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Registering a business on my own

  • 24-01-2011 2:17pm
    #1
    Heathen
    Registered Users, Registered Users 2 Posts: 1,459 ✭✭✭


    Hi all, i hope this is the correct forum.

    I currently work full time for a company, however the money i earn is not stretching as far as it should, so i have started up my own business to bring in come extra cash.
    I want to do it as legit as i can to avoid the revenue coming down on me for earning an extra few quid a month, so i want to register a business name and get a vat number for paying tax. I know its only small money i will be making, but they tend to go after the easy guys and leave the big gangster tycoons away with murder, so im playing is safe.

    I have been looking on the net and it mentions the fact that you need two people to register as directors (one can be acting secretary). My problem is that this is my business.. i operate 100% of it myself in my spare time outside of my current employed hours.

    Is there any option for me to register as a sole person business or something like that? i have no previous experience of running a business, i simply came up with an idea that makes me extra money to afford the gas/ sparks bill and road tax etc..

    I would love nothing more than to stick two finger up at the revenue and put the money in my pocket, but i know that they would only love to rob me pennyless if they did catch me, so thats why i want to just do it by the book..

    Can anyone give me some advice?

    Thanks
    H


Comments

  • #2
    Homer
    Registered Users, Registered Users 2 Posts: 4,372 ✭✭✭Homer


    From what you've described, you could set up as a sole trader. You don't need any directors etc. A little more info on what you'll be doing might help? Is it a service as opposed to selling a product? How much do you think you might earn? There is a threshold under which you wouldn't need to register for VAT.


  • #3
    Heathen
    Registered Users, Registered Users 2 Posts: 1,459 ✭✭✭Heathen


    Cheers for the reply Homer...

    More info.. I run a few websites and have recently opened one of the sites up to advertising, I have had interest from some of the bigger companies involved with the particular subject of the site.. and they want to advertise on the site. So i am not manufacturing a product for sale, i am simply creating advertising campaigns on a monthly basis.. on an already existing site. At the moment its bringing in approx 500euro a month.. but could rise to about 1000 euro a month during 2011..

    Like i said, its not a huge business by any means, but just something i needed to do to try help dig myself out of debt, because my fulltime job is not paying me enough to survive solely on their wages.

    cheers


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