Contract for Services

gom

Hi,

I am about to engage on a whole new exciting frontier.Fought and won a contract to provide a once off large scale publication for a charity.

Heres the problem. They asked me to write up a contract and I was a bit lost. Sat down and read up on contract law. Wrote a contract. Got some folks to proof read it(not a consultant or account however). The contract I wrote could be better, but I belief it to be a good solid balance for my needs and theirs.
Also, I have never worked on contract before. I do belief that this is a Contract for Services and not a Contract of Service as I will be carrying out the task as a Consultant to the firm/charity in question.

Here are my questions:
1. Where do I stand in the tax situation? I am a consultant(never done it before) but not a company... What must I do?
2. Do I have to register with anyone? the Revenue no doubt but as what?

As you can see I am in uncharted waters(personally). Any help would be greatful

Victor

gom wrote:

Also, I have never worked on contract before. I do belief that this is a Contract for Services and not a Contract of Service as I will be carrying out the task as a Consultant to the firm/charity in question.

Correct, it is a Contract for Services. For someone unsure of themselves, perhaps you are getting into too much detail. KISS - "Keep it simple, stupid."

1. Where do I stand in the tax situation? I am a consultant(never done it before) but not a company... What must I do?

If, after deducting your expenses you make a profit, you declare it at the end of year and pay the Revenue. You would only have to register for VAT if you went into the tens of thousands of euros.

2. Do I have to register with anyone? the Revenue no doubt but as what?

If this is a one off, probably not. If you are operating under your own name, there is no need to register with the Companies Registration Office. I assume you are registered for income tax. VAT as above.

gom

Thanks Victor.

You clarified some things for me there that I was unsure about.

I do know that I won't be earning enough to bother registering for VAT.

On TAX. I pay PAYE at the moment in a part-time job which earns me much mula. I will probably have to register for self-assesment once I get payed(or preferibly before). What is envolved in self-assesment?

I am vagly aware that there is a Tax Credit called something like
Professional Services Tax Avoidance? Its some sort of Tax Crediti for Consultants so that they pay 20%(lower tax band) of their profit to the revenue. Otherwise with my parttime job and the consultant once-annual(probably) job I will end up getting whored by revenue and I'm just a student trying to make a few bucks to pay a loan so he can attend college

Regards
gÓm

Victor

Professional Services Withholding Tax (Witholding Tax), maybe? This only applies to public bodies. Most charities, unless majorly government financed (e.g. public hospital) would not be withholding tax, although some may require a tax clearence cert.

I'm not sure if one has to register for self-assessment, but you will effectively be doing self-assessment.