Self-employed & employed at same time.

I’ve been self-employed for a few years while looking after kids at home.

My self-employed income after expenses in 2021 was just over €25k. My spouse currently earns €115k.

I’ve been offered a PAYE role with a previous employer for €32-35k. It would be right up my alley and wfh too. I would still be able to maintain other freelance work as self-employed.

What are tax implications if I take it? I’m wary of PAYE role having implications for my self-assessment every year. Or are they just treated separately?

They are treated together and the full amount is taken into consideration. You do your income tax return and your full income is taken into consideration. You will not receive both earned income credit and PAYE credit. So as your full income would be about 60K, your first 40K would be taxed at 20% and the remaining at 40%. However, as your 2021 income was 25K, your spouse should have benefited from an increased tax band (at 20%), which would not be the case if your income increases to 60K.

Thanks Azerty. Are there any tax calculators online for this sort of scenario to try and figure out if it’s worth taking this role?

ROS Offline maybe?

Thanks Clubman