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Question about a second job

  • 27-04-2018 8:35pm
    #1
    Sesame
    Registered Users, Registered Users 2 Posts: 508 ✭✭✭


    Hi,
    I'm a PAYE employee who is about to undertake some hours (maybe about 8 hours a week) of addional work for another company.i will mainly be doing this from home with some site visits.
    What is the best thing to do regarding accountancy on this? Should I set up as a sole trader or Ltd company and invoice that company as a contractor would?
    Or should I use an umbrella company? Looking into pricing, this seems expensive for the amount of income involved as it is very part time and may be variable.
    Thanks


Comments

  • #2
    onlinepal100
    Registered Users, Registered Users 2 Posts: 36 ✭onlinepal100


    Would suggest you operate as a sole trader/personal capacity and maintain details of income earned and expenses incurred in executing this second role. Net balance, assuming positive, will be taxable and should be reported on your next annual tax return.

    No need, unless you are going to make significant income for the part time role to register for VAT or operate through a Ltd company.


  • #3
    Sesame
    Registered Users, Registered Users 2 Posts: 508 ✭✭✭Sesame


    onlinepal100 wrote: »
    Would suggest you operate as a sole trader/personal capacity and maintain details of income earned and expenses incurred in executing this second role. Net balance, assuming positive, will be taxable and should be reported on your next annual tax return.

    No need, unless you are going to make significant income for the part time role to register for VAT or operate through a Ltd company.

    Thank you, that's really helpful.


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