Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Rental return (loss) online with PAYE anytime from 07-09?

  • 20-12-2010 10:09am
    #1
    jugovic
    Registered Users, Registered Users 2 Posts: 27 ✭


    Hi all,

    I am a PAYE employee. Can you put your rental return online with PAYE anytime, or in my case, a rental loss? I've looked at the Schedule E non PAYE Income tab but you can't include negative numbers in there. I have losses for 07-09.

    Or do I need to submit a Form12?

    Thanks in advance.


Comments

  • #2
    Boom Boom
    Registered Users, Registered Users 2 Posts: 240 ✭✭Boom Boom


    Hi Jugovic

    I'm not familiar with the PAYE Anytime system but as far as i know it is for only PAYE earnings.

    Rental profits/losses are taxed under Schedule D - Case V and not Sch E


    Assuming your only income is from;
    • Employment (of which you are not a propriety director of the company you work for)
    • rental income

    Then you should use the Form 12

    hope this helps
    Boom boom


  • #3
    jugovic
    Registered Users, Registered Users 2 Posts: 27 ✭jugovic


    thanks boom boom,

    I thought so, there didn't seem to be anywhere on the PAYE online to do this return, so form12 it is. My major income is from rental and employment although I do have stock option dividends, which I presume I can also put on Form 12 (looking at section 28)?

    I have two more question -

    1. Do I have to sumbit individual From12 returns for 07-09 to input these rental losses or can I use the 'loss forward from prior year' in the 09 return only? I do have the losses worked out for each year but really don't want to submit three forms.

    2. Do I need to include the details (Health insurance relief, refuse relief etc.) on the paper form that is already online?

    Thanks again.


  • #4
    smcgiff
    Closed Accounts Posts: 5,943 ✭✭✭smcgiff


    jugovic wrote: »
    1. Do I have to sumbit individual From12 returns for 07-09 to input these rental losses or can I use the 'loss forward from prior year' in the 09 return only? I do have the losses worked out for each year but really don't want to submit three forms.


    You'll need to make returns for the years in which the loss incurred - otherwise you will not be able to bring them forward (did you have other taxable income during the loss periods?)
    jugovic wrote: »
    2. Do I need to include the details (Health insurance relief, refuse relief etc.) on the paper form that is already online?

    Only if you wish to receive tax relief for them :D When you submit your form 12 your tax will be calculated from scratch.


Advertisement