Hi
I am a higher rate PAYE worker and I have the opportunity to do a one off project in my area of expertise for a company. My question is how do I handle this from a tax perspective. I have done some searches and seen it mentioned that I could work as a sole trader but this will probably be the only project I do this year so I am wondering if this is necessary. If the project works out as a success then I may look long term to going the self employed route. Can I just do a tax return and add extra income and pay taxes on what I earned. I will be incurring some expenses doing this travelling to their site in Ireland so curious to know how to handle all of this. I will be charging approximately 4000 Euro for the work. Any advice appreciated.
Thanks
Aidan
I am a higher rate PAYE worker and I have the opportunity to do a one off project in my area of expertise for a company. My question is how do I handle this from a tax perspective. I have done some searches and seen it mentioned that I could work as a sole trader but this will probably be the only project I do this year so I am wondering if this is necessary. If the project works out as a success then I may look long term to going the self employed route. Can I just do a tax return and add extra income and pay taxes on what I earned. I will be incurring some expenses doing this travelling to their site in Ireland so curious to know how to handle all of this. I will be charging approximately 4000 Euro for the work. Any advice appreciated.
Thanks
Aidan