Sole trading and part time working

J

Joanneh

Registered User
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Hi all
I'd appreciated if anyone could give me advise or at least tell me where I should be looking for the right information.

I've recently finished a full time job. I am now working part time, and have commenced as a sole trader contractor too but am a bit clueless about the whole tax issue.

I've registered as a sole trader with revenue. My questions are about how I am now taxed as I am a PRSI employee but also a sole trader - do I need to do anything special or can I just carry on? I am also unclear about charging VAT - the revenue site has plenty of advice on how to file tax returns by 31st October but do I just put 13% on my invoices to ensure I am covered? And is it that 13% that I pay to the revenue?

Would really appreciate any advice on this.
 
Revenue have some very good leaflets for sole traders. IT48 & IT49 should explain about starting in business and VAT.

By the way could you continue to work part-time when your business gets up and running. As a PAYE employee (even part-time) your PRSI will be paid and you will continue to have a PAYE tax credit.

Hope everything goes well for you but it could be a comforting thought to know you could claim a SW payment should you be ill or short of work
 
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