Self employed/PAYE Tax Return

[Bilbo]

Hi everybody, this is my first post, thanks for reading!
I have been registered with revenue as self employed since last year and have worked continuously since last January until now on a freelance basis. The work has now run out and I'm starting a new job next week as a PAYE employee. My preliminary tax is due and I've been trying to predict it as near as possible. As I have to declare any PAYE income on Form 11 next year, I'm wondering if I'm entitled to claim the PAYE tax credit on that form. The reason I ask is that the combined total of my freelance and PAYE income would incur a higher tax cost for me even allowing for deducting PAYE paid at the final stage, as far as I could see I would be paying PRSI and the income levy twice.
Alternatively, if I just deregister as self-employed, does that mean that when I come to make my tax return next year, that I only include income to the current date rather than for the whole year?
Any advice would be very much appreciated, if you think this is a matter for an accountant, don't hesitate to tell me!

 

[Domo]

If you are self-employed for any period I would suggest you get advice.

However, if you were trading in 2008, you have to file your 2008 tax return by 31 October 2009, and pay any tax liability for 2008 together with preliminary tax for 2009.

In due course you will need to file a Form 11 for 2009 to include your self-enployed income and PAYE income. If you are in receipt of PAYE income you will be entitled to PAYE tax credit (or portion of this).