Query on setting up a business

skimpydoo

I am in the process of setting up a private limited company with 2 friends. The business will be legally incorporated in 3 weeks time. My question is as follows at the moment I am on Job seekers allowance. When do I have to sign off from this? and is there any grants available like the back to work allowance.

If this is in the wrong forum section please move it.

roberta21

Hi there Skimpydoo-check out the Back to work enterprise allowance-you will need to attend a workshop and complete a business plan before you can be approved for this scheme-but I am pretty sure they also do provide grants and assistance associated with start up costs.Check out this link and touch base with your local County Enterprise Board

http://selfemployedsupports.ie/back_to_work_enterprise_allowance.en.html

skimpydoo

roberta21 wrote: »

Hi there Skimpydoo-check out the Back to work enterprise allowance-you will need to attend a workshop and complete a business plan before you can be approved for this scheme-but I am pretty sure they also do provide grants and assistance associated with start up costs.Check out this link and touch base with your local County Enterprise Board

http://selfemployedsupports.ie/back_to_work_enterprise_allowance.en.html

Hi Roberta thanks for the info. Just one query as 3 of us are in the business am I still classed as self employed. I was sure the Back to work enterprise allowance only worked for sole traders.

roberta21

skimpydoo wrote: »

Hi Roberta thanks for the info. Just one query as 3 of us are in the business am I still classed as self employed. I was sure the Back to work enterprise allowance only worked for sole traders.

I am not 100% certain given that you are forming a company-no harm in trying I guess-definitely give your local sw office a buzz or citizens information-they will definitely be able to shed more light on it. Best of luck

skimpydoo

roberta21 wrote: »

I am not 100% certain given that you are forming a company-no harm in trying I guess-definitely give your local sw office a buzz or citizens information-they will definitely be able to shed more light on it. Best of luck

Thanks Roberta will do.

dbran

Hi

A director of a limited company who owns more the 15% of the share capital of a company is classified as self employed and subject to self assessment and you would have to register with the revenue as such.

You should still be entitled to the BTWEA whether youa re a company or a sole trader.

Best of luck

dbran

skimpydoo

dbran wrote: »

Hi

A director of a limited company who owns more the 15% of the share capital of a company is classified as self employed and subject to self assessment and you would have to register with the revenue as such.

You should still be entitled to the BTWEA whether youa re a company or a sole trader.

Best of luck

dbran

Thanks for the good news dbran. I will contact Social Welfare about this.