Absolutely.
The best move i made was to start paying this english living on a beach in thailand as a marketing consultant. I have a dip in marketing but i still was not going to be able to analyze and soend time following trends. He used to be a PT, could build websites and market. He is a godsend.
His advice actually at that point you describe, which is here or near is to simply employ someone, as in another Coach. They’ll make me money and free up time. Its something i am considering.
Would you PAYE that or make them a sole trader (or ask them to be one)?
Not an easy question to answer. Remember hiring someone on a PAY basis means you are out laying that cost from day one. I don’t know enough about your industry but remember if you go down that route you will have to agree an initial wage/salary which will lead to additional costs from your accountant as it is extra administration fees.
My best guess is to hire someone who is also self employed and let them invoice you on a weekly/monthly basis. That way you control what hours you need them for and can control your costs. You can also agree with them a structure whereby the more business they bring in , you can agree a specific bonus/commision structure.
Hiring someone as a an employee is going to increase your administration fees plus your prsi contributions. Are you turning enough over for that?
This is a bizarre practice Kev. My accountant calculates my tax liability then revenue take it out from my account separately. Why would you give your tax to the accountant?
Thats the way i did it in Oz.
And maybe thats the way i should do it. I have only had one payment with said accountant, so maybe its me doing it arseways or they do it the old way. Revenue didn’t take anything from my account though previously, i just bank drafted it.
A club soccer coach who had one of his U17 players let go from a Championship academy that despite being declared unfit, the national manager played him even though he had a grade 2 hamstring tear. The club coach believed it was a defining factor
A client who was playing in the Dublin & Wexford v Carlow games. The same client speaks highly of Carlow’s Sean Murphy, which was convenient as Kev was making a point about how good Murphy was at the time.
Theres two Murphy’s, Sean (Choo Choo) and Brendan. Brendan dallied a bit with AFL but is half mad, even too much for the army, and ended up in the Guards I believe. He’s a tasty footballer, but mad. Sean is as honest as they come, but very limited. I’d take Sean over Brendan any day.