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Full time work + Sole Trader

  • 25-09-2008 8:35am
    #1
    marcingaik
    Closed Accounts Posts: 5 ✭


    I have been going through this forum and through www.startingabusinessinireland.com and www.cro.ie and cannot find the answers for very specific questions. It would be great if any of you could help me out:

    1) I am working full time (PAYE) but I have started doing some design work on a side. I know I should register myself as a sole-trader. If I do that, what happens to my full-time employment? Does everything stay as it was or do I have to invoice them for my work and they stop paying my PRSI and stuff?

    2) Once I register as a sole-trader I understand that I do not need to register for VAT unless my income exceeds a set amount? Is my understanding right?

    3) In the period of time when I am not yet registered for VAT but selling my services, and my customer asks for an invoice, what happens then? I apply the tax to my prices or not? I am a bit confused with that aspect.

    4) I am going to have a chat with accountant this year as I believe I will need to hire one at some stage. Now, my schedule is quite tight and I know that nothing will replace a chat face to face, but do you know an accountant that would deal with a customer through e-mail? And accept CC or PayPal payments?

    Thanks very much for your help and I am sorry if any of the questions was covered here before. I had a look through the archive but could not find a simple answer to these questions.


Comments

  • #2
    rob accounts
    Registered Users, Registered Users 2 Posts: 13 ✭rob accounts


    <snip>

    [**Advertising your services is not allowed Rob.**]
    The Scientist.


  • #3
    EI-EAY
    Closed Accounts Posts: 39 ✭EI-EAY


    1. You should register with the revenue as a part time sole trader and fill in an annual return, No need to register with CRO unless you want to register a company / company name. This shouldnt affect how you pay PAYE so you continue paying your tax/prsi with your employer as usual.

    2. Correct the threshold is on www.revenue.ie I cant remember it off the top of my head

    3. If your not registered for VAT, you dont charge VAT, so raise the invoice with no VAT.


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