La La
i drink your milkshake
if i understand what you're asking, it'd be 20% of the combines income
although if you're setting aside 20% of each payment, it's be the same amount you'd set aside
i should also note that there is also a health contributiona nd prsi on top of this. this comes to 5% i think. so in fact, it should be 25%
yes you can get the single person allowance of €1,830 (if you're married it's double of €3,660 though this is shared between the spouses so in fact it's only still €1,830 if both are working) so in essense this means that the first €9,150 is exempt
there's other credits you can claim like refuse charges and rent credit and these would lower your tax burden also
there's also expenses that can be claimed. in accounts work, we would include a person's motor expenses as a cost. when it comes to the tax return, we usually do an add back of 33%. sometimes it's 50%.
is 2008 your first year as a self employed person? if it's your second i think you also will have to pay preliminary tax for 2008 along with tax for 2007
preliminary tax is 100% of the previous years income (so in thory you double up). i've seen revenue sent out demand notices for alot of money in interest for not paying a few thousand in preliminary tax (i can't go into details)
ok. that's alot to take in but it's stuff i needed to know, so I thank you very muchly. this year is indeed my first full year working since moving back, so thankfully I don't need to count last year. in fact as far as I know, the Daily Star owe me tax money for some work I did for them last year.
i'm definitely going to pursue the tax cxredits thing.
thanks IFF!