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Form 11 if under taxable income?

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  • 29-10-2009 3:57pm
    #1
    selekta
    Registered Users Posts: 90 ✭✭


    A friend of mine had very little income in 2008, she only did a job or two and they totaled something in the region of €1K.
    She invoiced the client for the jobs, that would mean she was self-employed.
    She didn't register as a Sole Trader though, as the minimum income requiring you to do so was something around €3200 p/a, if I remember.

    The question is: should she file Form 11 for 2008 now? She sure didn't even get close into taxable region.
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    #2
    BarryM
    Registered Users Posts: 837 ✭✭✭BarryM


    selekta wrote: »
    A friend of mine had very little income in 2008, she only did a job or two and they totaled something in the region of €1K.
    She invoiced the client for the jobs, that would mean she was self-employed.
    She didn't register as a Sole Trader though, as the minimum income requiring you to do so was something around €3200 p/a, if I remember.

    The question is: should she file Form 11 for 2008 now? She sure didn't even get close into taxable region.

    Not formal advice - but no. I and my wife are both self assessed because we have local income, foreign income and pensions. Since I've more or less stopped taking on work (or to be honest I've not had many offers....) I don't have a taxable income from my 'trade' as the revenue call it, I'd call it a profession...and I still do a form 11 but only for for my and my wifes income from her trade and for the other stuff.

    Long winded, but if your wife doesn't meet the threshold and your not self assessed, don't bother. If they ever come after your wife you won't be penalised for not returning income way below the minimum.

    pm me if you need more info


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    #3
    selekta
    Registered Users Posts: 90 ✭✭selekta


    BarryM wrote: »
    If they ever come after your wife you won't be penalised for not returning income way below the minimum.

    There seems to be some logic (of the wishful thinking kind) to that... thanks :)


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