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Part Time Business

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  • 11-02-2013 7:01pm
    #1
    jrochie
    Registered Users Posts: 309 ✭✭


    Hi guys,

    I am currently working in a full time job. Sales based so I have a relatively low salary but good commission so I can't complain at all. I'm actually very happy with it. I also fix computers and do some IT work in my spare time as well. It's something I've always done but very little really.

    Recently I've gotten a little busier with it, jobs have gradually been getting bigger in size. I've also found myself having to buy more and more parts etc. as well as that I've been approached by a small chain of shops to manage their IT. So all in all it's turning into a nice handy earner for me.

    What is the best option for me to manage this all? The original few bob here and there was fine before but I know it needs to be managed properly now. What would the tax implications be for me to set up as a company or is this even possible when I'm a PAYE employee already?

    Please excuse my complete ignorance on the subject as I'm just looking into everything now.

    Thanks in advance guys


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    #2
    backspacer
    Registered Users Posts: 555 ✭✭✭backspacer


    Sorry for piggybacking onto this thread but am in the same boat as the OP, i was wondering would self-assessment be the way to go? What would the implications be if i lost my job in terms of receiving social welfare etc?


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