Hobby taking off and will be starting to pay soon, but don't want to take a wage...

ExoPolitic

Hi there,

I have a youtube channel which will be paying out soon due to ad revenue.

Problem is, is that I am on certain benefits and any income to me will cancel the benefits. There is no way that a few euro a month is worth losing those benefits as they are worth a lot more.

My question is this;

Is there a way to set up the channel as a stand alone entity from me, so that any money earned by it, is reinvested in it and not taken out as "pay"? Genuinely I will only be buying equipment for the channel for use and review. Anything that goes on as my earnings as such, will really ruin my life.

Thanks.

Calahonda52

ExoPolitic wrote: »

Hi there,

I have a youtube channel which will be paying out soon due to ad revenue.

Problem is, is that I am on certain benefits and any income to me will cancel the benefits. There is no way that a few euro a month is worth losing those benefits as they are worth a lot more.

My question is this;

Is there a way to set up the channel as a stand alone entity from me, so that any money earned by it, is reinvested in it and not taken out as "pay"? Genuinely I will only be buying equipment for the channel for use and review. Anything that goes on as my earnings as such, will really ruin my life.

Thanks.

Correct me if I am wrong here: We ARE talking benefit fraud here.

ExoPolitic

Calahonda52 wrote: »

Correct me if I am wrong here: We ARE talking benefit fraud here.

No, it hasn't happened yet lol... I just simply close my channel if that is the case. That's why I am asking - got to ask to know, don't be so fast to judge.

1percent

Look into the enterprise allowance, register the business with the CRO and fill out the forms with the DSP. Assuming you have been on welfare for more than 12 months you can continue to draw for a further 2 years. There are also Grant's available for buying business related equipment. It's been a few years since I did this myself but was great help. Look into doing a start your own business course through the local enterprise office clame the expense back from DSP.

ExoPolitic

1percent wrote: »

Look into the enterprise allowance, register the business with the CRO and fill out the forms with the DSP. Assuming you have been on welfare for more than 12 months you can continue to draw for a further 2 years. There are also Grant's available for buying business related equipment. It's been a few years since I did this myself but was great help. Look into doing a start your own business course through the local enterprise office clame the expense back from DSP.

You see the problem is, it will only pay around é20 a month for the first year, assuming things go well!

1percent

ExoPolitic wrote: »

You see the problem is, it will only pay around é20 a month for the first year, assuming things go well!

And that's fine as you will still have your welfare payment without having to resort to fraud. It will allow you to focus on your new business, kit it out with minimal outlay of your own capital focus on your production, marketing and product placement.and if at the end of the two years it is not paying a livable wage, at least you gave it your all and have experience that will help you gain employment in that field.

L1011

Demonitise the Youtube channel - you will need exceptional growth to get it to an benefits replacement stage particularly in the current advertising market.

ExoPolitic

L1011 wrote: »

Demonitise the Youtube channel - you will need exceptional growth to get it to an benefits replacement stage particularly in the current advertising market.

Thanks, the most sensible way forward I think.