Difference working for company V self employed

D

dodo

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I am looking for advice, I currently work in a job salary 37K + 5k bonus all going well permanent etcnot sure if I see my future here, now I might be offered a job where I would have to register myself as a ltd company' 2 yr contract and it would be a move in right direction for the future, the salary is 47K
Now first thing would I be better off with the 47K v 42K, never worked for myself,
I know people who have been self employed and with the downturn when no work they could not claim JSB, now I have young family so need to know the facts before I commit, I would love to get some advice from AAM,
 
Also note that Revenue may deem you as being an employee, and tax you and your employer accordingly, regardless of what arrangement you have with your employer.
 
Dodo

at 47k it wouldn't be really worth it unless you could claim a lot of it as expenses. I would estimate that you would need 58k to make it work or approx € 30 p/h., as you should be able to pay less tax. Also no need for limited company look up the likes of Prima / CXC for umbrella ompany options.... good luck....
 
With a young family I would not take the risk in these uncertain times. The rewards would need to be a lot higher.

If you had no responsibilities it may be worth considering given that it is in your chosen area of work
 
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