Moving from PAYE to self employment

Hi,

I have been unfortunate enought to lose my job recently but am contemplating setting up my own Quantity Surveying business. As I was a PAYE earner for the last 12 years how do I stand know in terms of remaining tax credits for this year. Can someone be kind enough to point me in the best direction?

If you go self employed then you will retain against that self-employment any unused tax credits that you have. One small thing is the PAYE credit of €1,830 which is only available against PAYE employments. You will still get the benefit of that but only to the extent of the PAYE employment. So as long as the PAYE employment generated at least €9,150 ( €1,830 x 5 , the 5 being to aco**** for it at 20% tax ) then you'd still get the full amount for the year. Your other credits and cut-off would be available as normal.