Yet another PAYE / Self-Assesed question

irishnian

Hi everyone,

I have some troubles understanding how things work with Revenue / ROS. I have a 30k p/a job under PAYE and I will be making some freelance work during the year that probably will give me an extra 20k p/a, I'm registered in Revenue/myAccount as well. I have a couple of questions:

#1 - There is a "service" on their page to register for Income Tax, is this what I need to be self-assesed ?
#2 - Will my current employer find out that Im doing extra work outside my daily job ?
#3 - Should I also fill the TR1 form or the #1 covers that ?
#4 - After registering through #1 / #3, I just make invoices normally and before October the next year I declare what I earned again through their platform under the PAYE anytime service?
#5 - I know there's a limit of around 37k before registering to VAT, does my PAYE salary gets into consideration in there or just the extra earnings ? (AKA: 20k)

I think that's all for now, I searched through the forum but I couldn't find those answers. Thanks.

mark_m360

#1 Yes register for income tax.
#2 Not unless you tell them. If your performance in your day job drops because of the additional work you are completing outside, it may become an issue with your boss.
#3 1 will cover it.
#4 You complete a Form11 Income Tax return, which includes your PAYE income, and self-employed income and calculates your tax liability for the year in question. I'd recommend asking an accountant to complete this for you as you seem unfamiliar with the process.
#5 No, VAT is in relation to supply of services and/or goods, nothing to do with PAYE salary. Your self employed income is treated separately to that of your PAYE salary. VAT relates to the trade that you are engaged in.

irishnian wrote: »

Hi everyone,

I have some troubles understanding how things work with Revenue / ROS. I have a 30k p/a job under PAYE and I will be making some freelance work during the year that probably will give me an extra 20k p/a, I'm registered in Revenue/myAccount as well. I have a couple of questions:

#1 - There is a "service" on their page to register for Income Tax, is this what I need to be self-assesed ?
#2 - Will my current employer find out that Im doing extra work outside my daily job ?
#3 - Should I also fill the TR1 form or the #1 covers that ?
#4 - After registering through #1 / #3, I just make invoices normally and before October the next year I declare what I earned again through their platform under the PAYE anytime service?
#5 - I know there's a limit of around 37k before registering to VAT, does my PAYE salary gets into consideration in there or just the extra earnings ? (AKA: 20k)

I think that's all for now, I searched through the forum but I couldn't find those answers. Thanks.

irishnian

Thanks!