Registering as a freelancer

arcreactor

I used to work as a freelancer when I was still in school until I realised I was supposed to be declaring tax and stopped. However now I'd like to go back to freelancing because I can't find work anywhere else and I'd like to help out at home by at least paying my bus fare to college.

I don't believe I'd earn enough to have to pay tax anyway but I know I have to declare myself. However, I keep getting confused when I'm reading through revenue.ie and I'm not sure what forms I have to fill out to adequately declare that I'm freelancing. I don't want to do it wrong.

I'd get an accountant's advice but by the looks of the fees I'd be charged, I don't think it's feasible. I'd never make enough to pay an accountant and still have enough money for it to be worthwhile.

If anyone has any advice or some 'registering for tax for dummies' step by step guide I would be extremely grateful.

drunkmonkey

http://www.citizensinformation.ie/en/money_and_tax/tax/income_tax/taxation_of_self_employed_people.html

SBG387

The website for TaxAssist Accountants is also pretty good - In the RESOURCES section, you may find some useful guides. (boards.ie does not let me include a URL here so search google for "taxassist accountants resources".

[NOTE: I am not a tax expert and I am no longer a sole trader so the rest of my advice below may be inaccurate]

A few years ago, TaxAssist Accountants used to help people register with Revenue for free but I'm not sure this is still the case.

From what I recall (it was a few years ago), the actual process is straightforward and involves sending a form (Form TR1) to Revenue to let them know you are starting to earn an income and so need to register for income tax.

If you don't think you'll earn enough to pay income tax, then you won't earn enough to need to register for VAT on this form.

At the end of the year, you need to tell them what you earned (sales) and what you spent (expenses). The difference is your profit and would be treated in the same way as if you earned this while working behind the counter of a local shop. I think the form to be filled in is a Form 11.

The Revenue Commissioner's website is pretty informative - e.g. search for 'revenue commissioners starting business' on Google.

PS Well done on taking the initiative and thinking about creating a job for yourself. I hope you succeed while you're at college. And who knows - Maybe you'll never need to find a 'real job' after college!

arcreactor

I'm sorry for the late reply but thank you so much! Your advice was so helpful to me and I really appreciate it.