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Freelance Journalist VAT/Invoice Question

  • 21-05-2013 5:14pm
    #1
    pabloroxx
    Registered Users, Registered Users 2 Posts: 30 ✭


    Slightly confused here.

    I have a full time Mon-Fri job but in my spare time I write freelance.
    I spent years writing voluntary and recently began to get some paid work. So I am wondering:

    1. Do i need to declare on any earnings I make from being paid as a freelance writer? I am already being taxed through my day job so I don't know if I need to inform revenue.ie of the extra income etc. (I would imagine I would but taxation confuses the hell out of me)

    2.When I invoice my editor, what do I include and if the pay is, for example, 50Euro, do I calculate the tax rate and tack that onto the fee? If so, what tax band does this come under?

    Apologies in advance if these questions are obtuse and simply answered, any help would be greatly appreciated.


Comments

  • #2
    srsly78
    Registered Users, Registered Users 2 Posts: 7,157 ✭✭✭srsly78


    1. Yes you must declare all your income: http://www.revenue.ie/en/tax/it/leaflets/it10.html How can you be confused about this part? Not declaring income is simply tax fraud.

    2. There is no VAT to charge unless you are regd for vat. You charge your client the full gross amount. Paying tax on this income is then up to you.


  • #3
    pabloroxx
    Registered Users, Registered Users 2 Posts: 30 ✭pabloroxx


    I was confused insofar that as I am already paying tax with my day job would that tax just increase to reflect my extra extra earnings.

    Thanks


  • #4
    srsly78
    Registered Users, Registered Users 2 Posts: 7,157 ✭✭✭srsly78


    That would depend on how your tax credits are allocated. Usually it's simplest to think of the extra income as coming after the paye income, so all the tax credits have been used up at that stage - and you probably have to pay the full whack on this extra income (marginal rate+usc+prsi).

    Ring the tax office (number in link above for queries about self assessment) and ask them to explain it better to you.


  • #5
    dbran
    Registered Users, Registered Users 2 Posts: 2,094 ✭✭✭dbran


    Hi Pabloroxx

    If your income is relatively low circa €3k per annum you may need to complete a form 12 from the revenue. Do a search for this form on revenue.ie.

    This will enable the additional tax that you owe to be deducted from your PAYE salary. You will need to complete that return for every year each October.

    Only if the income in more substantial would you need to register for income tax and self assessment.


    Best regards

    dbran


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