PAYE Worker - Tax on Nixers

J

JohnJoe

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I am a full time PAYE worker and I also do nixers at the weekend for cash. I need to complete a tax return before 31st Oct but what form do I need to complete? I would have certain outgoings and overheads relating to these extra jobs I take on (in the construction industry); what would I be entitled to includes as overheads?
 
I wonder if anyone can help me; I earned about 10K doing 'extra' jobs in 2004 and I desperately need to complete my tax returns before the weekend; any ideas on the correct form that I need to complete?
 
If you're PAYE, a standard [broken link removed] should be sufficient, I'd have thought? (p.5, "Income from sources not shown elsewhere")
 
You really need to call Revenue to clarify how they would treat you, but it is likely they will consider you as carrying out a trade and will require you to be dealt with under the self-assessment basis. In general, they only allow PAYE Form 12 returns if the extra income is below about €3k and is from unearned income (ie rent, dividends etc). When the income is earned through self-employment they require the Form 11 to be submitted which includes a section called "Extract From Accounts" which shows you gross earnings and variuos deductions which is not on the Form 12. Check out their website www.revenue.ie for more info.

Regarding what overheads you can claim, the following is taken from their website:

What expenses can I claim for?
You can claim for any business expenses which you have incurred in order to earn your profits. These expenses are normally referred to as revenue expenditure.

Revenue expenditure is your day to day running costs and covers such items as:

  • Purchase of goods for resale
  • Wages, rent, rates, repairs, lighting and heating etc.
  • Running costs of vehicles or machinery used in the business
  • Accountancy fees
  • Interest paid on any monies borrowed to finance business expenses/items
  • Lease payments on vehicles or machinery used in the business
If you are registered for VAT the expenses you claim should be exclusive of VAT.

What expenses can’t I claim for?

The general rule is that you cannot claim for any private expenses i.e.
  • Any expense, not wholly and exclusively paid for the purposes of the trade or profession
  • Any private or domestic expenditure e.g. your own wages, food, clothing (except protective clothing), income tax etc.
  • Business entertainment expenditure i.e. the provision of accommodation, food, drink or any other form of hospitality.
You cannot deduct capital expenditure in calculating your taxable profits, however you can claim what are known as capital allowances on certain expenditure.

What about expenses which are partly for business and partly private?

Where expenditure relates to both business and private use, only that part which relates to your business will be allowed. Examples of such expenditure are rent, electricity, telephone charges etc., where the premises involved is used partly for business and partly for private purposes. These expenses will need to be apportioned to exclude the private use.
 
JohnJoe said:
I wonder if anyone can help me; I earned about 10K doing 'extra' jobs in 2004 and I desperately need to complete my tax returns before the weekend; any ideas on the correct form that I need to complete?
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You should go to an accountant as you're guaranteed to do it wrong. No offence.

Accountant/tax advisor will have it done in about 30 minutes for you.


Worry over.
 
JohnJoe said:
I wonder if anyone can help me; I earned about 10K doing 'extra' jobs in 2004 and I desperately need to complete my tax returns before the weekend; any ideas on the correct form that I need to complete?
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If you use the Revenue online service and pay and file you have until 17th of November to get your act together - strongly recommend you talk to an accountant though.
 
ClubMan said:
Don't you have to be registered before today though?
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I'm not sure that by necessity you have to have registered by today - I read on one of the weekend papers that it was recommended that one registered before the 1/11 in case any difficulties arose. I had a quick scan on the revenue site and I don't see any deadlines for registration but I strongly recommend to the op that he check this out for himself .
 
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