paye / sole trader question

DriversEd

hi,
i'm thinking strongly of starting a small service business while staying in my job. it could make up another 10-20% of income over the year. but if i register as self employed are there knock affects to my PAYE status? i don't want to change anything there. but things are a little unsure also at work, so if i register as self employed will i loose any possible benefits if the job comes to an end?

regards,

Ed

Mr Clonfadda

Hi Ed

Being a sole trader you would be taxed on any profits of the business. It wouldn't effect your tax in your current employment but you would be responsible for putting aside your own tax.


cheers
N

DriversEd

and if i were to loose the paye job i'm in at present, would that sole trader registration have an affect on any benefits i might be entitled to that i've earned through my paye employment? like the jobseekers etc?

Mr Clonfadda

as long as you have the correct amount of A prsi stamps paid you will be able to claim benefit as a job seeker afaik