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Tax Payable on Grinds/Consultancy

  • 26-07-2011 10:30am
    #1
    suzie987
    Registered Users, Registered Users 2 Posts: 174 ✭✭


    Hi,

    I am a PhD student who offers grinds on a free advertising website. I meet some clients face to face or can do some work for them via email (so I suppose that would be consultancy more than grinds). I am usually paid in cash, cheque or most often the client lodges the money into my AIB bank account. I am starting to get worried now because so far this year at least 10 different people have lodged random amounts of money into my account. I keep a record and since February I have earned around €1000. Should I be paying tax on this? Will the bank get suspicious about the lodgements into my account?

    I have a scholarship and stipend for my PhD and when I started my PhD I signed a tax waiver form so that I would not have to pay tax on the stipend I receive. Not sure if it is relevant but the stipend is €18k annually for 4 years.

    Would appreciate any help!


Comments

  • #2
    maddogcollins
    Registered Users, Registered Users 2 Posts: 998 ✭✭✭maddogcollins


    By right you should pay tax on all income. This would be on an annual basis tho. i.e 2011 would be returned in 2012 on a form 12. Look up form 12 on revenue.ie. It will not affect your tax free scholarship.


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