Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Taxation / declaration of income from extra work

  • 02-10-2012 7:04pm
    #1
    BooToe
    Registered Users, Registered Users 2 Posts: 2 ✭


    Hi all,

    You'll have to bear with me as I'm not well versed on this.

    I do a bit of work for an Internet company in the UK in the evenings and weekends and invoice them monthly - not currently registered as a sole trader. I invoice them roughly €600 a month and have been working for them since May of last year.

    I want to stay above board but the whole area do somewhat stump me - especially with regards to the VAT threshold etc.

    Should it just be declared or am I also liable for tax?

    I should have looked into it sooner but I know vat returns are due in the next month (typically Oct / Nov, right?) for last year so where do I start exactly?

    edit: OK, so I'm a bit clearer.

    I don't need to register for VAT since I'm not taking close to the threshold, but obviously need to declare income tax.

    Also never registered as a sole trader.. am aware I'll probably be penalised for this.. but will be completely honest when I say I wasn't aware it was a necessity. I thought I could just fill in an additional form for this income.

    I'm now quite worried about the whole thing as I know I was very naive in this regard, so aim to fix it ASAP.

    It's also worth mentioning I have a full time job outside of this "extra work" paying relevent taxes / PAYE.


Advertisement