Hi All,
My wife has been given the opportunity to teach in our local community center for about 6 hours per week. She is currently a part-time PAYE worker and she wants teach in addition to her part-time as the income she will generate from this venture will not be sufficient for her to leave her current position.
The teaching role will involve her renting space from the community center, so she will need to advertise her course and purchase equipment. In effect she will be working for herself.
So my questions are as follows:
1. Should she set up as a sole trader?
2. Will she be entitled to offset room rental and equipment purchase against taxable income?
3. Will setting up as a sole trader affect her current PAYE position?
4. Is there anything else we should consider.
Apologies for the elementary questions
My wife has been given the opportunity to teach in our local community center for about 6 hours per week. She is currently a part-time PAYE worker and she wants teach in addition to her part-time as the income she will generate from this venture will not be sufficient for her to leave her current position.
The teaching role will involve her renting space from the community center, so she will need to advertise her course and purchase equipment. In effect she will be working for herself.
So my questions are as follows:
1. Should she set up as a sole trader?
2. Will she be entitled to offset room rental and equipment purchase against taxable income?
3. Will setting up as a sole trader affect her current PAYE position?
4. Is there anything else we should consider.
Apologies for the elementary questions