seamlessly.

Registering as a Sole Trader – Once you decide to start business as a Sole Trader, you must inform Revenue of this decision. To register with Revenue, you can use their online service MyAccount. This is something we can do for you when you become a client.
Your Business Name – If you wish to trade under a business name as opposed to your own name, you will need to register that name with the Companies Registration Office (CRO).
Business Bank Account – We would always advise that you open a separate business account so that your personal and business finances are kept apart.
Understanding Your Tax Obligations – When considering how much you will pay in tax each year, you will need to understand that all your income is liable to tax after you account for your business expenses. Once you become a client of Contracting PLUS, all of that will be taken care of. You’ll also get a Dedicated Account Manager who will advise you on what business expenses you are eligible to claim to minimise your tax bill.

Choose Contracting PLUS because…

Whatever way you are operating, whether you’re a sole trader or a limited company, we will look after all your accounting and taxes. We’ll remove the hassle of managing your expenses, invoicing, and dealing with the Revenue. We’ll handle the boring stuff so you will have more time to focus on your work and ultimately earn more money!

You’ll get a dedicated account manager who’s available to you at the end of a phone, email or web-chat. You’ll never be ‘on the clock’!
You’ll never get surprise extra fees!
You’ll get the best tax-saving advice for your unique circumstances ensuring you maximise your financial position.
You’ll get peace of mind knowing you are in the best hands (check out what others say about us here).
You’ll know where you stand with your taxes…follow our advice and you won’t have any worries about unexpected tax bills.

and best of all

You’ll deal with friendly and helpful people who believe in, and value, independent working (we’re invested in your success and we’ll make sure you always know where you stand financially) and we even have a 60-day money-back guarantee so there’s no financial risk for you.

If you have any additional questions, please call our Consultants, there is no obligation and no charge and we would love the opportunity to help (01) 6110707

Contracting PLUS – Your Self-Employed Success Starts Here!

The Right Set Up For You

When it comes to setting up your business, the simplicity of a sole trader structure can be appealing. It’s quick and straightforward. But Sole Traders may find themselves limited in the advantages they can enjoy.

If you’re not really sure about what your different options are, read our advice . If you have any concerns or would like to check whether you are operating under the most tax efficient structure for you, simply call us for a no obligation chat. 01 6110707

A Personal Limited Company can be a great option to operate under, as it offers several benefits including:

Limited liability
Increased tax saving opportunities
Ability to build and retain wealth in the company
Employ staff
Easier to get a mortgage
Favourable Tax relief on Retirement

If these benefits are of interest to you, consider having a chat with our team on 01 6110707 about transitioning to a Personal Limited Company.

You must register for VAT if from 1st January 2024 your annual income passes the threshold of €40,000 (for supplying services) or €80,000 (for the supply of goods). You may not charge VAT or reclaim VAT on purchases unless you are registered for VAT. Sometimes, depending on your business, it can be beneficial to register for VAT even if when you’re just starting out your income might fall under these limits. We can give you the right advice here. Visit the Revenue website for more information on VAT thresholds.

It depends on your specific needs, the nature of your work, and your long-term goals. You can engage individuals to work for you as independent contractors or freelancers. These individuals are not your employees but are considered self-employed. You can contract them to provide services or complete specific tasks for your business and would be considered ad-hoc.

The Revenue site has more information on what taxes and procedures are required as an employer.

The income tax return deadline in Ireland is 31st October. We can help you submit all self–assessment income tax documents by this date. When you file your tax return late, The Revenue will add late filing penalties. Depending on your tax liability, this could add up to a substantial amount. But don’t worry your Dedicated Account Manager will remind you when it’s time to file, and we look after everything for you.

You should always know what your skill set is worth per hour. To help benchmark yourself against others in your industry you could ask around or check out rlevant reports. Ireland’s Project Economy, an annual survey completed by Trinity Business School, includes plenty of information on what rates freelancers and contractors are on in many different sectors.

Also, if you are just starting out you could use our calculators to determine how much you should charge per day.

A Sole Trader is an individual running their own business. As a Sole Trader, you and your business are considered the same legal entity. This means you’re personally responsible for any debts or legal claims against your business.
On the other hand, a Limited Company is a separate legal entity from its owner, protecting you and your business. To set up a Personal Limited Company contact us on (01) 611 0707.

Looks Like you're visiting from India

Would you like to be redirected to our Indian website?

View India Site