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Work for a US company not based in Ireland

  • 06-05-2016 6:33pm
    #1
    yfaykya
    Registered Users, Registered Users 2 Posts: 185 ✭✭


    Hi,
    I have been approached by a startup to work for them. The work can be done remotely. Is the only way I can do this by setting up as a sole trader? Or is there some way I can get employed by them? I really would prefer be PAYE if possible!

    Thanks!


Comments

  • #2
    Mrs OBumble
    Registered Users, Registered Users 2 Posts: 26,437 ✭✭✭✭Mrs OBumble


    yfaykya wrote: »
    Hi,
    I have been approached by a startup to work for them. The work can be done remotely. Is the only way I can do this by setting up as a sole trader? Or is there some way I can get employed by them? I really would prefer be PAYE if possible!

    Thanks!
    An umbrella company is another option, and would let you stay PAYE.


  • #3
    BailMeOut
    Registered Users, Registered Users 2 Posts: 3,046 ✭✭✭BailMeOut


    your two options are sole trader or start a company.

    I am in identical situation!

    Setting up your own company would involve more administration, accounting and tax needs (and expense) but there are also lots of benefits. If not managed correctly however you could end up paying more tax as you now have now have PAYE and Corporation tax.

    Do you think the USA company will want more people in Ireland in the future as you could end up owning a company with several employees contracting to these USA folks.


  • #4
    Mrs OBumble
    Registered Users, Registered Users 2 Posts: 26,437 ✭✭✭✭Mrs OBumble


    BailMeOut wrote: »
    ...and Corporation tax.

    You don't. Your company doesn't make any profit, because all it's revenue is used to either pay revenue or as drawing for you (which you pay your regular tax on).


  • #5
    BailMeOut
    Registered Users, Registered Users 2 Posts: 3,046 ✭✭✭BailMeOut


    Mrs OBumble wrote: »
    You don't. Your company doesn't make any profit, because all it's revenue is used to either pay revenue or as drawing for you (which you pay your regular tax on).

    Only if the OP draws down all company income.


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