I started self-employment during the year. How do I prepare accounts?

When you start during the year, you prepare accounts from your start date to the end of your chosen accounting period—usually 31 December.

For your first tax year, you’re taxed on the actual profit earned from your start date to 31 December.

Example:

• Start date: 1 October 2025
• End of tax year: 31 December 2025
• Profits during this time: €6,000
• Taxable profits for 2025 = €6,000

In the second year (2026), you’ll be taxed on profits for the full 12 months ending 31 December 2026.

If your accounting date doesn’t align with the tax year, special rules apply—and you may have overlap profits. Our team of experts can help you in this scenario.