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Additional income or new company?

  • 29-04-2015 9:51am
    #1
    TinManJim
    Registered Users, Registered Users 2 Posts: 2 ✭


    Hi all,

    I have a community website up and running but currently make no money from it. It's actually costing me money.

    I've been in touch with a few companies and they're willing to pay for advertising on the website. It looks like I could generate €1000-€2000 per year from it.

    To be above board, do I need to set up a company for the project and pay taxes through that? I've no experience setting up a company.

    Or can I simply declare the money as extra income and get taxed on that? I have a full-time job and paying income tax, this is only a side project.

    I'm looking for the simplest way of making this extra income and having it above board and income taxed as required.

    Thanks.


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