Q on PAYE Income and NON Paye income taxes

H

hilltohill

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Hi. I am a PAYE worker. I was made redundant in Feb 2018 by my employer but I continued to do contract work (not as an employee) for a few months with a division of the main company. They paid me an daily rate and it is up to me to declare the tax as i was not on their payroll as a PAYE employee during that time. I got a new PAYE job in August 2018 and stopped the contract work. I need to declare that income to revenue as I owe 10k plus in taxes on this income. My questions are:
1) Do I declare this income in 2018 (I know the online deadline for income tax is 14th Nov but is that for 2017 income)?
2) Because of the expected 10k+ that I owe in taxes, do I have to declare for self assesment with Form 11. I just want to pay the tax on the extra I earned and not impact my current PAYE status. It was a one off for a few months and I do not intend doing it again.
3) Is there any other more straight forward way around this?
Thanks.
 
You have to wait until 2019 to declare and pay tax on 2018 income.

If the taxable income exceeds 5k, then use Form 11.
 
Thank you for that reply. Would I have to pay preliminary tax on it? Or would what I am paying in the regular course of tax under the PAYE system be deemed enough to cover?
 
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