When do I need to file a Tax Return?

While most PAYE employees have their taxes deducted at source, there may be times when you need to file a self-assessed tax return.

You may need to file a tax return if:

• You're self-employed

• You're registered for income tax

• You have rental income

• You let out a room/entire home on Airbnb

• You earn money from the sharing economy-DoneDeal, housesitting, Hassle.com, etc

• You had foreign income including foreign pensions

• You earn money as a blogger for gifts with a value of over €5000

• You earn extra income outside of PAYE (investment income, maintenance payments, fees that are exempt from PAYE)

• You have profited from share options or share incentives

• You want to claim a tax refund

• You have profited from share options or share incentives

If you earn extra income outside PAYE, the type of forms you need to file will typically depend on the amount of income. So for example, if you earn non-PAYE income over €5000 then you’re obliged to register for income tax and you can proceed with a Form 11. File a form 11 you’ll need:

• Personal details: name, date of birth, PPS number (self and spouse if applicable)

• Details of your PAYE Income – this can be found on your Employment Detail Summary

• Social Welfare receipts – the total taxable social welfare amounts received during the year

• Trade/Profession/Vocation – including total income, sales, receipts and a breakdown of your total expenses. An accounts extract is required for each trade or profession you have.

• Details of losses and capital allowances (carried forward or current)

• Any rental income and related expenses

• Foreign Income, Income From Fees, Covenants, Distributions, etc

• Any Exempt Income, Annual Payments, Charges and Interest Paid

• Capital Gains - Capital Gains for the year 1 January 2021 - 31 December 2021

• Tax Credits – your personal tax credits can be found on your Tax Credit Certificate