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Changing from sole trader to paye

  • 15-12-2011 6:37pm
    #1
    voxpop
    Registered Users, Registered Users 2 Posts: 2,800 ✭✭✭


    I've changed from a sole trader to a paye worker recently - how do I handle my tax for 2011? Do I just run my tradingb year to Nov(when I stopped being a sole trader) or run it till the end of year and add in the paye amount on my tax return.


Comments

  • #2
    Alan Shore
    Registered Users, Registered Users 2 Posts: 735 ✭✭✭Alan Shore


    Has your sole trader enterprise ceased. If so then you will be taxed from the 1 january to the date of cessation. This will be added to the PAYE income to find your income for the tax year 2011.

    If your sole trader enterprise has not ceased you use the income for your annual accounts and the PAYE income to get your income for 2011.


  • #3
    voxpop
    Registered Users, Registered Users 2 Posts: 2,800 ✭✭✭voxpop


    Well i guess my sole trader enterprise has ceased - i was just working as an IT contractor for a company. I moved jobs to the paye position. Just wondering what the proper tax way to do this is - or is there any benifit either way - dont want to be taxed twice


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