Working full time and part-time business

W

what_todo

Registered User
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Hoping someone can clarify this for me because I've been round and round in circles on ROS all morning.

I work full time and am registered for payeanytime.

I also set up a part time training business at the start of 2012. I need to register to file tax for 2012. I have registered the business name and am operating as a sole trader but I am not registered for VAT nor do I have a tax ID.

So should I be registering on ROS (and if so how do I get past the RAN stage without an ID?) or should I be going in via payeanytime and adding in additional income for 2012 under "schedule e non paye income"?

I'm totally confused!
 
First thing's first - you can't record the additional income through PAYEanytime (self employed income is not Schedule E).

Next issue is what IS the correct way for you to return the income.

If you intend to make more than €3,174 of taxable income from your part-time business then you should register for Income tax self assessment using a form TR1. You will then be able to register for ROS (as it will then recognise your tax ref as an ID), and pay & file online.

If you are on a very small scale and not likely to exceed 3,174 of taxable income then you do not need to register for income tax, but you'll have to submit a paper Form 12 tax return after the year end, as PAYEanytime isn't set up to cater for that type of income.
 
Thanks Mandelbrot.

Taxable income is def less than 3k for 2012. Possibly more this year but def not as much last year.

Thanks for the advice, will download that paper form 12 now.
 
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