Extra Income Taxation

nnnbbb

Hey, I've decided to start working freelance a little. I earn just above min wage on a 9-5 job. With the freelance I won't make more than 1K - 1.5k in the year and was wondering how paying the tax on it works. They'll be cash in hand or cheque paid, not like through a companys pay system. I heard about a 12a form but had some questions:

• Do I fill out the form for each job?
• What rate of tax will I have to pay?
• Will I have to pay the tax straight away or does it get paid once a year? (Months after getting the money from the job that would be tricky as the tax would come after I've spent it, need to know what the rate would be to save the money for the bill)
• Would the 1-2K fall below taxable income?

Thanks!

monkeysnapper

From what I gather, if you earn less than 3200 a year you just need to declare it with tax office and it comes out of your paye direct from employer, if its over you need to fill out a tr1 I think and register for tax , somebody correct me if I'm wrong by all means

nnnbbb

From my 9-5 job I earn a salary, and will earn 1-2k from the side job this summer. You're saying if I simply declare the extra income it will come out of my regular salary? Can I declare it on www.revenue.ie?

monkeysnapper

Don't hold me to this but from what I understood , they calculate the extra money you made on same rate of tax as your paye job and add it to the amount of tax paid for the year , and you just get your usual p60 at end of year , if you make over the 3200 then I'm not sure.

I think you just pop into your local tax office and declare it . You should go in and talk to them, I find them a helpful bunch

Citizenpain

Just fill out a form 12 once the year is over - you can declare it here...