DIRT Tax Question

troops

Hi,

I submitted my form 12 as I have some rental income.

I also put in the interest I earned from a deposit account. Now the P21 shows a deduction of 25% from the interest I earned, which would have been net of DIRT. Effectively I'm paying DIRT twice :eek:

I take it this is incorrect? Is interest earned (after DIRT is deducted) from savings liable for more tax or considered income?

Maybe I shouldn't even have put it in the form 12 as I'd already paid DIRT on it or maybe I filled in the wrong box?

Thanks for any help.

Alan Shore

You should have included the total interest received (ie before DIRT) but if you put it in the right box then you should see the DIRT withheld in the tax paid section.

troops

Alan Shore wrote: »

You should have included the total interest received (ie before DIRT) but if you put it in the right box then you should see the DIRT withheld in the tax paid section.

actually do you even need to include this on form 12 as DIRT is already taken at source? Is it not more for those who can reclaim dirt tax

JCYSHOW

troops wrote: »

actually do you even need to include this on form 12 as DIRT is already taken at source? Is it not more for those who can reclaim dirt tax

You need to include on return. Put in gross amount and the form (if using the computer version) will automatically give you a credit for DIRT paid.