Teacher/Musician

[masterduke]

Could any one tell me if payments recieved as royalty payments on traditional irish music are liable to tax, and does this include revenue generated from live performance- i.e. does one pay tax on money generated at gig's.

 

[bradfield]

All income technically is subject to taxation however there is a scheme called the Artists Exemption Scheme which allows for some income generated by artists to be exempt. You need to have a look on the Revenue website and the details of the scheme are outlined there, you will need to register and as far as I know you will need to make returns etc. If you are getting royalty payments then you are probably a member of IMRO they should be able to help you with this.

D

Could any one tell me if payments recieved as royalty payments on traditional irish music are liable to tax, and does this include revenue generated from live performance- i.e. does one pay tax on money generated at gig's.