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Form 12

  • 19-06-2012 2:15pm
    #1
    Zamboni
    Registered Users, Registered Users 2 Posts: 4,306 ✭✭✭


    This may be a stupid question but....

    Why would a Form 12 be sent to a PAYE employee who has no other income/shares?
    The Revenue have all the details through 12 P30s and the P35 :confused:

    Thanks


Comments

  • #2
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    Zamboni wrote: »
    This may be a stupid question but....

    Why would a Form 12 be sent to a PAYE employee who has no other income/shares?
    The Revenue have all the details through 12 P30s and the P35 :confused:

    Thanks

    Some are sent randomly to PAYE workers each year as part of a compliance check. This checking system confirms how accurate the system is as its a legal declaration of all sources of income signed by the taxpayer.

    Most form 12s are targeted at specific tax reliefs claimed or additional income declared.


  • #3
    Zamboni
    Registered Users, Registered Users 2 Posts: 4,306 ✭✭✭Zamboni


    relax carry on wrote: »
    Some are sent randomly to PAYE workers each year as part of a compliance check. This checking system confirms how accurate the system is as its a legal declaration of all sources of income signed by the taxpayer.

    Most form 12s are targeted at specific tax reliefs claimed or additional income declared.

    But it leaves the average Joe who may not be well read in taxation, reliefs, pensions etc. with an awkward choice...
    Incur the cost of an accountant to complete the form for them or complete it themselves and run the risk of making errors and false declarations.
    Harsh.


  • #4
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    Zamboni wrote: »
    relax carry on wrote: »
    Some are sent randomly to PAYE workers each year as part of a compliance check. This checking system confirms how accurate the system is as its a legal declaration of all sources of income signed by the taxpayer.

    Most form 12s are targeted at specific tax reliefs claimed or additional income declared.

    But it leaves the average Joe who may not be well read in taxation, reliefs, pensions etc. with an awkward choice...
    Incur the cost of an accountant to complete the form for them or complete it themselves and run the risk of making errors and false declarations.
    Harsh.

    That's the price you pay for having a system where the requirement for everyone to file a yearly tax return is waived. A certain percentage must be checked to ensure that overall the system is working.

    Granted the form is a bit of a pain to complete but a phone call, email or a call into a Revenue public office will assist the majority of filers, as they usually only need to complete about 4 simple sections.
    Those who need to complete more, may need the services of an accountant/tax advisor, but for good reason.
    Getting an accountant to file a standard form 12 ( pay, tax + additional relief) is a waste of money in my opinion, but its up to each individual to make that decision. The information is there on the Revenue website and if in doubt, contact Revenue, but keep in mind the revenue official you are dealing with cannot complete the form for you.


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