QuestionsGeneral-MiscHow to freelance while full-time employed, register BRN/VAT?
BLaCKwaRRioR37 asked 9 months ago

I am planning to take on a side gig job while working full-time at a private company. I want to ensure that I am following the proper procedures and not accepting cash secretly. To simplify things, let's say I will be doing graphic design and selling digital services.I am already in the process of obtaining my individual BRN, but I believe I also need to register for VAT. From my understanding, I should be taxed on my second income from freelancing.Currently, my company handles my taxes through the PAYE system. However, I will need to manually add in my freelancing income when I file my taxes each year. I am already earning above the 390k tax threshold, and my freelancing gig may generate an additional 0-250k per year.I definitely want to hire an accountant to ensure all the paperwork is correct, but I want to have a general understanding beforehand.Thank you.Edit:I think I have a rough understanding of what I need to do:- Register an individual BRN and obtain a VAT number. - Issue a VAT invoice for each service provided. - File taxes quarterly, separate from my full-time work taxes.

Ilijin answered 9 months ago

Now does your company allows you to have a business on your name?

LanceShiro answered 9 months ago

You’ll just need to add your extra income minus operating expenses. Don’t be a bloody fool and just put in your income.

redspike77 answered 9 months ago

You don’t need to register for VAT. Really, you don’t even need a BRN at this point either.

Just make sure you do your tax returns and that’s it.

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