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Form 12, just to clarify..

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  • 21-10-2014 11:13am
    #1
    Maximus_1
    Registered Users Posts: 194 ✭✭


    Hi there,

    Last year I did some work (IT jobs) for a local school outside of my PAYE 9 to 5 in November and December. The agreement was I would declare and pay the tax on the income I got (€520). So its that time of year. From what I can gather I need to submit a form 12.

    Question 1, I am selecting fees and commissions as the type of income as its the closet thing I can see to my situation. Am I right in thinking this?

    Question 2, does this then automatically get deducted out of my wages? I'm estimating around €150 between TAX (lower rate) and USC.

    Thanks
    Tagged:


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    #2
    2ndcoming
    Registered Users Posts: 3,571 ✭✭✭2ndcoming


    You're right on both counts. You can use either the fees / commisions block or the "untaxed income arising in the state" panel. Either way it will have the same effect.

    If you earned over 32,800 (as a single person) the total liability between tax and USC would be 48%, that would be reduced from your next year's tax credits.


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    #3
    Maximus_1
    Registered Users Posts: 194 ✭✭Maximus_1


    Thanks 2nd. So it doesn't work like removing a relief where they deduct the amount from your wages (happened me earlier this year when I removed a rent relief via PAYE Anytime, bam next payday I was €100 lighter), it will be reduced from next years credits. 6 of one, half..


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