I've been unemployed since Feb 2013. I received Jobseekers for 9 months but was not awarded JSA as my wife's salary was deemed too high.
At the moment, she earns around 47k basic and about 5k bonus. She obviously has all my tax credits.
I've been offered an opportunity to do some freelance marketing for a company from home. I'd roughly take home 1500 euro per month for the hours intended. I would also have an opportunity to pick up other bits and pieces from smaller clients, maybe another 500 euro per month.
What are my options? If i take it do I:
-set myself up as a sole trader?
-will it be worthwhile with tax implications?e.g. will half of my earnings be gone in tax?
-what can I write off against tax for working from home? I will be working from home office and using laptop, broadband, electricity etc.
-I read about a 2 year exemption from income tax for people who become self-employed before the end of 2016. However, you must be unemployed for at least 12 months (I am) and in receipt of social welfare assistance for same (impossible as the period was 9 months for JSB). We do, however, receive around 20 euro per week in FIS.
Any advice would be greatly accepted? Taking the role would entail paying childminders and there may not be a point if half of any income is gone in tax.
At the moment, she earns around 47k basic and about 5k bonus. She obviously has all my tax credits.
I've been offered an opportunity to do some freelance marketing for a company from home. I'd roughly take home 1500 euro per month for the hours intended. I would also have an opportunity to pick up other bits and pieces from smaller clients, maybe another 500 euro per month.
What are my options? If i take it do I:
-set myself up as a sole trader?
-will it be worthwhile with tax implications?e.g. will half of my earnings be gone in tax?
-what can I write off against tax for working from home? I will be working from home office and using laptop, broadband, electricity etc.
-I read about a 2 year exemption from income tax for people who become self-employed before the end of 2016. However, you must be unemployed for at least 12 months (I am) and in receipt of social welfare assistance for same (impossible as the period was 9 months for JSB). We do, however, receive around 20 euro per week in FIS.
Any advice would be greatly accepted? Taking the role would entail paying childminders and there may not be a point if half of any income is gone in tax.