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Paying tax as a journalist

  • 06-11-2011 2:46pm
    #1
    tommy21
    Closed Accounts Posts: 2,419 ✭✭✭


    Just wondering if anyone can point me to some links to research this. Finally getting a bit of traction in freelancing, so its a nice problem to have, but have no idea of tax issues, considering all my work to now has been taken care of my various employers. Cheers!


Comments

  • #2
    tommy21
    Closed Accounts Posts: 2,419 ✭✭✭tommy21


    Anyone? Mod - would you mind moving this to a more appropriate forum? Maybe Work and jobs? Thanks


  • #3
    flogen
    Moderators, Society & Culture Moderators Posts: 10,247 Mod ✭✭✭✭flogen


    You need to register as a sole trader and file your own taxes for each year on 31st October of the following year (so taxes for 2010 would have been filed last week).

    In doing this you need to account for your income and expenses for the year, as well as other more complex things like assets, liabilities etc.

    In filing you just need to give figures to Revenue but they of course reserve the right to audit you to see if you're being honest - this would be when you need to have proof of what you claimed on the tax form.

    I'd recommend registering with Revenue's Online System (www.ROS.ie); it's a pain in the arse to set up as it requires a number of authentication codes being sent via post for security reasons but it's worth it in the long run.

    I find the most useful part of this is that it shows you what bits you have to fill in as you go from one page to another so you don't miss anything. It also allows you to review the return before it's submitted... a few times that's shown up some pretty major errors I'd made in the submission which might have left me with a headache had I don't it by paper.

    (That said for the last two years I've got an accountant to file my return - it makes the process slightly easier on my end as the ROS form can take time to get right and I can claim the cost off the following years' return).

    On that note; another bit of advice is to keep track of your expenses - keep receipts for everything work-related etc. It's easy to forget but if you're organised with it it can help take a serious dent off your tax return.


  • #4
    tommy21
    Closed Accounts Posts: 2,419 ✭✭✭tommy21


    Thanks Flogen. At the moment its just a part-time gig - in the last year outside of my normal work (where my employer deducts tax) I've only earned in the region of a 1000 that has been untaxed. Is this below the threshhold? Just want to make sure moving forward I know what I'm doing!


  • #5
    flogen
    Moderators, Society & Culture Moderators Posts: 10,247 Mod ✭✭✭✭flogen


    tommy21 wrote: »
    Thanks Flogen. At the moment its just a part-time gig - in the last year outside of my normal work (where my employer deducts tax) I've only earned in the region of a 1000 that has been untaxed. Is this below the threshhold? Just want to make sure moving forward I know what I'm doing!

    There's not really a threshold - any non-PAYE income is supposed to be declared.

    To be honest, though, I'm not 100% on how you register yourself in your circumstance - or if you need to register yourself in a different way at all.

    My only experience is where I did PAYE work having already been registered as self-employed; I remained a sole trader, though, and the only issue then was what I did with my tax credits.

    In your case it would be best to leave them all with your normal work.


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