springbaby
Registered User
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Hi
Looking for some advice please regarding declaration of extra income. I am a PAYE worker but have a second income that I want to ensure I declare properly. For the 2018 year I am trying to fill out a Form 12 as income to be declared is €2500 approx. I have to declare it myself as tax isn't deducted at source. I cant seem to do it online and am thinking its possible because my husband is self employed. I've never had to do this before. Can I send in a postal Form 12 at this stage or do I wait until October when my husband files. I will be taxed at top rate. Approx with USC, PRSI, Tax etc what percentage can I expect to be deducted.Can I also opt to pay Revenue direct as I don't want to affect my tax credits if possible.
Thanks for your help.
You are a PAYE worker so as long as you have less than 5k taxable income to declare you fill in a form 12. You can do it online if you are registered for ROS. If not I'd register as it makes the filling in easier and you have till October to complete. Failing that just fill in the paper form and send it in. Revenue will send back a form 21 which will detail what the tax due is. I would put a note in also to ask them to send you the amount owed and you will forward a cheque or bank transfer as I believe the default option will be to reduce your credits for 2019.
Would anyone know if I need to register as a sole trader? My non paye income will be about 3k but I cant file a form 12 as hubby files form 11 and were jointly assessed.
All your income both PAYE and non PAYE must be included on your spouse's form 11 if you are jointly assessed.
You can sign up for ROS fairly quickly. When was the rental income earned ? If it's 2019 you don't need to fill in a form 12 till 2020 (up to October). If it's 2018 it is due by October 31st this year. Doing it on ROS fills all the fields for you such as your PAYE income so it's easier but you can fill out a paper one too. You don't need to pay the tax immediatley with form 12 but they will send out a P21 balancing statement asking for whatever is due.
Thanks again for replying. I did not get notifications so didn't realise anyone had actually replied!
Ok...I have MyAccount setup already. So can I use that? Do I still fill out an F12?
The rental income is from farm/land lease and is €4800.
Thanks again in advance.
Thanks again for replying. I did not get notifications so didn't realise anyone had actually replied!
Ok...I have MyAccount setup already. So can I use that? Do I still fill out an F12?
The rental income is from farm/land lease and is €4800.
Thanks again in advance.
Hi, What would the approx tax amount be due on the 5k. Thanks
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