I have a PAYE job earning 400 a week, and so my employer pays a Class A contribution.
I also perform a service (IT nixer) that brings in less than 3174 per year.
On my last Form 12 return I just wrote that into Section 10 "Income from a trade or profession" and all was well.
THis year my nixer income is likely to be 7000, thats over the 3174 ceiling.
SO I think I have to send a TR1 Tax Registration Form to the Revenue, but I'm not happy about that. It looks like if I do I will have more work to do.
I'll have to complete a lenghty Form 11e instead of a Form 12
I'll have to pay a Class S contribution on my sole trader income (Class is near useless at the best of times, but its pointless for me as my employer is already paying a Class A)
I'm tempted to curtail my nixer and keep earning less that 3174
I need some words of wisdom or are there holes in my post?
I also perform a service (IT nixer) that brings in less than 3174 per year.
On my last Form 12 return I just wrote that into Section 10 "Income from a trade or profession" and all was well.
THis year my nixer income is likely to be 7000, thats over the 3174 ceiling.
SO I think I have to send a TR1 Tax Registration Form to the Revenue, but I'm not happy about that. It looks like if I do I will have more work to do.
I'll have to complete a lenghty Form 11e instead of a Form 12
I'll have to pay a Class S contribution on my sole trader income (Class is near useless at the best of times, but its pointless for me as my employer is already paying a Class A)
I'm tempted to curtail my nixer and keep earning less that 3174
I need some words of wisdom or are there holes in my post?