How do I pay tax on a nixer I did?

C

colin79ie

Registered User
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Hi,

I have looked through and can't seem to find any relevant posts on this one.

I am a PAYE worker and earn 65k. Recently I done a nixer and got paid around 1600 for it.

I am wondering can anyone help me to sort out the tax I need to pay on this and how I go about it.

Would I be right in thinking I will be paying the top rate of tax on the whole amount?

What forms are needed to be sent in and when do I have to send them?

Many thanks in advance for any info.
 
I think its a form 12 and you post it in at the end of the year, not after each nixer....
 
You can also claim for valid expenses and that will reduce your tax bill for the 1600. If you earned the 1600 in 2010 then you don't need to submit your returns (form 12?) until October 2011, or at least that was the case when you are registered as self employed.
 
Hi colin79ie
Another option would be to get the money received from your nixer (after allowing for expenses incurred in earning the money) coded into your tax credits for the year with Revenue. This can be done by contacting your local Revenue PAYE district. This way the tax due can be collected via the PAYE system and you will not be considered a "chargeable person" by Revenue.

If your net income (gross less expenses) from non-PAYE income is equal to or greater than €3,174 in a tax year, you will be considered a "chargeable person" by Revenue and would need to prepare and submit a Form 11 (as opposed to a Form 12) and pay self-employed PRSI.
 
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