earned about 6k since 2006 on top of my income. How to deal with any tax liability?

M

mick112

Guest
I have earned about 6k since 2006 on top of my income.

I only lately found out that it is taxable and that i should have been declaring it, its a royalty from a publication.

What forms am i meant to fill in and would anyone know how revenue deal with situations like this were people owe tax from years ago?

Would I be fined for this or have to pay a lot of interest and would they audit me?

Am thinking maybe I should say nothing but i would prefer not to have this hanging over me.
 
Can't tell whether it's 6k per annum or 6k in total!

If 6k in total:
If you have less than €3174 of non-PAYE income p.a. then Form 12 should be sufficient.

Revenue generally don't apply interest to money owed by PAYE taxpayers, so just bite the bullet and fill out form 12 for years 2006-10 and pay whats due.

If 6k per annum:
This would suggest you should be filing a Form11 / Form 11E, and are a self-assessed person, so you could be hit with a surcharge, and interest on the tax due. If it's 6k p.a., then this could be a fairly big bill, and you should consider professional advice as to how best to proceed.
 
Its 6k in total since 06. Thanks for the advice. I am going to do what you advised. Surely there would be some penalty however for late payment and I am worried about that.
 
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