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Self-employment tax ememption

  • 16-06-2015 5:07pm
    #1
    Victor
    Registered Users, Registered Users 2 Posts: 78,580 ✭✭✭✭


    As I understand it, self employment up to €2,000-3,000 per yea doesn't attract income tax, but I saw something recently that made me doubt myself.

    Or do I have that wrong?


Comments

  • #2
    adrianw
    Registered Users, Registered Users 2 Posts: 236 ✭✭adrianw


    if you are self employed you will still be entitled to the personal credit of €1,650. so you would need to earn €8,250 before paying income tax.

    if you are working and earning money from self employment as well it will be fully taxable.

    You may be confusing it with the requirement to file a form 11 self assessment income tax return. If you earn less than €3,174 you can complete a form 12 instead.


  • #3
    nompere
    Registered Users, Registered Users 2 Posts: 1,678 ✭✭✭nompere


    Victor wrote: »
    As I understand it, self employment up to €2,000-3,000 per yea doesn't attract income tax, but I saw something recently that made me doubt myself.

    Or do I have that wrong?

    Wishful thinking, I'm afraid.

    I suspect what you have in mind is that Revenue don't put taxpayers with self-employed income of around €3000 (I can't recall the precise figure, and it's the principle that matters) through the whole self-assessment tax system, including Form 11, preliminary tax and all that. They can just include the income on a Form 12. It applies to rents and other non-PAYE sources of income as well.


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