Pros cons of being FT Employed and sole trader

Nameloc

Hi, I have been employed PAYE for the past few years and I have an idea I fancy taking a punt at. It's a website/app business but to have a .ie domain, I need to declare as sole trader/ltd company.

I know the creditor implications between the 2, but if I were to go as a sole trader, would I need to inform current employers, or would they be told by revenue?

Is it just easier to go ltd company and not take any earnings/dividends whilst the whole thing builds up if it even does?

Graham

Check out discretionary domain names, it's not always necessary to register a business name or a company to get a .ie.

Corkbah

Nameloc wrote: »

Hi, I have been employed PAYE for the past few years and I have an idea I fancy taking a punt at. It's a website/app business but to have a .ie domain, I need to declare as sole trader/ltd company.

I know the creditor implications between the 2, but if I were to go as a sole trader, would I need to inform current employers, or would they be told by revenue?

Is it just easier to go ltd company and not take any earnings/dividends whilst the whole thing builds up if it even does?

are you sure about this …. you can register a discretionary name (website) …. if you intend using it as a business later …then no problem - but until you start trading you can and should register the website name before its gone.

if you really wanted to you can register a business name (you do not need to trade to register a business name) with the CRO (company registrations office) …www.cro.ie

after you register the business name you will be able to complete the registration process for the .ie website.

Graham

As you're not going to be starting your business immediately, I would suggest it is currently a project / personal blog / hobby / informational site all of which are eligible for a discretionary domain name. I've never had a problem registering a .ie under any of those categories.

https://www.iedr.ie/discretionary-name-clarification/