Do you pay tax on single payment (agri)

[TableEnd]

Do you pay tax on single payment from department of agriculture if you also work part time?

 

[Joe_90]

Well,

The Single Farm Payment forms part of your farm trading profit or loss.

So you compute your farm profit or loss, taking all your farm income less farm expenses, and then add your other income to that to get your taxable income.

Then you see do you have any tax to pay.

 

[TableEnd]

thank you, I pay PAYE at sourse so which income do I add to my farm profit and loss, net or gross?

 

[WindUp]

in simple terms

for income tax -Excl USC PRSI

Add all income (incl Gross PAYE income)
Deduct allwable pension contribs
Calc Tax
Deduct Credits
Deduct PAYE tax paid
= tax due

 

[TableEnd]

OK Thanks!