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Can I have my own business while working for someone else?

  • 27-09-2010 8:52pm
    #1
    rapture 3
    Registered Users Posts: 43 ✭


    Hi ,My question to you guys is this.I am currently working at the moment,Ive been with this company for the last 12 years.There is a side to the business which i look after, its seasonal work and Im the only one in the company who can repair these things. Recently there has been a change in management and my new boss has said he no longer wants to keep that end of the business going as its not making as much money as he would like,I on the other hand know that there is money to be made doing them,maybe not as many zeros at the end of the bill he d like but enough for me. So my question is can I start up my own company and do them while still working for him? If i was to lose my job could i claim my 12 years worth of stamps until i go full time with my business?Im not saying i want to sit at home claiming the dole,I have a family and need to know where id stand if I did lose my job while being my own boss at the same time !I hope this makes sense,Thanks.


Comments

  • #2
    premier10
    Registered Users, Registered Users 2 Posts: 320 ✭✭premier10


    rapture 3 wrote: »
    So my question is can I start up my own company and do them while still working for him? If i was to lose my job could i claim my 12 years worth of stamps until i go full time with my business?Im not saying i want to sit at home claiming the dole,I have a family and need to know where id stand if I did lose my job while being my own boss at the same time !I hope this makes sense,Thanks.

    Yes you can setup your own company or just register to be self employed as well as being a PAYE worker.

    In terms of claiming againist stamps if you loose your paye job, it will depend on what income you are earning from your new business - you would be subject to a means test unless you had zero/ very little income from your new business.


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