Small business

Old Nov 8th 2015, 12:17 am
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Default Small business

Hi all.Have been living here for a while now and am thinking about starting a small business (hobby job). Does any body have experience of starting up.My biggest concern is tax, it seems the minimum tax for self employed is 50000 huf per month which is a problem as I'm looking at an initial turnover of 60000 or less per month. Are there any ways to avoid this (legally).Any other advice or hints and tips gratefully received.Thanks in advance Steve
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Old Nov 8th 2015, 6:55 am
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We've been down that road and have been in 'KATA' for the last 3 or 4 years. This seems to be the easiest and cheapest way forward. If you're planning on being self employed then you need to make sure that you're going to make enough money to make it worthwhile otherwise don't bother. Hungary is definitely not the easiest place to be self employed or own a business unfortunately.
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Old Nov 9th 2015, 7:47 pm
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Thanks.My wife uses KATA for her business I was hoping there was something else for me. Wanted to only work one or two days a week but will have to do three or four before it becomes viable to pay taxes and have a bit of money to put back into the business. Its a pity as I don't want to charge lots of money but might have to just to pay the tax man.
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Old Nov 9th 2015, 9:14 pm
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I'm not sure whether it would be possible, you would need to speak to your bookkeeper or NAV to find out if you could 'work' for your wife. Your wife would make the invoice and pay the taxes and you would have a contract (megbízásy szerződés) with her and technically be employed be her.
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Old Nov 10th 2015, 3:54 am
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I will ask her but its an entirely different kind of business and a franchise plus she hates paperwork.Think I might end up doing "favours" for "friends" until i build up a big enough client base.
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