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Starting business while in full time employment

  • 21-10-2016 11:46am
    #1
    MajesticDonkey
    Registered Users, Registered Users 2 Posts: 2,213 ✭✭✭


    Hello,

    I'm currently working full time in the IT business but I'm interested in starting an aerial photography business part time. I'm wondering if there are any specific things I should be thinking about in terms of financials...e.g. how it'll affect my tax credits (if at all).

    I'm going to be putting a bit of money into the business to get it going obviously, so I'm not expecting to make a whole lot in the first year, mainly because it will be part time and there's only so many hours in the year you can fly a drone in this country. I don't want to be in a position where I make less than I currently do because of paying more tax after setting up a business.

    Also, suggestions on sole trader v limited company?

    Thanks in advance.


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