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Starting a new part time business

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  • 18-02-2015 10:38pm
    #1
    EireJay
    Registered Users Posts: 24 ✭


    Hi guys, I had a business registered last year but about 3 weeks after setting things up I got a full time job, i deregistered the business and started paying taxes as PAYE. Now my jobs hours have been cut but I want to start up the business again part time. Can I reregister fresh as a new business with a new business name or do I have to fill out a different form? And if I do this business part time what way will it work out with my full time job tax wise? Any help would be great because I'm fairly green going into this and I'm finding it all a bit overwhelming. Thanks!


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    #2
    AsianIrish
    Registered Users Posts: 93 ✭✭AsianIrish


    You can reregister it if the name is still available. What are you going to do as part time?


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    #3
    EireJay
    Registered Users Posts: 24 ✭EireJay


    AsianIrish wrote: »
    You can reregister it if the name is still available. What are you going to do as part time?

    I'm opening a tech repair business as a part time business. Can I set it up as a new business under a new name even though I've set up a similar business before under a different name?


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    #4
    jimmii
    Registered Users Posts: 14,810 ✭✭✭✭jimmii


    If it was just a business name then you can set up with the same name or a similar name or a brand new name its only if it was a company name that it would be a problem.


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    #5
    EireJay
    Registered Users Posts: 24 ✭EireJay


    jimmii wrote: »
    If it was just a business name then you can set up with the same name or a similar name or a brand new name its only if it was a company name that it would be a problem.


    No it's just a business name so there should be no problem there. So I just need to fill out a new TR1 form with my new business name and I'll be up and running?


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    #6
    jimmii
    Registered Users Posts: 14,810 ✭✭✭✭jimmii


    EireJay wrote: »
    No it's just a business name so there should be no problem there. So I just need to fill out a new TR1 form with my new business name and I'll be up and running?

    Yep just the same thing you did first time round. I changed from sole trader to partnership with same business name just had to deregister and then reregister. Ran it by revenue to be sure!


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    #7
    EireJay
    Registered Users Posts: 24 ✭EireJay


    Thanks for the info guys! Now just one more question, what way does my taxes work now that I'm working full time, do I have to declare my weekly wage when doing my taxes or do I keep that separate?


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    #8
    jimmii
    Registered Users Posts: 14,810 ✭✭✭✭jimmii


    EireJay wrote: »
    Thanks for the info guys! Now just one more question, what way does my taxes work now that I'm working full time, do I have to declare my weekly wage when doing my taxes or do I keep that separate?

    That one is easily googleable! Just register on PAYE any time you can declare it there.


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