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tax on work on side

  • 04-03-2014 1:32pm
    #1
    ruskin
    Banned (with Prison Access) Posts: 400 ✭✭


    Hello,
    I work full time as a graphic designer but in the last month or so, I have started to get some projects on the side, and it seems there will be a few more coming to me. What do I have to do to account/pay necessary tax etc. on this extra work I am getting? Excuse the ignorance of this post, but I've never been in this situation before.


Comments

  • #2
    gerrybbadd
    Registered Users, Registered Users 2 Posts: 10,301 ✭✭✭✭gerrybbadd


    ruskin wrote: »
    Hello,
    I work full time as a graphic designer but in the last month or so, I have started to get some projects on the side, and it seems there will be a few more coming to me. What do I have to do to account/pay necessary tax etc. on this extra work I am getting? Excuse the ignorance of this post, but I've never been in this situation before.

    It depends on how much you would earn. For example, if you earn under €3175 in the year, this can be dealt with via the PAYE System, and you would declare it on a Form 12 tax return.

    However, if the income is over this amount, you'd be deemed "chargeable" for income tax purposes, and would be obliged to return this under the self assessment basis of taxation. You would return the income on a Form 11 tax return, after having being registrered as Self Assessed


  • #3
    ruskin
    Banned (with Prison Access) Posts: 400 ✭✭ruskin


    My problem is that I've only started getting this additional work, it is fairly sporadic but I want it all to be above board should I encounter the taxman. I imagine my extra earnings would be over that 3175 figure this year. Do I register for tax? how do I do this?


  • #4
    gerrybbadd
    Registered Users, Registered Users 2 Posts: 10,301 ✭✭✭✭gerrybbadd


    ruskin wrote: »
    My problem is that I've only started getting this additional work, it is fairly sporadic but I want it all to be above board should I encounter the taxman. I imagine my extra earnings would be over that 3175 figure this year. Do I register for tax? how do I do this?

    If you think that's going to be the case, you can get a TR1 form to register yourself as self assessed initially. This is available from revenue.ie


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