My husband is setting up a small business that he can work on in his free time from the day job. I've been trying to find out how he can allocate tax credits to the sole trader business but am confused!
I looked at the Revenue Guide to Setting up a Business from the Enterprise Ireland website and was wondering if anyone can clarify the statement below:
How does this system work?
I looked at the Revenue Guide to Setting up a Business from the Enterprise Ireland website and was wondering if anyone can clarify the statement below:
"if you are in employment and also have a small
business with a low turnover and if the income from the
business is relatively small, you can arrange to have the tax due
on your business deducted under PAYE by reducing your tax
credits and standard rate cut-off point."How does this system work?