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are you allowed to be a solo trader if employed?

  • 24-03-2017 9:23pm
    #1
    spacekiwi
    Registered Users, Registered Users 2 Posts: 225 ✭✭


    Hi, was thinking of doing landscaping business on weekends and work hols etc.
    Can i register as a solo trader and tax if im already full time employed?
    If i can is there a downside?will i get absolutely nailed with tax? Etc??

    Just a idea, as need extra cash, have time to spare, and if it took off could leave 9-5 job in time to come.
    Thanks


Comments

  • #2
    davo10
    Closed Accounts Posts: 6,926 ✭✭✭davo10


    For taxation, nothing to stop you working for yourself at times when you are not working for your employer. You just need to pay tax on your income. Whether it's worth it or not depends on the amount you make and the tax band you are in. You should discuss this with an accountant and decide whether it is worth your while to vat register/pay accountancy fees on your additional income.


  • #3
    Mrs OBumble
    Registered Users, Registered Users 2 Posts: 26,292 ✭✭✭✭Mrs OBumble


    Only thing to check if is your employment contract says "no" or "you have to get the bosses permission".

    The boss should not allow you to work for an employer for more than 48 hours per week. Not sure if that restriction is placed on self-employment hours though.


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