As things stand, you can only transfer €9,000 of your 20% band to your wife which still leaves €24,800 of unused 20% band which only you can use. So if you were to earn €2,000 per month then this €24,000 earnings would be taxed at 20% PAYE. In addition, you would have to pay USC & PRSI so it would work out at roughly 30% total tax rate
Re expenses, you can offset whatever expenses are required to produce that income, so if you are genuinely working from home then you can offset a portion of household bills against that income, once you are somewhat realistic about it.
Have a look at Example 5 on Revenue's page about the Start Your Own Business Relief as this may apply to you
http://www.revenue.ie/en/tax/it/reliefs/own-business-scheme/index.html#section2
1. Does that Start Your Own Business Relief scheme mean that I would not be paying 20% PAYE for two years, only USC & PRSI
2. As I said in OP "I read about a 2 year exemption from income tax for people who become self-employed before the end of 2016. However, you must be unemployed for at least 12 months (I am) and in receipt of social welfare assistance for same (impossible as the period was 9 months for JSB). We do, however, receive around 20 euro per week in FIS."
I was only entitled to JSB for 9 months then it was stopped due to means testing. I didn't bother signing on for credits since as felt there was no point with no social welfare assistance. Does this disqualify me from scheme?
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