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Where you decide to operate as a sole trade, you make the decision to run the business yourself. The incoming profits of the business belong to you and you are personally responsible for any debts or liabilities that the business incurs.

Sole Trader/Farmer

A sole trader is the simplest form of business in Ireland. When you decide to operate as a sole trader, it refers to one individual who owns and operates a business in their own name/business name. A sole trader can have employees to assist with the running of the business, but it is the sole trader who owns the business, taking all the risks and rewards.

accountancy for solo traders and farmers


Farmers and farm partnerships have a legal duty to make a tax return every year. Failure to submit your tax return by 31 October after the end of the tax year will result in a surcharge and interest being added to your liability. A husband and wife may file the tax return as a partnership. Adult children who assist in running the farm may also be included in the partnership. Over half of Irish farmers are over 55 years of age. Farm succession planning is probably the most important decision a farmer needs to make about the future. Farm succession planning involves the transfer of the ownership and management of the farm to the identified successor. The transfer can be carried out on a phased basis and there are some generous tax reliefs available. If a prospective successor exists there are important factors that need to be considered and should be approached on a step by step process. We can advise on taxation and succession planning. Pension planning is also a most important consideration for the farmer and spouse. The number of PRSI contributions made over a working life will determine the amount of state pension you will receive. A prudent farmer will also want to provide for a private pension to supplement the state pension. We can point you in the right direction for advice on pensions, life insurance or mortgage/loan protection.

Registration & Taxes For Sole Traders

Registration & Taxes

One of the first considerations for a sole trader is what taxes they need to register for and when they need to do this. You may be required to register for any or all of the following:

  • Income Tax
  • VAT
  • PAYE
  • RCT
  • CRO
We can advise you on which taxes you must register for and help with the registration process.

Records & Accounts For Sole Traders

Records & Accounts

Keeping accurate books and records is the cornerstone of running a successful business. We can help you with this time consuming area by providing advice and services in the following:

  • Book keeping Services
  • Record Keeping – Kits and Templates
  • Payroll Services
  • Prepare accounts for filing
  • Software

Filings and Returns for Sole Traders

Filings & Returns

A major part of any successful business is keeping on top of your filing requirements and ensuring that you are compliant with all the relevant authorities.

This can be very time consuming and can take you away from your main aim of growing your business. We can help you remain compliant and on the right side of the taxman.

    Returns that may need to be filed include:
  • VAT Returns
  • P30 & P35 Returns
  • RCT Returns
  • Income Tax Returns

Planning and Growth for Sole Traders

Planning & Growth

Even when you are only starting out it pays to plan for the future. We can help you through the different stages of your businesses development from start up to growth to exit strategies.

    Some of the things to consider are:
  • Conversion to a Company
  • Exit Strategy
  • Pension Planning
  • Company Directors' Pension Opportunities
  • R&D Credits

Dealing with Revenue for Sole Traders

Dealing with Revenue

While it may not be welcome, dealing with the Revenue Commissioners is an unavoidable fact of life for all business owners.

Apart from general filing requirements some of the other reasons you may have contact with Revenue are:

  • Revenue Audits
  • General Queries from Revenue
  • Late filings or payment of Returns
  • Tax Clearance Issues

We have vast experience of dealing with Revenue in relation to a wide range of issues and can help your business communicate effectively with them.

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Flexible Payment Options

Flexible Payment Options




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