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Self Imployed Basic Tax Query

  • 20-07-2011 12:22pm
    #1
    Equanimity
    Registered Users, Registered Users 2 Posts: 36 ✭


    Hi there

    Just a very basic question, am self employed as a consultant - no staff etc., was registered for VAT but unregistered as I was not taking in enough to need to. My year 1 was interrupted with pregnancy so no earnings really. I will be filing a return nearer to Oct & hiring an accountant to do all of that so not trying to avoid paying someone!
    My question is, as I recieve payments from clients, how do I roughly calculate how much to set aside for my taxes due in Oct? I just want to put it aside so I have it when it's due or I will end up spending it!

    Or if someone can guide me to a link which may help me calculate - keep in mind I am blonde so need a 'dummies guide' style guide :eek:!

    Thanks in advance
    SQ


Comments

  • #2
    mari2222
    Registered Users, Registered Users 2 Posts: 568 ✭✭✭mari2222


    put away one third to cover tax prsi usc etc.


  • #3
    Equanimity
    Registered Users, Registered Users 2 Posts: 36 ✭Equanimity


    That's great, thanks a million!:)


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