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Joint assessed but PAYE and Self Employed

  • 29-06-2016 7:46am
    #1
    JB81
    Registered Users, Registered Users 2 Posts: 587 ✭✭✭


    Hi All

    Looking some help.

    My wife and I are currently joint assessed for tax. We both worked PAYE up to Sept 15. At that point she went self employed as a registered childminder.
    We are told that she must do a tax return in October.
    How does this work with my PAYE year ending in Dec? as we are jointly assessed.
    She will probably be due to pay some PRSI in October but i was hoping we would not have to pay it and it could be all completed at the end of the year with mine, is this possible?

    I may not be explaining this right, so if anyone knows anything about it please ask me for more information if neeeed,

    Regards
    JB


Comments

  • #2
    seamus
    Registered Users, Registered Users 2 Posts: 68,317 ✭✭✭✭seamus


    You have to file a tax return for 2015 by October 2016. Your tax returns for 2016 are not due until October 2017.

    The return you file this October will be a combination of your P60 for 2015, her last P45 and her self-employed income from Oct 2015 - December 2015.

    In 2017 then you will file a return using your P60 for 2016 and her self-employed income for 2016. The form for this is usually available by mid-January, so you don't have to wait till October.


  • #3
    JB81
    Registered Users, Registered Users 2 Posts: 587 ✭✭✭JB81


    Ok, thanks for that.

    She actually did not have any income from sept 15 - dec 15, and only really started earning in jan 16 this year. Does this mean she will still have to do a return this october as we have already recieved a tax rebate for 2105 PAYE earnings already?

    As a childminder my wife is vat exempt up to €15k, but is still liable ( or able to pay voluntarily ?? im not sure which ) for PRSI contributions.
    I am just wondering if these contributions cover her to get maternity benefit, sick benefit, job seekers benefit if she ever required any of them in the future, and also if they contribute to the state pension as she would have done during her PAYE days.

    This is all new to me

    Regards
    JB81


  • #4
    seamus
    Registered Users, Registered Users 2 Posts: 68,317 ✭✭✭✭seamus


    For both your sakes it will be worth your while to book 2 hours with an accountant who can go through all of this with you, limits, how to file, what you can claim as expenses, etc etc.

    If your wife had no income from Sep 15 to Dec 15 then you have no need to file a return for that period.


  • #5
    JB81
    Registered Users, Registered Users 2 Posts: 587 ✭✭✭JB81


    thanks for your help


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