No, it's not messy. My understanding is your wife can't claim relief for medical expenses, additional AVCs, etc until you file your tax return.My wife will have no involvement in farming but is the fact we are jointly assessed going to make this messy?
By completing a Form 12? But that's not applicable to you. You're now a chargeable person, so you have to complete a Form 11.I was just pulling together medical receipts and was planning to claim our medial expenses for 2020 in the next few weeks under the normal paye way.
Yes, you should register as self employed with Revenue.Just to add I’ve done nothing to register or alert revenue that I have self employed income in 2020, am I supposed to?
By completing a Form 12? But that's not applicable to you. You're now a chargeable person, so you have to complete a Form 11.
If you used 'the normal PAYE way' you'd be making a false declaration if you didn't include all of your income.
Yes, you should register as self employed with Revenue.
I'd strongly advise getting a competent accountant to help you.
Not my area, so I'm open to correction. Farming falls under carrying on a trade. I thought you had to register as self employed.I didn’t think there was any need to inform revenue
Not my area, so I'm open to correction. Farming falls under carrying on a trade. I thought you had to register as self employed.
It'd be no harm to ask the accountant that you're planning to engage, and also get on their schedule. There's no point showing up with a box of receipts in September and expecting them to be able to get your returns done on time.
You put the whole lot on your tax return.Thanks for the advice I will start to talk with my account sooner rather than later to find out what the best approach is.
Just one other question related to your first response. How are medical expenses etc handled by my wife in this new scenario? Would she still do her expenses through myaccount as before or would I need to submit her expenses along with all my own to the accountant since we are jointly assessed?