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Tax???? Sole-trader or not???

  • 27-04-2014 9:11pm
    #1
    AutumnLady
    Registered Users, Registered Users 2 Posts: 21 ✭


    Hi,

    Perhaps someone on here can help me out with my query.

    I recently applied for an online teaching job. The mother company is situated abroad, so the payment method would be via paypal.

    I would presume with these kind of positions I would have to take care of my own taxes (something I have never done, have always been a PAYE worker).

    So, would it be necessary to set up as a sole trader? Sorry if this is a stupid question, just not used to this kind of thing at all.

    Also, it is possible that the job would be very sporadic and could last only for a short time. Assuming I only earned a very small amount, is it possible to bypass the sole trader situation and simply declare the income on a Form 12?

    This is all theoretical at the moment as I am only in the application process, but just want to get ahead on things if my application went any further. Would obviously call the tax office for clarity on the matter if it comes to that.

    Any feedback would be much appreciated.

    Thanks.


Comments

  • #2
    Silverbling
    Banned (with Prison Access) Posts: 311 ✭✭Silverbling


    AutumnLady wrote: »
    Hi,

    Perhaps someone on here can help me out with my query.

    I recently applied for an online teaching job. The mother company is situated abroad, so the payment method would be via paypal.

    I would presume with these kind of positions I would have to take care of my own taxes (something I have never done, have always been a PAYE worker).

    So, would it be necessary to set up as a sole trader? Sorry if this is a stupid question, just not used to this kind of thing at all.

    Also, it is possible that the job would be very sporadic and could last only for a short time. Assuming I only earned a very small amount, is it possible to bypass the sole trader situation and simply declare the income on a Form 12?

    This is all theoretical at the moment as I am only in the application process, but just want to get ahead on things if my application went any further. Would obviously call the tax office for clarity on the matter if it comes to that.

    Any feedback would be much appreciated.

    Thanks.

    I am not fully sure of the answer but as a self employed person I have to pay my own stamps and register as a sole trader. I am also registered for VAT even though I am under the limit as I trade with the EU.

    I would be worried about being paid by paypal as they charge 3% commission, why not put it directly in your bank account?


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