Hi,
I work as a qualified accountant for a company in industry in Ireland where I get paid a salary and pay my taxes through the PAYE system. A family member has recently set up his own business in the UK and has asked if I would look after all the company set up, filing and accounting work. He works for himself and has no employees but his income is significant enough it makes better tax sense to register as a LTD company.
Is it ok for me to just invoice him a fee for the services I provide and then do a self-assessment return to the Irish tax authorities? Can I set myself up as a contractor for this business even though I am already a PAYE worker? Just want to check if its ok for me to provide accounting services to this new business.
Thanks for any help,
I work as a qualified accountant for a company in industry in Ireland where I get paid a salary and pay my taxes through the PAYE system. A family member has recently set up his own business in the UK and has asked if I would look after all the company set up, filing and accounting work. He works for himself and has no employees but his income is significant enough it makes better tax sense to register as a LTD company.
Is it ok for me to just invoice him a fee for the services I provide and then do a self-assessment return to the Irish tax authorities? Can I set myself up as a contractor for this business even though I am already a PAYE worker? Just want to check if its ok for me to provide accounting services to this new business.
Thanks for any help,