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

Form 12 tax return - first timer

  • 28-09-2012 3:48pm
    #1
    Ciall
    Registered Users, Registered Users 2 Posts: 11 ✭


    Afternoon all,

    I am a PAYE worker making my first ever tax return and I would really appreciate any help that is on offer here.

    I am letting my apartment and have been since July 2011. I am currently making my tax return for 2011.

    Here are the questions I have
    1. I am making my tax return for 2011, but I only left the apartment for 6 months of the year. Will I include 75% of the Mortgage Interest I paid for 6 of the 12 months or the entire amount I paid in the year?
    2. I pay a one off management charge once a year. Will I include the entire amount in my deductions or 50% of it (6 of 12 months?)
    3. Wear and Tear. I bought the apartment in 2007 and we bought all the existing furnishings at the time separate to the apartment purchase contract. I left all these furnishings in the apartment when I left. Am I entitled to include 12.5% per year of the cost of this furniture as a deduction or am I only entitled to include furniture I bought since the letting?
    4. Will I attach receipts or a P&L for my deductions to the Form 12 or will I wait for the revenue to ask for these after they assess my return?
    5. I pay into my pension in work but my employers do contribute also. I am pretty sure they take off all sorts of deductions from this already. Do I have to include this and how much do I include (e.g. just what my employers contribute?).

    Thanking you in advance.


Advertisement