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Thread: Income Tax - registering a small business

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    Income Tax - registering a small business

    I have been running a very small business operation out of my garage for the passed three years. I haven't been paying any income TAX and sadly my books were not kept up to date. I would now like to get things sorted out so that I can register my business and move forward.

    Any advice on my position and the way forward?

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    Some folks I've come across in this sort of position just say they were mostly unemployed, with occasional odd jobs - and give some sort of income figure. What you can get away with depends on what's obvious and traceable. What's been going through the bank accounts, the rent and expected overhead expenditure.

    As a problem it's not going to go away. The sooner it's tackled, the better.
    And at least the voluntary disclosure program has become a fixture, so there's a fair chance you might not be in for penalties and interest.
    The trouble with opportunity is it normally comes dressed up as work.

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