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

App revenue and taxation ?

Options
  • 02-02-2015 11:55am
    #1
    Gaz
    Registered Users Posts: 1,586 ✭✭✭


    So I went live with my degree project and to my surprise it has started generating revenue ... a very modest €12 in the first month :-)

    What are the tax implications for app revenue ? Is there a tax free limit? basically when should I declare ?

    The revenue may eventually cover hosting costs, so would I need to be a private company to write it off against this ??

    All advise appreciated.


Comments

  • Options
    #2
    The Corinthian
    Closed Accounts Posts: 19,777 ✭✭✭✭The Corinthian


    Strictly speaking, you would need to declare this as personal income, which after costs (not just hosting, but also your subscription to the app store) will be unlikely to be positive, thus leaving you with a negative tax bill (i.e. with the possibility to get a tiny bit tax back elsewhere).

    You do not need to be a limited company.

    In practice, for an amount so small, I wouldn't bother were I you.


  • Options
    #3
    Gaz
    Registered Users Posts: 1,586 ✭✭✭Gaz


    Out of curiosity, at what level would you be going to the hassle of declaring ?


  • Options
    #4
    The Corinthian
    Closed Accounts Posts: 19,777 ✭✭✭✭The Corinthian


    Gaz wrote: »
    Out of curiosity, at what level would you be going to the hassle of declaring ?
    That I can't say, but if you consider that after costs it's not even going to be 50 Euro either way, it really does seem like a waste of time for even the Revenue to do so. Maybe you should call and ask them?


  • Options
    #5
    techguy
    Registered Users Posts: 2,228 ✭✭✭techguy


    Hi,

    I think there is a certain threshold that if you are under you need not declare your income.

    I can't say for certain if this is true or not but I think it's in the region of high hundreds of euro.

    It is logical that this is the case because the amount of tax due isn't worth the cost of processing.


  • Options
    #6
    jimmii
    Registered Users Posts: 14,810 ✭✭✭✭jimmii


    It depends on your PAYE income. If your PAYE income is <€50k and the non-paye income is <€3,174 you fill out a Form 12. If your are outside of those boundaries then you complete a Form 11. You only have to complete the form 12 if Revenue ask you to but you can volunteer it if you wish.

    You can find out more on the Citizens Information site.


  • Advertisement
  • Options
    #7
    amen
    Registered Users Posts: 2,781 ✭✭✭amen


    I think there is a certain threshold that if you are under you need not declare your income.

    All income should be declared. There is no threshold for declaring income(well there are some schemes such as a Rent a Room, Child minding in your home but there are very specific)


Advertisement