Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi all! We have been experiencing an issue on site where threads have been missing the latest postings. The platform host Vanilla are working on this issue. A workaround that has been used by some is to navigate back from 1 to 10+ pages to re-sync the thread and this will then show the latest posts. Thanks, Mike.
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Paying tax on extra income

  • 14-08-2016 2:03pm
    #1
    Nicola20
    Registered Users Posts: 28 ✭


    Hi, I'm not sure I'm posting this in the right forum so apologies.

    I've been working for a year as a PAYE employee but I also earn a small additional income from freelance work on a sporadic basis.

    This is my first year working full-time so I'm not sure how I should go about declaring this income and paying tax on it?

    Thanks in advance for the help.


Comments

  • #2
    callaway92
    Registered Users, Registered Users 2 Posts: 14,847 ✭✭✭✭callaway92


    Interested in this too.

    I'd have guessed for freelance work there is perhaps a quota of what you can earn extra out of normal work without being taxed? (At least I'd like that to be the case anyway :P )


  • #3
    Nicola20
    Registered Users Posts: 28 ✭Nicola20


    I read somewhere that if you've earned under 5k in the course of the year it's not taxed, that sounds too good to be true though.


  • #4
    bmwguy
    Closed Accounts Posts: 2,006 ✭✭✭bmwguy


    Nicola20 wrote: »
    I read somewhere that if you've earned under 5k in the course of the year it's not taxed, that sounds too good to be true though.

    No, unfortunately not. You pay your marginal rate on all income. So if you paying top rate tax and prsi/usc you will continue to pay that rate on the side income.

    If you pay lower rate, this 5k may push you into higher rate and you will pay some at lower rate and some at higher rate in that case.

    I would hazard a guess most side incomes are not declared if they are small


  • #5
    Sleeper12
    Registered Users, Registered Users 2 Posts: 17,157 ✭✭✭✭Sleeper12


    callaway92 wrote:
    I'd have guessed for freelance work there is perhaps a quota of what you can earn extra out of normal work without being taxed? (At least I'd like that to be the case anyway )

    Wouldn't that be great!


  • #6
    callaway92
    Registered Users, Registered Users 2 Posts: 14,847 ✭✭✭✭callaway92


    Sleeper12 wrote: »
    Wouldn't that be great!

    :p


  • Advertisement
  • #7
    OttoPilot
    Registered Users, Registered Users 2 Posts: 540 ✭✭✭OttoPilot


    Register for myAccount on revenue.ie You can declare extra income through myAccount.


  • #8
    lakill Farm
    Registered Users, Registered Users 2 Posts: 4,735 ✭✭✭lakill Farm


    Ireland operates a self assessment on income derived from outside the PAYE or payroll scheme.

    So all income you received during the year outside of your salary/wages must be made by the following 31October tax deadline

    If your self employed income is , or is above €3,174 you file a form 11

    If the income is below €3174 you file a form12

    any issues message me


  • #9
    what recession?
    Registered Users Posts: 110 ✭✭what recession?


    lakill Farm wrote: »
    Ireland operates a self assessment on income derived from outside the PAYE or payroll scheme.

    So all income you received during the year outside of your salary/wages must be made by the following 31October tax deadline

    If your self employed income is , or is above €3,174 you file a form 11

    If the income is below €3174 you file a form12

    any issues message me
    +1

    Form 11 and Form 12 can be filed online through Revenue.ie once you register (it's simple to register).


Advertisement