Employed & freelance Tax Advice

TwistedPixel88

Hi everyone,

I’m new to boards.ie, I am just looking for some advice on Tax.

I am employed full time as a Web Developer so im registered as PAYE,

but in my spare time I've recently started do some freelance work on elance dot com. My earnings from this are paid directly into my bank account.

I'm just wondering what I should do about tax?
As I don't want to get stung with back tax and penalities for not declaring extra income.

Any advice is much appreciated.

Thanks.

Citizenpain

How much income after expenses ? If less than 3k use form 12 , if more form 11

If you are already on the higher rate of tax you will pay 52% tax prsi and levies

TwistedPixel88

Citizenpain wrote: »

How much income after expenses ? If less than 3k use form 12 , if more form 11

If you are already on the higher rate of tax you will pay 52% tax prsi and levies

Thanks for the reply Citizenpain, Im in the lower bracket and should stay within that even with the extra income.

Should I register as self employed aswell as being PAYE?

Citizenpain

How much a year profit will you be making ? Register if greater than 3k. If you register you need to complete form 11. Look at revenue.ie for timing of returns