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Income Tax to be paid on a Service

  • 01-06-2012 8:48am
    #1
    John_10
    Registered Users, Registered Users 2 Posts: 11 ✭


    If a self employed contractor, which was not VAT registered was to charge 10,000 for a service, then what would his net take home pay be ?

    Basically what would the VAT and income tax breakdown be, approximately.

    Thanks for any information and help.


Comments

  • #2
    MBateson
    Registered Users, Registered Users 2 Posts: 169 ✭✭MBateson


    There would be no VAT if he wasn't VAT registered.

    The income tax would depend on his other income for the year. If no other income, he would under the exemption threshold and would pay no income tax. Would still have to file a tax return.

    Might be a small PRSI charge, I can't recall off hand what the threshold for that is.


  • #3
    Shane732
    Registered Users, Registered Users 2 Posts: 4,998 ✭✭✭Shane732


    This is a live topic for the Revenue Commissioners.

    Is the relationship that of one of a employee or a self employed individual?

    Are you registered for income tax at the moment?


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