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Implications of registering for VAT

JMSE · 2007-05-21 12:19:31

Hello one and all, I am full-time employed and paying PAYE and PRSI. I want to set up a business/partnership with a pal and and run it in my our time while still remaining employees of another company. How will registering for VAT affect my takehome pay. I suppose if my tax credits are being applied to my normal wage as an…

21-05-2007 12:19pm

#1

JMSE

Registered Users, Registered Users 2 Posts: 906 ✭✭✭

Join Date: March 2007

Posts: 787

Hello one and all,

I am full-time employed and paying PAYE and PRSI. I want to set up a business/partnership with a pal and and run it in my our time while still remaining employees of another company.

How will registering for VAT affect my takehome pay. I suppose if my tax credits are being applied to my normal wage as an employee, my earnings from the other business would suffer being taxed at the high rate 40%.

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