How do I reflect income on my tax return from an additional job which I don't have an IRP5 for?
By Marc Sevitz · Updated
I have an IRP5 for my full time job but I did a few hours of consulting (around 30 hours in total) at weekends which I personally invoiced for. How do I reflect this on my tax return? I have paid no tax on the additional hours so far.
In the opening questions in your Tax Return, you need to answer "yes" to the question:
Did you receive local business, trade or professional income".
In the relevant section of your Tax Return, you then need to include this income and you can also deduct any business related expenses incurred in order to reduce the tax liability on this additional consulting income (eg. pro-rata cell phone bills, mileage, etc)
Did you receive local business, trade or professional income".
In the relevant section of your Tax Return, you then need to include this income and you can also deduct any business related expenses incurred in order to reduce the tax liability on this additional consulting income (eg. pro-rata cell phone bills, mileage, etc)
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