First you must satisfy the basic condition, i.e. you have to be employed full-time, a pensioner or a full-time student/apprentice. You also have to satisfy some other conditions, that is you:

• have to be registered for VAT (if you are obliged to register for VAT);
• may not engage any employees in your part-time activity;
• must keep proper books of accounts;
• must pay the tax due using form TA22 by 15th February of the following year.

Fill in form TA22. This form is divided into three sections.

Part A refers to the profit made from January to April and has to be sent to the Department by 30th May. Calculate the profit, fill in the form and pay the 15%.

Due to the fact that this section is filled in after only four months, it is understandable that your calculations would be only approximate. Any necessary adjustments can be made in the other sections that are filled in later on during the year.

Part B refers to the profit made from May to August and has to be sent by 30th September. Once again you must calculate the profit, fill in the form and pay the 15%.

Part C refers to the profit made from January to December and has to be filed by 15th February of the following year. Due to the fact that this section is filled in after the year-end, your calculations should be accurate and any approximations made in the two previous sections can be rectified in this third part.

Make sure that the tax you pay covers 15% of the net profit earned throughout the year from your part-time self-employment. The maximum payment each year is €1,050 (15% of €7,000).