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Re: Taxation On Other Earnings

  • 09-03-2010 4:18pm
    #1
    Luckycharms_74
    Registered Users, Registered Users 2 Posts: 6,684 ✭✭✭


    Hi All

    I wish to find out about taxation on other earnings. I'm a PAYE worker but play music part time in a band. I want to declare an amount to the revenue. I called revenue about this and they told me there is a threshold regarding other earnings. She said the figure is €3250 if you are under that you can get revenue to adjust your TFA on your PAYE details, if you go over this threshold you are technically classes as self employed. If anyone out there has suggestions about this it will be appreciated.


Comments

  • #2
    Ricosruffneck
    Registered Users, Registered Users 2 Posts: 2,130 ✭✭✭Ricosruffneck


    She pretty much answered it for you?


    I'm not sure what the question is.

    You want to know how to pay the tax? If you are under that magic number then we code it in for the year against your tax credits so you don't have to worry about it; unless you estimated the yearly amount incorrectly. At that point you would have an underpayment of tax for that year. But at any point of before mid November we can adjust your credits to accommodate your other incomes.


  • #3
    Luckycharms_74
    Registered Users, Registered Users 2 Posts: 6,684 ✭✭✭Luckycharms_74


    Ricosruffneck wrote: »
    She pretty much answered it for you?


    I'm not sure what the question is.

    You want to know how to pay the tax? If you are under that magic number then we code it in for the year against your tax credits so you don't have to worry about it; unless you estimated the yearly amount incorrectly. At that point you would have an underpayment of tax for that year. But at any point of before mid November we can adjust your credits to accommodate your other incomes.

    Thx for the reply. I guess I just send a letter to revenue stating this and get them to adjust my Tax Credits to reflect this income.
    Is the figure she quoted correct. She was not 100% sure on that :eek:


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