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ft5j60j

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Hi there

Im currently in full time employment and have a good job
company car, laptop, mobile and loads of OT and stuff

I do alot of work in the evening setting up pc's and fixing IT stuff for home users

I suppose Im looking at becoming leagal at this, as I have made over ?????k this year in cash jobs

I am wondering if I declared all this as extra earnsing would I haev to pay 42% on all of it??

What could I write off againt expenses

power, telephone, DSL, diesel, rent for office space
?

Thanks
 
Have you looked at the Key posts? You will probably find that your employer won't want you using a company car/laptop for your private business.

What expenses do you incur when doing these jobs?
 
They dont mind at all as Im allowed us the car for full personal use and dont use the laptop for my own work

There are loads of grey area to do with operating as a Sole Trader?
 
ft5j60j said:
They dont mind at all as Im allowed us the car for full personal use and dont use the laptop for my own work
Click to expand...
'full personal use' does not normally include running a private business. You should get written confirmation from the company, and ensure they have written confirmation from their insurers that you are covered to use the car to run your own business.
 
ft5j60j said:
I dont carry any goods in the car I just drive in it,
Click to expand...

Regardless of whether you carry goods or not, you may well find that the insurance policy covers personal use and use on the company's business (i.e. the company that is paying the policy), but does not cover use for another company's business.
 
point taken but what I do if no different than calling around to my friends place for a chat
 
I would talk to an accountant.

If you are making decent money, (and by your question marks, it looks like 5 figures), you can afford/benefit from it. S/he will let you know what you can and cannot claim and whether you need to consider VAT registration etc.

You can go in and give a hypothetical situation, as far as I know, they will not shop you if you decide to carry on nixing.

Your employer may have a concern with you working extra hours (being unfit for work with them), doing work for a client that you should be charging on behalf of your company (conflict of interest), be a pain in the aras (your contract probably stipulates that you can only have one job). I'm not saying they will, but it's something to be wary of if your 'hobby' becomes a profession!
 
ft5j60j said:
point taken but what I do if no different than calling around to my friends place for a chat
Click to expand...

You could make the same arguement about lots of insurance terms and conditions, but it doesn't fly. The insurance proposal form asks you what kind of cover is needed, and if you are operating outside these terms, you are not insured.
 
ft5j60j said:
Hi there

Im currently in full time employment and have a good job
company car, laptop, mobile and loads of OT and stuff

I do alot of work in the evening setting up pc's and fixing IT stuff for home users

I suppose Im looking at becoming leagal at this, as I have made over ?????k this year in cash jobs

I am wondering if I declared all this as extra earnsing would I haev to pay 42% on all of it??

What could I write off againt expenses

power, telephone, DSL, diesel, rent for office space
?

Thanks
Click to expand...


There are loads of points raised in this post.

1. What you are doing is illegal. It is tax evasion and you are leaving yourself open to possible jail time or more probably hefty interest and penalties if ever caught by the taxman. Is the €?????? worth this risk?

2. Are you putting your own "good job" at risj for these nixers?

3. I'd assume you would have to pay tax at the higher rate if your current job pays you well enough. Top Rate is 41% plus you will have PRSI & Levies.

4. Yes you can claim Business expenses against this income. But what expenses would you have?
Diesel? is this not covered by company?
Phone? yes, but only business portion
Rent? depends - if its a portion of your Principal Private Residence you want to charge Rent on then no as this will only incur CGT on any future sale of these premises.

You need to talk to an accountant.
 
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