Earning Money Outside of Work

[Featherhead]

I work full time but have the opportunity to make some money in my spare time through a hobby. I would supply something for sale though a group of people, people can buy online, if they do order any of my items the company takes care of the shipping and order handling and then pays me my cut. The company are registered for vat

My question is what taxes or vat am I obliged to pay on this money recieved? Now we are not talking a lot of money I'd say a couple of hundred euro a year depending on what I sell. I just don't want to get stung later on if I should be declaring or paying something. Do I need to let my employer know about this or can I just report these earnings to revenue seperately.

 

[Domo]

It sounds like you are probably a supplier for the company and being paid as self employed. If so you will need to declare this income on your tax return, and register for self assessment. You will need to prepare accounts to declare the gross income less expenses incurred. Do you have any expenses?

If you are a director of the company, then the income will have to be taxed under PAYE.

However, fuller details would be required to confirm the position.

 

[mathepac]

If you earn less than €3,174 per annum from your "hobby", you have no need to register for self-assessment, VAT or other nasty things. Use Form12 for tax returns but submit your non-PAYE earnings in the appropriate box (Paragraph 8 - Employments/Offices/Pensions not subject to PAYE deductions ?)

Unless there is some contractual conflict with your full-time job and your "hobby" there is no need to inform your employer.