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Private Limited Company and BTEA

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  • 28-10-2015 4:57pm
    #1
    borntosucceed
    Registered Users Posts: 4 ✭


    Does anybody know whether I can keep my Back To Education Allowance and register a Private Limited Company?

    I was told that as a Director I will be considered "Self-Employed" which is weird to me since Ltd. is owned by shareholders, the director only runs it. Could someone clarify that for me, please?

    Also, in case I register Ltd. and keep receiving BTEA, is there a risk they will tell me to pay back whatever I have gotten since Ltd. is set up?

    I know that there is Back To Work Enterprise Allowance and all that, but I am in my last year of study and I want to accomplish it, but at the same time I wish to start working on my business now, so my "chances" to become unemployed after college will decrease.
    Tagged:


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    #2
    corcaigh1
    Registered Users Posts: 647 ✭✭✭corcaigh1


    Hi, was looking for info on this also, have you since set up?


  • Options
    #3
    Joseph
    Registered Users Posts: 1,521 ✭✭✭Joseph


    Will you own any shares in the company? Will you be paying yourself any money from the company?


  • Options
    #4
    borntosucceed
    Registered Users Posts: 4 ✭borntosucceed


    corcaigh1 wrote: »
    Hi, was looking for info on this also, have you since set up?

    I have not yet, waiting until the end of study (May this year). Did you move forward corcaigh1? Any new info on this?
    Joseph wrote: »
    Will you own any shares in the company? Will you be paying yourself any money from the company?

    Could you explain those options, Joseph? I mean what if I would own shares and what if I wouldn't? And also, what if I would be paying myself any money from the company? Is there a way of paying myself from the company, that wouldn't influence my BTEA? I am curious how each option would impact (or not) BTEA.


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    #5
    corcaigh1
    Registered Users Posts: 647 ✭✭✭corcaigh1


    borntosucceed wrote: »
    I have not yet, waiting until the end of study (May this year). Did you move forward corcaigh1? Any new info on this?


    Not yet! Id be interested in starting a company in the summer after my studies finish but id be interested to know how it will impact on the BTEA..:cool:


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