A friend of mine works as an accounts administrator full time, as a PAYE worker.
He also does payroll for a small company. He invoices the small company twice a year, and gets paid by cheque. The total amount is approx 800 euro a year.
He does not want to avoid (or should it be evade?) any tax he should pay on the 800 euro, so how does he go about informing the revenue of this extra income? What form does he fill out, and how will he have to pay any tax that is due? Will he have to send in a cheque for tax owed, or will his PAYE tax credits be reduced or what will happen?
He is on the lower tax rate for his PAYE job.
Many thanks
He also does payroll for a small company. He invoices the small company twice a year, and gets paid by cheque. The total amount is approx 800 euro a year.
He does not want to avoid (or should it be evade?) any tax he should pay on the 800 euro, so how does he go about informing the revenue of this extra income? What form does he fill out, and how will he have to pay any tax that is due? Will he have to send in a cheque for tax owed, or will his PAYE tax credits be reduced or what will happen?
He is on the lower tax rate for his PAYE job.
Many thanks
