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Part-time work in addition to full time job

  • 12-09-2010 8:29pm
    #1
    PauloMN
    Moderators, Technology & Internet Moderators, Regional North East Moderators Posts: 10,878 Mod ✭✭✭✭


    I'm a full-time PAYE worker and I'm interested in doing some work for myself in my spare time - nixers I suppose you could call them. I'd prefer to do this work all above board in terms of income tax etc. and I have a few questions you guys might be able to advise on:

    - VAT: I presume I can operate as a sole trader as well as being a full-time PAYE worker? I don't expect my "sideline" to generate any more than a few thousand per year so I don't expect VAT will be an issue for me.
    - It's possible I might do some work for companies who'd require a proper invoice, so if I'm not charging VAT, how do I specify this on the invoice? 0% VAT? Or just leave it out all together?
    - Income tax: how do I handle this? Obviously for my main job it's all done at source by my employer, but how and when do I declare any supplimentary income and what proof do I need to provide?

    Any other information or tips appreciated!


Comments

  • #2
    premier10
    Registered Users, Registered Users 2 Posts: 320 ✭✭premier10


    - VAT: I presume I can operate as a sole trader as well as being a full-time PAYE worker? I don't expect my "sideline" to generate any more than a few thousand per year so I don't expect VAT will be an issue for me.

    Yes you can operate both paye work & self employment.

    - It's possible I might do some work for companies who'd require a proper invoice, so if I'm not charging VAT, how do I specify this on the invoice? 0% VAT? Or just leave it out all together?

    Just a normal invoice with no Vat number at the top and just have the total billed amt on it, don't put 0% Vat.


    - Income tax: how do I handle this? Obviously for my main job it's all done at source by my employer, but how and when do I declare any supplimentary income and what proof do I need to provide?


    You will need to complete a TR1 form to register for income tax under self employment.

    You need to complete a Form 11 each year by Oct 31st including your P60 from paye work and fill in income/expenses from you trade.

    You'll have to pay whatever extra tax is due on the extra income every October.

    All forms on revenue.ie

    Hope this helps


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