Tax & Self-Employment
It is impossible to provide a detailed answer to this question as the issue is too subjective. However, Visual Artists lreland has commissioned Gaby Smyth and Co Accountants to prepare a guide on Tax, PRSI and Social Insurance benefits for self-employed artists.
This guide provides advice on how to keep books and records, prepare your accounts and how to file your returns. You can view the guide here.
Flannigan Edmonds Bannon, Chartered Accountants have prepared a very similar guide for artists in Northern Ireland. You can view it here.
The Office of the Revenue Commissioners website has more comprehensive information on self-employment generally.
Northern Ireland artists should check the HM Revenue and Customs website.
The Revenue website provides all the information you need to apply for the Artists’ Tax Exemption. Here you will find information on how the scheme works, eligibility, how to claim and the required claim forms. The site also provides a useful FAQ’s section relating to the Scheme. See: www.revenue.ie/en/tax/it/reliefs/artists-exemption.html
In addition, the Info~Pool section of this site hosts an article entitled ‘Tax and Self-Employment‘ written by Gaby Smyth and Co. Accountants. Here you will find information on Tax, PRSI and Social Insurance benefits and the Tax Exemption for self-employed artists.