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Self employed + part time job

  • 27-05-2014 4:41pm
    #1
    libor.bursik
    Registered Users, Registered Users 2 Posts: 4 ✭


    Hey guys,
    im working in a hotel in kitchen, i have in my contract variable hours. it means sometimes i could work 20h per week, sometimes 50. depends how busy is the buissness.
    Beside that im starting with Door to door sales rep. Im just wondering how it will with my taxes now ? Becose i pay PRSI and USC tax in my hotel job, so how it will be with the taxes in a self employment ? thank you for the help
    Tagged:


Comments

  • #2
    monflat
    Registered Users, Registered Users 2 Posts: 1,490 ✭✭✭monflat


    libor.bursik wrote: »
    Hey guys,
    im working in a hotel in kitchen, i have in my contract variable hours. it means sometimes i could work 20h per week, sometimes 50. depends how busy is the buissness.
    Beside that im starting with Door to door sales rep. Im just wondering how it will with my taxes now ? Becose i pay PRSI and USC tax in my hotel job, so how it will be with the taxes in a self employment ? thank you for the help



    Best is ring revenue and ask them they may share out some of your tax credits but if the season gets busy and you are working A lot of hours you may end up paying s lot of tax ie yhe higher rate.


  • #3
    libor.bursik
    Registered Users, Registered Users 2 Posts: 4 ✭libor.bursik


    actually i dont mind to pay higher tax, if my income will be higher. i just want to know, if there are some fees i have to pay only becose im self employed, even if i dont sell anything. example, next month june, hotel will be very busy, so i will dont do my door to door job, but becose im self employed,maybe i will have to pay some fee/tax anyway. doesnt matter i didnt earn nothing. this i want to know. if i will pay some tax extra only if i make some extra money, thats fine. thank you


  • #4
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,690 Mod ✭✭✭✭Stheno


    libor.bursik wrote: »
    actually i dont mind to pay higher tax, if my income will be higher. i just want to know, if there are some fees i have to pay only becose im self employed, even if i dont sell anything. example, next month june, hotel will be very busy, so i will dont do my door to door job, but becose im self employed,maybe i will have to pay some fee/tax anyway. doesnt matter i didnt earn nothing. this i want to know. if i will pay some tax extra only if i make some extra money, thats fine. thank you

    You only pay tax on what you earn.

    There's a bit of work to doing taxes if you are self employed, you might find it useful to talk to an accountant


  • #5
    Mrs OBumble
    Registered Users, Registered Users 2 Posts: 26,295 ✭✭✭✭Mrs OBumble


    Stheno wrote: »
    You only pay tax on what you earn.

    There's a bit of work to doing taxes if you are self employed, you might find it useful to talk to an accountant

    OP, if you start earning more than roughly E100 per week in self employment, then you may have to pay Class S PRSI as well as the regular tax from your other job, and regular tax on your self-employment job. If you are in this category, then you have to pay at least E500 (maybe it's E503) for having earnt "over the threshold" - and it's proportional after that.

    I would suggest that you give it a try for a couple of months: keep aside roughly on third of what you earn in your self-employed job, so that you can use it to pay the tax.

    Then in early August, so and see the people in Revenue and ask them to help you work out what paperwork you need to do.


    NB this advice is based assuming you won't be earning much at all in your self employed job. If I'm wrong, and you are earning more than, say, 500/month in it, then go and seen an accountant ASAP.


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