Form 12 for additional income

D

ddmani

Registered User
Messages
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I have extra income outside my PAYE job that I want to declare. Trying to complete Form 12 online.
Is 'Emp/Off/Pen not subject to PAYE deductions' the correct section to put it?
Do I put the amount minus expenses here or is there somewhere else to add my expenses?
I couldn't seem to find this part when trying to complete.
 
It might be easier for your to use a paper copy Form 12. This detail can be included in Box 13 (F12 2017) or Box 15 (in which you would only include the net income). Just watch the limits (€5,000 of taxable income) that puts you into self assessment. If you are in self assessment you'll need to do it electronically and it gets more complicated (but not overtly).
 
ddmani said:
I have extra income outside my PAYE job that I want to declare. Trying to complete Form 12 online.
Is 'Emp/Off/Pen not subject to PAYE deductions' the correct section to put it?
Click to expand...

How can we answer this as you haven't even told us the nature of this income?
 
Sorry, I have started to get paid for some singing gigs and I sign for this in bar at end of each night so I want to have this declared as extra income.
Is the €5,000 limit after expenses have been taken out?
 
Am I right in thinking that it's the 'Trading Profit' section I should use?
I can include 'Gross Income' and also 'Adjusted/ Assessable net profit' (<€5,000) here.
I can also include some information on Capital Allowances. Just want to be sure I use the right section to declare income
 
Hello

Yes you could do that .. but if I were I would just do up on a page a little calculation of your gross to net income and slot in your net income in the panel in “other income”..

The reason being that if you put in in the trade panel, revenue will almost certainly move you to self assessment and you will have to pay preliminary tax.

Best to try and avoid that.. file a form 12 if net income is less than 5k in the other income panel
 
Thanks

So the section that I thought first is probably the one to use in Other Income:
'Employments/Offices/Pensions not subject to PAYE deductions
Income arising from an employment, office, pension or directorship that was not subjected to PAYE.'

I just enter my profit here? (~€2000)
Do revenue then calculate the tax due, or do I need to calculate that too and pay them staright away?
 
Completing tax returns isn't supposed to be a guessing game, maybe this box maybe that one. The Tax Returns game show, hosted by Marty Whelan ? Spin the wheel and whatever box comes up, thats the one.

The right thing to do is pay an accountant. Of course if your profit is less than €5k that will probably cost more than 10% of your profit. But hey you have increased your chances of getting the right box, maybe.
 
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