Extra income - Tax implications

J

JulyBaby

Guest
I'm a PAYE earner. I've been offered a small amount of contracting work on the side. Not sure what this is worth yet but lets say in the €1000 to €2000 range.
Could somebody tell me if I need to declare this amount for tax or is there any way of avoiding paying the tax (legally of course)?
 
My (non expert) understanding is that under c. €3K of additional non PAYE income you just add it to your gross and declare it on a Form 12 or whatever and pay the additional tax/PRSI liabilities that arise. Above the c. €3K limit and you become self assessed. If in doubt get independent, professional advice. This Revenue summary guide might be of interest to you:

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