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2nd job

  • 26-07-2019 3:46pm
    #1
    Gachla
    Closed Accounts Posts: 255 ✭✭


    I'm pretty clueless about taxation. What if someone had a job where they paid tax through paye but got a second job where they were self employed. Do they pay tax in November under the self declared system or how would this work?


Comments

  • #2
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    Gachla wrote: »
    I'm pretty clueless about taxation. What if someone had a job where they paid tax through paye but got a second job where they were self employed. Do they pay tax in November under the self declared system or how would this work?

    Bit of reading for you.

    This is for if your net taxable income from the non PAYE income is over 5000 euro a year.

    https://www.revenue.ie/en/self-assessment-and-self-employment/guide-to-self-assessment/index.aspx

    This is for you if your net taxable income from the non PAYE income for the year is less than 5000 euro.

    https://www.revenue.ie/en/additional-incomes/is-your-extra-income-taxable/index.aspx


  • #3
    Gachla
    Closed Accounts Posts: 255 ✭✭Gachla


    relax carry on wrote: »
    Bit of reading for you.

    This is for if your net taxable income from the non PAYE income is over 5000 euro a year.



    This is for you if your net taxable income from the non PAYE income for the year is less than 5000 euro.

    I've read your links but like I said, I'm clueless on this. Does this mean it's irrelevant if the person has another job, they will pay income tax on the 2nd job as if it was their only job?
    And I looked at the income tax calcultor, it says if 10,000 is earned a year, after 20% tax but less personal tax credits, the total deductions are 0. Am I being an idiot and not looking at this right?


  • #4
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    Gachla wrote: »
    I've read your links but like I said, I'm clueless on this. Does this mean it's irrelevant if the person has another job, they will pay income tax on the 2nd job as if it was their only job?
    And I looked at the income tax calcultor, it says if 10,000 is earned a year, after 20% tax but less personal tax credits, the total deductions are 0. Am I being an idiot and not looking at this right?

    All your taxable income is looked at together when you file a tax return. Your additional non PAYE income will be added to your gross and taxed accordingly.

    For example say you've earned 35000 gross with your PAYE job, the additional non PAYE income will be taxed at 40%.


  • #5
    Gachla
    Closed Accounts Posts: 255 ✭✭Gachla


    relax carry on wrote: »
    All your taxable income is looked at together when you file a tax return. Your additional non PAYE income will be added to your gross and taxed accordingly.

    For example say you've earned 35000 gross with your PAYE job, the additional non PAYE income will be taxed at 40%.

    Ah I see! Thanks, I get it now.


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