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Allowable Expenses

  • 14-09-2016 04:58PM
    #1
    Registered Users, Registered Users 2 Posts: 3


    Hi, I am a PAYE worker who is setting up a dance class. As far as I know the way I handle it is I can do a self assessment online of how much I estimate I will earn for the year as extra income, tax on the extra income will come out of my pay cheque and then at the end of the Tax Year - October - I fill in a form with my actual earnings.

    What I would like to know really is what Expenses can be deducted from my extra income before I estimate earnings for Revenue. I will be paying insurance, an organizational fee, Garda Clearance and Rent on a dance hall and I presume all these can be deducted. Can I claim back petrol and/or Travel and Sub? Is there anything else that would be deductible?


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