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Full time work + Part time on personal time?

  • 06-10-2015 7:53pm
    #1
    Reati
    Registered Users, Registered Users 2 Posts: 1,926 ✭✭✭


    Hi folks,

    Trying to figure this one out but it's a little confusing.

    I work a 40 hour job full time. I also want to do service work I provide by myself that I can do on the weekend that can make a little extra cash. What Io I need to register as? A sole trader? A company? Nothing? and will it affect me in my other job, things like Tax, tax credits etc.

    I really just want to have the option to make a few bob on the side when there is a calling for my services and I'm happy to pay the taxes on the extra income but it's not like I'll be quiting my job for it so I don't want to be worse off either.

    Any ideas?


Comments

  • #2
    Mrs OBumble
    Registered Users, Registered Users 2 Posts: 26,288 ✭✭✭✭Mrs OBumble


    Register as a sole trader.

    Make sure you have insurance to cover you operating in this way. And that there's nothing in your employment contract saying you cannot work in the sam area.


  • #3
    Nody
    Moderators, Category Moderators, Arts Moderators, Business & Finance Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 18,375 CMod ✭✭✭✭Nody


    Reati wrote: »
    will it affect me in my other job, things like Tax, tax credits etc.
    You'll need to pay full taxes on the additional income (i.e. don't use any credits for it) and you may end up in a overall higher taxband as well on part of your income (once again cover that with your second job).


  • #4
    Reati
    Registered Users, Registered Users 2 Posts: 1,926 ✭✭✭Reati


    Thanks folks for the answers :)


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