Proprietary Director & Self Employed?

M

money man

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I am a proprietary Director of a company. I want to earn money as a self employed individual by invoicing another company directly. Do i need to register as self-employed even though i already pay PRSI class S and am paid a wage from the company. Also is this allowed as long as i disclose the income before Oct 31st through the Form 11 self assessment which i must complete as a Director anyway.

thanks
 
I know this is highly frowned upon but i wonder is there anyone who can help me with my query (bumping it up that is)
Is there any way in hindsight to pay a director for year end 31st november since the company has made a profit and i would like to minimise corp tax. I havnt used up my full lower tax rate.
 
As long as you are not connected to the company, there should be no problem in invoicing the company for work carried out. As you said, you will have to disclose the income through a form11 return
 
money man said:
As above i am a propreitary Director of the company. Why does this effect it?
Click to expand...

excuse me if this is a dumb question, but are you trying to invoice the company that you are a director of to reduce profits of your own company and pay the personal tax yourself on invoiced amount?
 
Sorry pjk now i understand your question. Ive confused myself ive thought so much about this!! No the company i want to invoice is in no way linked to me by ownership. Thanks for helping to clear it up. Seems im ok to proceed with this as planned so.
 
Yes Money man this is fine! You should keep a seperate Account for your personal (sole trader) business and keep accounts as well.
 
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