Being self-employed is a very common legal structure used in Ireland to operate a business. In 2020, self-employed people accounted for 14.75% of all of those employed in Ireland.
The registration process for being self-employed is very simple and can be done through ROS.ie. There are a number of benefits of being self-employed, particularly if you are already an employee through the PAYE system. One of the biggest is being able to offset your self-employed losses against your employee income. It’s also very easy to stop being self employed. This can be done through ROS.ie.
You do not need to register as being self-employed if your non PAYE income is less than €5,000 and your PAYE income is less than €30,000.
To register as being self-employed in Ireland you simply register on ROS.ie. For this you will need a PPS number. Go to ROS.ie and click on “Register for ROS” and then “Apply for your RAN”.
On the next screen select “An individual or company” and from the drop select “Income Tax”. Enter your PPS number in the “Registration Number” field. Complete the rest of the steps as indicated.
There are a number of benefits of being self-employed in Ireland:
Here is a list (which is not exhaustive) of the expenses you can claim in Ireland if you are self-employed. We’ve tried to focus on some of the more obscure items. In general, any cost which arises as a result of engaging in business can be expensed.
There are a few exceptions which are not so obvious.
To stop being self-employed is relatively straight forward if you don’t have a complex business. You simply log onto ROS.ie, go to “Other services” and click “Manage Tax Registrations”. From here you can click on “Cease Registration” for Income Tax.
If you have registered for VAT you’ll also need to cancel this. You will also need to complete any outstanding returns.
If you don’t have access to ROS.ie you’ll need to complete a TRCN1.