oluwabamidele09
New member
Hi all. Just wondering if someone could shed some light on something.
I’m strongly considering starting a very small business from home selling clothing products. I have a supplier sourced and I know that the type of clothing will be popular with the right audience, in which I’m heavily involved in.
Now, I work in a job which puts me in the higher tax bracket by years end. I’m not going to be leaving this job as I’m there 11 years and am still satisfied there. However, I’ve had a burning desire to have a side gig at the same time.
Can someone please advise if a sole trader is the route I should go? Or is there something else I should look at?
I fully expect to earn less than €5,000p/y in this side gig. But the initial investment needs to be €1,000 and I need a VAT no. for this to work.
Mainly the reason I want to do this is to earn just a little bit of extra money on the side, but also to do something extra with my spare time. I’m not looking to be a millionaire from this. It’s just some fun on the side.
Thanks in advance!
I’m strongly considering starting a very small business from home selling clothing products. I have a supplier sourced and I know that the type of clothing will be popular with the right audience, in which I’m heavily involved in.
Now, I work in a job which puts me in the higher tax bracket by years end. I’m not going to be leaving this job as I’m there 11 years and am still satisfied there. However, I’ve had a burning desire to have a side gig at the same time.
Can someone please advise if a sole trader is the route I should go? Or is there something else I should look at?
I fully expect to earn less than €5,000p/y in this side gig. But the initial investment needs to be €1,000 and I need a VAT no. for this to work.
Mainly the reason I want to do this is to earn just a little bit of extra money on the side, but also to do something extra with my spare time. I’m not looking to be a millionaire from this. It’s just some fun on the side.
Thanks in advance!