PAYE and selling on Ebay

Amouar

Hi,

First , apologies if this has been asked in the past.

I'm currently on a full time permanent employment, and therefore paying my taxes via PAYE.

I'm thinking of starting to sell stuff on Ebay, and I expect that the total transactions for the whole year will be less than 10k€.
My questions are:

1) Do I need to declare myself as a sole trader or there is no need to do that?

2) Do I need to include Ebay income on form 12 or I need to use a different form?

Thanks a lot for your help.

nava

MOD: Moved to Taxation, I think best suited than Online Buying & Auctions

Amouar

No ones knows?

exaisle

Amouar wrote: »

No ones knows?

if your profit after allowable expenses is less than €5k then you can include your self employed earnings on a form 12.

However, you would be better off seeking the advice of an accountant rather than relying on the good folk at boards.ie...

exaisle

Amouar wrote: »

No ones knows?

if your profit after allowable expenses is less than €5k then you can include your self employed earnings on a form 12.

However, you would be better off seeking the advice of an accountant rather than relying on the good folk at boards.ie...

Amouar

Thanks!

nompere

exaisle wrote: »

if your profit after allowable expenses is less than €5k then you can include your self employed earnings on a form 12.

However, you would be better off seeking the advice of an accountant rather than relying on the good folk at boards.ie...

Particularly as the the limit for filing on a form 12 is €3,174, not €5,000.

faceman

Amouar wrote: »

Hi,

First , apologies if this has been asked in the past.

I'm currently on a full time permanent employment, and therefore paying my taxes via PAYE.

I'm thinking of starting to sell stuff on Ebay, and I expect that the total transactions for the whole year will be less than 10k€.
My questions are:

1) Do I need to declare myself as a sole trader or there is no need to do that?

2) Do I need to include Ebay income on form 12 or I need to use a different form?

Thanks a lot for your help.

Yes you will need to declare this income unfortunately. For piece of mind it's much easier to just get an accountant to do it and there are firms out there who will do it for a fixed price.

Amouar

nompere wrote: »

Particularly as the the limit for filing on a form 12 is €3,174, not €5,000.

Seems like this increased this year.

"A Chargeable Person is an individual who has non-PAYE gross income in excess of €50,000 or assessable non-PAYE income of €3,174 or more. With effect from 01/01/2016, the limit is increased to €5,000."

Amouar

faceman wrote: »

Yes you will need to declare this income unfortunately. For piece of mind it's much easier to just get an accountant to do it and there are firms out there who will do it for a fixed price.

Do I need to declare my self as sole trader on the top of my current full time permanent job, or I can just start selling on Ebay and at the end of the year declare Ebay's income?

faceman

Amouar wrote: »

Do I need to declare my self as sole trader on the top of my current full time permanent job, or I can just start selling on Ebay and at the end of the year declare Ebay's income?

Contact revenue, they're quite helpful. Let them know you want to register as self assessed in addition to being PAYE. You won't have to pay tax on this year's eBay income until next year in most cases. (But bear in mind that next year you will have to pay 2016 and 2017 tax on filing.)

gerrybbadd

nompere wrote: »

Particularly as the the limit for filing on a form 12 is €3,174, not €5,000.

The threshold has been raised to 5K