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PAYE & Additional Income over €3174

  • 20-09-2015 5:58pm
    #1
    RentDayBlues
    Registered Users, Registered Users 2 Posts: 2,131 ✭✭✭


    Can I just get some confirmation on this, as a PAYE worker if I earn additional income and it comes to over €3174 I must declare as self assessed and cannot use the Form12? Or does this just apply to self employed - I don't think it does


Comments

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


    RentDayBlues wrote: »
    Can I just get some confirmation on this, as a PAYE worker if I earn additional income and it comes to over €3174 I must declare as self assessed and cannot use the Form12? Or does this just apply to self employed - I don't think it does

    The 3174 applies to everyone, not just the self employed.

    You cannot use the Form 12 (well you can, but it may be returned to you, with a Form 11 for completion, and a TR 1 for registering yourself!)


  • #3
    RentDayBlues
    Registered Users, Registered Users 2 Posts: 2,131 ✭✭✭RentDayBlues


    gerrybbadd wrote: »
    The 3174 applies to everyone, not just the self employed.

    You cannot use the Form 12 (well you can, but it may be returned to you, with a Form 11 for completion, and a TR 1 for registering yourself!)

    Thank you, that's what I thought


  • #4
    RentDayBlues
    Registered Users, Registered Users 2 Posts: 2,131 ✭✭✭RentDayBlues


    Reopening this as I have another question and I cannot get to speak with anyone in the ROS helpline.

    The additional non PAYE income that we received is lower than we expected and now falls below the threshold for form 12. Does anyone know if I must go ahead and submit a return for the tax year using ROS or can I deregister (won't be getting any additional income) and then use the Form 12 for that tax year.


  • #5
    mirrorwall14
    Closed Accounts Posts: 6,751 ✭✭✭mirrorwall14


    I've a similar query, I'm not sure if I post here or in a new thread?


    When they say "net" over 3174 do they mean after I deduct tax in my head or before. I earn circa 5k extra before tax which I think means I am a chargeable person?


  • #6
    Citizenpain
    Registered Users, Registered Users 2 Posts: 2,004 ✭✭✭Citizenpain


    mirrorwall14 wrote: »
    I've a similar query, I'm not sure if I post here or in a new thread?


    When they say "net" over 3174 do they mean after I deduct tax in my head or before. I earn circa 5k extra before tax which I think means I am a chargeable person?
    Before tax ... The net means after allowable expenses


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  • #7
    Pawwed Rig
    Moderators, Category Moderators, Home & Garden Moderators, Recreation & Hobbies Moderators Posts: 22,430 CMod ✭✭✭✭Pawwed Rig


    Form 11 is no more difficult to fill out than a Form 12.


  • #8
    dbran
    Registered Users, Registered Users 2 Posts: 2,094 ✭✭✭dbran


    True, but there is a lot more consequences if a Form 11 is sent in incorrect or late.

    dbran


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