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PAYE and extra earnings.

  • 16-03-2010 2:50pm
    #1
    Randyleprechaun
    Registered Users, Registered Users 2 Posts: 876 ✭✭✭


    Hi,

    Sorry if this has been asked over and over before but any help appreciated.
    1. I am a PAYE worker.
    2. I want to setup a business which I estimate will earn me about €2500 per year profit.(Maybe more in years 2,3 & 4)
    What steps should I take to set up this business?

    Whats the easiest way to keep taxes etc in order without having to fill mountains of paperwork etc. I'd be fairly good at keeping my own books ie. simple money in/money out scenario.

    Is it worth my while setting all this up for such profit amounts.

    Do I have to have seperate bank accounts etc etc.

    Thanks, any other info greatly appreciated.


Comments

  • #2
    Mr. Incognito
    Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    Have a look around- there are similar threads.

    Long story short- don't think about incorporation until annual turnover is over 50/60K.

    Read the guide to self employment in the stickies.


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