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paye and farming income

  • 18-03-2018 6:12pm
    #1
    joeyboy12345
    Registered Users, Registered Users 2 Posts: 185 ✭✭


    I am a paye worker. Last year i took out a herd number for the first time, took a 5year lease on a block of land. Its only a small hobby farm. I made no profit on it last year, i also recieved a basic payment from the government. I did not file a tax return and am looking to do so now. Am i too late? Also can i write off any loss on the farm against my paye income?what is the procedure?thank you.


Comments

  • #2
    lakill Farm
    Registered Users, Registered Users 2 Posts: 4,735 ✭✭✭lakill Farm


    joeyboy12345 wrote: »
    I am a paye worker. Last year i took out a herd number for the first time, took a 5year lease on a block of land. Its only a small hobby farm. I made no profit on it last year, i also recieved a basic payment from the government. I did not file a tax return and am looking to do so now. Am i too late? Also can i write off any loss on the farm against my paye income?what is the procedure?thank you.

    You can’t on a hobby farm. It needs to be run in a commercial manner

    Sending a pm


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