When you carry on business in your own name you pay your tax based on the profit made by your business. You must prepare accounts and determine your profit for a twelvemonth period ending in the tax year. Our calculators for the self employed do the calculations for you.
Your taxable profit is the actual profit earned and not what you actually pay yourself from the business. The calculation of your profit will depend on how complicated your business affairs are. This section of our site is primarily intended for small businesses which do not require a complicated accounting structure e.g. self employed commission agents, employees of foreign companies not liable for Irish PAYE, self employed tradesmen, freelance sales people etc.