Need Advice On Joining A Small Business

RonanH92

My friend runs a small company fixing laptops, tech, etc. in Wexford town.

I fix laptops for relatives and family to great result.
I want to join my friend's business under the business name as a Naas branch of sorts. So I can advertise myself and I won't get caught out for tax evasion etc.
He won't be paying me but I will be giving him a percentage per job.

Does he need to register me in the business? What will that mean for me? I am about to go on a paid internship but currently unemployed

pedroeibar1

You should do a 'start your own business course' - that will give you the info and a certain level of confidence.
If what you have written is correct, (very very scant info, lots missing) what you are about to do is start your own business and give your friend a percentage of your hard work. What is he bringing to the party?

jimmii

Why are you doing it under his name? I doubt having his Wexford company name above the door is going to get you any extra business in Naas. Just go it alone it sounds like it won't be any different.

RonanH92

Right I should probably point out that I am only 21 and he is only 20. He would have a WHOLE lot more knowledge than me, a website (if at all basic but still) and has been doing well so far. To be honest I have no interest in starting my own business as I am a full time college student. Too much hassle! Whereas working under his name lets me do work without having to do all the behind the scenes type of stuff.

jimmii

So he is going to do all your accounts and pay for all the set up etc? That doesn't sound so bad then. He only has the experience because when he was in your position he went and did it himself instead of working for someone else.

RonanH92

Regarding accounts, the business is sooo small, it would only be us two. He has very little account to do so that was never gonna be a problem.
He actually did it cause he took a year off college and needed money

Peterdalkey

If he is not putting you on his payroll as an employee, you are autmatically self-employed and must register for tax. You are liable for your own income to Revenue in respect of /accounts/taxes/returns etc.

RonanH92

Peterdalkey wrote: »

If he is not putting you on his payroll as an employee, you are autmatically self-employed and must register for tax. You are liable for your own income to Revenue in respect of /accounts/taxes/returns etc.

But can he not put me on his payroll as an employee. Then let me find my own jobs, do them, put the money through the company, give him a percentage per job and I get the rest of the money for that job done but have all the accounts eg invoices, tax etc. together as he has that sort of stuff setup at his end.

Atomico

RonanH92 wrote: »

But can he not put me on his payroll as an employee. Then let me find my own jobs, do them, put the money through the company, give him a percentage per job and I get the rest of the money for that job done but have all the accounts eg invoices, tax etc. together as he has that sort of stuff setup at his end.

Why would you give someone else a percentage of the jobs you find and complete?! It's supposed to be the other way around!

I think you might be over-thinking it. Self-declaring tax is straightforward and you can even get an accountant to do it for you when the time comes (and write-off their fee against tax).

If you are already doing this type of work, then keep 100% of the revenue from the jobs you find and do!

jimmii

Probably find it would be cheaper to use an accountant to do all the stuff he would be doing and just do it under your own name.

RonanH92

Gonna look into starting it myself. Thanks for your help!

jimmii

RonanH92 wrote: »

Gonna look into starting it myself. Thanks for your help!

Good luck! Post any questions you have here as you can see people are more than willing to help out!!