A Chargeable person for self assessment is a person who is chargeable to tax.
An individual with PAYE income and income from non PAYE sources may be a chargeable person.
If the total non-PAYE income assessable to tax is :
- less €5,000 (€3,174 for 2015 and prior years)
- taxed at source (eg DIRT)
The individual’s tax credits and standard rate cut off point will be adjusted. They will not be a chargeable person.
This does not apply to directors of trading companies and their jointly assessed spouses or civil partners,other than where the Company meets the following conditions during the three years ending on 5th April in the tax year for which the exception is to apply:
- Not entitled to any assets other than cash on hand not exceeding €130
- It did not trade or make investments
- No Charges were paid on income.
In addition, non proprietary directors who
- Are not otherwise chargeable persons
- All of their income is subject to tax under PAYE
are not required to file an annual return for any tax year they meet the conditions.
The Revenue also, take into account an individuals gross income from non PAYE sources
- An individual whose gross non-PAYE income from non PAYE sources exceeds €30,000(€50,000 for 2015 and prior years). They will need to complete an annual tax return.