Self employed and working part time as an employee

caz38

Hi,

I'm just looking for advice, I am a married woman who is registered as self employed and registered for Vat.

I have been self employed for one year, and recently completed my tax return for 2010, where I had a loss of €5500.

My husband who is the assessable spouse recieved a tax rebate.

I have been offered a part time job 25 hours a week. I would like to know the answer to the following so I can weigh up my options.

1. If i decide to cease self employment how do I do this?
2. My new job are looking for a P45, do I give them the one from my previous job last year before I commenced self employment?
3. If I decide to keep my self employment and work part time- can I do this?
4. If I continue with self employement and with the part time job- what class prsi does my employees pay for me?
5. If I cease self employment, will I go back to what I think was a class A Prsi?

I just would like to know my options.

Many thanks

DoMyBooks

caz38 wrote: »

Hi,

I'm just looking for advice, I am a married woman who is registered as self employed and registered for Vat.

I have been self employed for one year, and recently completed my tax return for 2010, where I had a loss of €5500.

My husband who is the assessable spouse recieved a tax rebate.

I have been offered a part time job 25 hours a week. I would like to know the answer to the following so I can weigh up my options.

1. If i decide to cease self employment how do I do this?
2. My new job are looking for a P45, do I give them the one from my previous job last year before I commenced self employment?
3. If I decide to keep my self employment and work part time- can I do this?
4. If I continue with self employement and with the part time job- what class prsi does my employees pay for me?
5. If I cease self employment, will I go back to what I think was a class A Prsi?

I just would like to know my options.

Many thanks

1. To cease self employment you fill in a TRCn1 obviously you will have to file all outstanding returns. http://www.revenue.ie/en/tax/it/forms/trcn1.pdf
2. No last years P45 is no good, ask revenue for a statement of your tax credits and cut off point.
3. Yes you can be self employed and employed at the same time.
4. Generally your employer pays class A more here
5. Yes

caz38

Thank you so much Do My Books, for all your help and advice, It appreciated:)