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App development and freelancing on the side - taxation

  • 22-07-2015 11:28pm
    #1
    Creator
    Closed Accounts Posts: 5 ✭


    Hi guys,

    Now before anyone tells me that there isn't any money in app development as an indie, don't worry, I already know.

    Now on to why I'm here. I've been picking up a few new skills for fun lately learning to develop iPhone apps and I was thinking of seeing if I could make a small bit of money through adverts and freelance jobs in the evening and weekends on the side. My primary goal is just to have some fun, not make bank.

    I'm not expecting to earn much, not enough to cover an accounts fees that is for sure.

    I work full time and paying my PAYE so I'm curious, if a bit of money, potentially reaching several hundred over the course of the year, started trickling in then what do I need to do?

    My full time PAYE job will be remaining as my primary source of income but do I need to register as something, what forms should I look at?

    I appreciate any advice you guys have, I'm still youngish and never understood this stuff too well.

    Thanks,
    C


Comments

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


    Creator wrote: »
    Hi guys,

    Now before anyone tells me that there isn't any money in app development as an indie, don't worry, I already know.

    Now on to why I'm here. I've been picking up a few new skills for fun lately learning to develop iPhone apps and I was thinking of seeing if I could make a small bit of money through adverts and freelance jobs in the evening and weekends on the side. My primary goal is just to have some fun, not make bank.

    I'm not expecting to earn much, not enough to cover an accounts fees that is for sure.

    I work full time and paying my PAYE so I'm curious, if a bit of money, potentially reaching several hundred over the course of the year, started trickling in then what do I need to do?

    My full time PAYE job will be remaining as my primary source of income but do I need to register as something, what forms should I look at?

    I appreciate any advice you guys have, I'm still youngish and never understood this stuff too well.

    Thanks,
    C

    You'll need to calculate out how much of a profit you've made, after any expenses you've incurred.

    Then, as long as the profit after expenses is under €3174, you can declare the income on a Form 12, which is a tax return for PAYE taxpayers.

    If it's over the 3174, you'd need to register yourself as self assessed with a TR1 form, and would have to file a Form 11 each year, a self assessed taxpayer tax return. You'd also have to pay preliminary tax each year.


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