Not sure if I have posted this in the right place.
I am a full time PAYE employee and have been for the past 15 years or so. I recently registered a business name with CRO as I do teaching for a few hours on a Saturday morning in the community. The money I get paid goes directly to pay for the room hire in a community centre and on supplies like books/stationary, nothing else is left over. I just registered the business name so that I could separate out the bank accounts. Students pay into my “business” bank account rather than my personal bank account. I don’t take any wages out of it and I don’t hire any staff. What obligation do I have from a revenue point of view, do I have to file a return for the business name as zero income, zero tax? Are my PAYE tax credits effected by this?
There is a chance I will get made redundant from my PAYE job. There are rumours that there will be staff cuts before the end of the year. If I was made redundant would I be entitled to job seekers benefit or would they look at the registered business name and decide I am a sole trader?
Its alot of questions, really appreciate any feedback. I am afraid to approach revenue directly.