Form 11 e

[deldel]

Hi there,
I'm wondering if anyone can help me, I set up my own business (p/t)last yr as the company I was dealing with wanted VAT invoices, I have only made €3000.00 fees and have still been sending in Nil VAT receipts as work ceased middle of last yr.

I have recieved a 11e form, do I fill in the Income from Fees only?

Any comments would be apprenciated.

 

[Graham_07]

You would need to complete the income from self-employment (fees) and you are entitled to deduct any expenses "wholly and necessarily" incurred in the doing of the work, e.g. stationery, phone, motor etc. You also need to complete the form for any other income in the year ( PAYE income, deposit interest etc.) and for any claims for reliefs, e.g. refuse charges, medical expenses etc.

If you are unsure as to the proper completion of the return you should seek appropriate professional advice.

 

[deldel]

Thanks Graham,

All other taxes etc have been done through my employer Full time job...do I need to complete all this info also even if my employer did?

 

[Graham_07]

When filing Form 11 all income & claims for the year, even those already handled on PAYE should be entered. If the PAYE is correct then that will balance out and only tax/PRSI due on the self-employment will end up at the end. However if PAYE has over or underpaid, then that wil be taken into account also. Remember, your employer does not balance your tax or set your tax credits. The employer only operates the instruction given to them by Revenue based on what Revenue know from you. So if you are entitled to something you did not claim, or got a credit to which you were not entitled then that will all flush out on the F11.