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Quick self-assessed tax question

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  • 16-02-2016 2:21pm
    #1
    ideaburst
    Registered Users Posts: 100 ✭✭


    Hi all,

    A quick question on the Form 11. On page 28, section 934 (a), it asks you to enter the amount of your total income - which is income from employments and self employed income. However, in the same paragraph, it also says 'where you are in receipt of trading or professional income, it is the adjusted net profit after taking account of business expenses, but before losses forward or capital allowances.

    Which is it? Do you enter your total income from PAYE employment and self employment, or is it adjusted net profit from self employment?

    The confusing part is 'in receipt of trading or professional income'. For example, for someone who was both self-employed (i.e. registered for self-assessment) and in PAYE income in a given year, how does it work?

    Thanks.


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    #2
    Ogogo
    Registered Users Posts: 251 ✭✭Ogogo


    You should in all seriousness be using ROS (Revenues Online System) for doing this. It will do all the checks and balances before you submit the information so its much harder to screw it up.

    I dont know the answer to your question but given the downside of making a mistake on this form professional advice from an accountant is seriously worth it.


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    #3
    Gloomtastic!
    Registered Users Posts: 8,480 ✭✭✭Gloomtastic!


    Ogogo wrote: »
    You should in all seriousness be using ROS (Revenues Online System) for doing this. It will do all the checks and balances before you submit the information so its much harder to screw it up.

    I dont know the answer to your question but given the downside of making a mistake on this form professional advice from an accountant is seriously worth it.

    Not really. You still have to input the figures. ROS then calculates what you owe. I believe the OP is stuck on the wording of the question, Revenue Gobbledegook.

    OP, call your local Revenue office and ask them.


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