paying tax on a once a year job

bungaro79

hi
myself and a friend of mine are looking into running a week long camp this summer. it will hopefully be an annual thing and it will be just the two of us. we are hoping to earn about €400/€500 each for the week after all costs are covered. where do i go about paying the tax on this?? is it at the end of the year or can i pay it once i have the cash?? we both have a regular job as teachers so i'm thinking we would be classed as self employed for this??
thanks

francislynch

You need to register as a solo-trader with revenue, you'll be given access to revenue online services to fill your returns. Best bet is get yourself an accountant, would be pretty cheap as you won't have much invoices

m1ck007

Cash. Say nothing.

bungaro79

thanks for the replies lads. would love to take that option mick but heard a lot of people getting caught lately so don't want to take the chance!

rahmalec

Don't get an accountant for that amount as it'll probably cost you what you make.
You might as well not bother doing the job.

Google form 12.
http://www.revenue.ie/en/online/eform12/

Arbiter of Good Taste

You expect the net €500, but what is the gross income (each) before expenses. I think if it's less than €3,000 you fill out a Form 12, otherwise it's a Form 11. Not sure if the number is right, but ring Revenue and they will advise.

Either way, you should be able to do it yourself

Assuming it's a Form 12, you should be able to register with PAYE online. If its Form 11, register with ROS. Both are on www.revenue.ie

In any event, it should be very easy. I wouldn't bother with an accountant. If you have any questions, ring Revenue, they are normally very helpful.

bungaro79

cheers, rang up revenue and they were really helpful like was mentioned. the online form does a lot of it for you apparently once you fill in the different areas which is good to know!