Simple Form 12 and Med 1 question?

jack_pearse

Hi
I have completed my Form 12 to declare rental income for 2011 and also I am sending a Med1 form into the revenue as I paid concultancy fees in 2011.
I have 3 basic questions and I am ready to send in the return:

- On the Med1 form there is a box for 'Income from other sources not subject to PAYE'. I presume I include rental income here. Should the figure that goes in here be the total amount of rent recieved before expenses and capital allowances?
- It says to 'list details of this income on a separate sheet.' Is it sufficient that I am submitting Form 12 with all this detail on it at the same time?
- On Form 12 Section 63 Health Expenses it asks 'State the amount of Health Expenses claimed for the year 2011' Should this figure be the Amount on which Tax relief is being claimed from the Med1 form?

Thanks for the help, I would be lost without this forum!

relax carry on

jack_pearse wrote: »

Hi
I have completed my Form 12 to declare rental income for 2011 and also I am sending a Med1 form into the revenue as I paid concultancy fees in 2011.
I have 3 basic questions and I am ready to send in the return:

- On the Med1 form there is a box for 'Income from other sources not subject to PAYE'. I presume I include rental income here. Should the figure that goes in here be the total amount of rent recieved before expenses and capital allowances?
- It says to 'list details of this income on a separate sheet.' Is it sufficient that I am submitting Form 12 with all this detail on it at the same time?
- On Form 12 Section 63 Health Expenses it asks 'State the amount of Health Expenses claimed for the year 2011' Should this figure be the Amount on which Tax relief is being claimed from the Med1 form?

Thanks for the help, I would be lost without this forum!

The form 12 itself will take care of q's 1 and 2. The figure for health expenses on the Med1 should match the figure on the form 12, i.e. the figure you are claiming relief on.

jack_pearse

Excellant, thanks so much. Thought that was the case.
Do I need to submit a copy of my P60 also? Heard this may need to be done when submitting a MED1 form

relax carry on

jack_pearse wrote: »

Excellant, thanks so much. Thought that was the case.
Do I need to submit a copy of my P60 also? Heard this may need to be done when submitting a MED1 form

No harm to submit but should not be necessary at this stage as Revenue should have your pay and tax on file from last year by now.

jack_pearse

Great, thanks again

jack_pearse

Sorry one more quick question...
- When putting in the rental income on the Med1 form for 'Income from other sources not subject to PAYE'. I know all the detail will be in Form 12 but should the figure that goes in here be the total amount of rent recieved before expenses and capital allowances?

allthedoyles

jack_pearse wrote: »

Sorry one more quick question...
- When putting in the rental income on the Med1 form for 'Income from other sources not subject to PAYE'. I know all the detail will be in Form 12 but should the figure that goes in here be the total amount of rent recieved before expenses and capital allowances?

Are you sure about this ?

jack_pearse

What I did was enter the total rental income for the yesr before any allowable deductions as the figure and put a note 'See enclosed Form 12'.
Do you think this would be the right figure to enter or the figure after allowable deductions?

allthedoyles

Rental income is normally entered on form 12 .

I think they meant income related to medical , like illness benefit , pension etc .

Just keep an eye on the result in case they take the rental income into account twice .

But you did say ' see form 12 enclosed ' so this should suffice

jack_pearse

Thanks, haven't sent it in yet so do you think it would be better to leave it blank?

allthedoyles

Well I fail to see the relationship between medical and rental income , so I would not enter rental income on a med1 form .

Once is enough to enter your rental income ( to save confusion )

There are more qualified posters here , so lets see what they say ..............

ps. its best not to leave any box blank .........either enter 0.00 or n/a

barneystinson

Those boxes on the Med1 for income are only relevant if you're not actually filing a Form 12. The simplest thing to do is state "see Form 12 enclosed" in each of those boxes - there can be no confusion or double counting then.

And make sure that the panel on the Form 12 where you state the amount of medical expenses claimed should be the same as the bottom line Med1 figure.

NewApproach

As you are doing a Form 12 there is no need to fill in the income sections of the Med1

barneystinson

NewApproach wrote: »

As you are doing a Form 12 there is no need to fill in the income sections of the Med1

As I already said...