Extra Cash

liloldeme

Ok, quick question. I live in a big town and commute to the city for work. I am skint (like most) so to make extra cash I was thinking of getting a mini bus licence and using that for work - bringing other people to and from mon-fri. I need to research price of getting a licence and cost of a minibus but is it worth it as I would have to declare this to the revenue. I know short-term I need to invest but anyone know about working for a company and myself and what it would do to my tax? Not looking at doing bus hire over weekends, just using my head to make money while I am going to and from work. I was thinking I could make €240 extra a week before tax (if I was lucky enough). Any ideas anyone?

Delancey

I think you would be better off posting this question in the Motoring Forum , the lads there would know exactly what the score is regarding licence and crucially Insurance.
They could also advise you on what type of vehicle to look at.

I suspect the required PSV insurance may render this idea a non-runner unfortunately.

JOB93

I think if you're earning less than €10,000 from this, you wouldn't have to declare it. I could be wrong though...

Delancey

JOB93 wrote: »

I think if you're earning less than €10,000 from this, you wouldn't have to declare it. I could be wrong though...

Not being a smart ass JOB93 but I think you may be confused with the ' Rent-A-Room Scheme' that allows the houseowner to earn 10,000 before it becomes taxable.
Extra income earned from a second job is taxable - there is no special threshold or exemption.

RATM

OP you would need a PSV license to do this. But AFAIK what you would need as well as that is a Route License from the Dept.of Transport to become licensed on the route you intend to take. If there are other buses already doing the route you intend then they may not give it to you.

To be honest if you are just picking up the same 7 or 8 people every day then the best and easiest way you can do this is to get a hackney taxi license. This means you cannot pick people flagging you in the street; you must be telephoned to arrive at your pick-up point. As you'd be doing this 5 days a week then that wouldn't be a major problem as you'd have pre-arranged pick up times.

One thing you'd need to check out is if hackneys can use the bus lanes because if you and your passangers are stuck in traffic then it won't be long before they're taking a regular bus that can.

Overall I like your idea and I think we'll be seeing more and more uptake on ideas like this as the cost of oil keeps rocketing.

Mrs OBumble

Delancey wrote: »

Extra income earned from a second job is taxable - there is no special threshold or exemption.

Correct that it's taxable.

However you don't need to register as self employed if it's less than (I think) 3k. And you are VAT-exempt if it's less than around 30k. (OP - you or your accountant needs to confirm figures with Revenue, don't rely on this.)

trad

You need
Minibus
D1 Licence
CPC Road Passenger (for operators Licence)
CPC Driver
Insurance
Tax clearance Certificate
Operators Licence
It is possible you may need a route licence issued by the National Transport Authority.
A large PSV (9+ seats) can use bus lanes.

oh an customers.

Might take up to 6 months to sort all that out. There is no VAT on passenger transport.