Need to fill TR1 form for rental income?

satnavadays

If someone has got rental income for the first time and has no other income, does a TR1 form need to filled to register for the rental income?

Thanks in advance.

Mr. Incognito

No you fill out a Form 12

PAYE Employee with other source income

http://www.revenue.ie/en/tax/it/forms/form12.pdf

satnavadays

Mr. Incognito wrote: »

No you fill out a Form 12

PAYE Employee with other source income

http://www.revenue.ie/en/tax/it/forms/form12.pdf

Is it the same form for non-PAYE employee?

Pandoras Twist

I think its form 11 if you've no PAYE income.

superhooper

Just got a letter from Revenue this morning asking me to register fill in A TR1 and register as self assessed for Income Tax as "you are in receipt of rental income". Previously I'd just submit a Form 12 as I'm a PAYE worker with a mount €4.5k in net rental income and get a balancing statement. Is this a change in procedure for Revenue?

relax carry on

superhooper wrote: »

Just got a letter from Revenue this morning asking me to register fill in A TR1 and register as self assessed for Income Tax as "you are in receipt of rental income". Previously I'd just submit a Form 12 as I'm a PAYE worker with a mount €4.5k in net rental income and get a balancing statement. Is this a change in procedure for Revenue?

You have breached the 3174 euro net threshold for using the form 12 to return rental income. You must now register as self assessed via the TR1 and file form 11s. This is not something new.

superhooper

Thanks for the info. Was unaware of the threshold.

JPW1979

Hi, what is the 3174 net threshold?

Citizenpain

Assessable non-PAYE income of €3,174 or more
An individual with assessable non-PAYE income of €3,174 or more for any year is regarded as a "chargeable person" for Self-Assessment and must file a Form 11 for that year.

awnow

Hi
I am trying to fill in Form 11e on Revenue's online Service (ROS) with respect to calculating and filing the tax liability for the income on a rented house.

Can anyone clarify if I just need to fill out the rental income section or whether I also need to include full employment income (PAYE, USC etc.) for both my spouse and I?

We are both PAYE employees and when I include details from our P60's the tax liability calculates as an excessive amount i.e. well over and above the profit I make on the rent! Also, I assume that while filling out this form we should be ticking the box that says "joint assessment" i.e. for my wife and I?

Any help appreciated.

premier10

yes you should

awnow

Thanks for quick reply. So our full PAYE, USC etc. also has to be filled in on the 11e form?

awnow

Thanks for quick reply. So our full PAYE, USC etc. also has to be filled in on the 11e form?

awnow

Thanks for quick reply. So our full PAYE, USC etc. also has to be filled in on the 11e form?

Citizenpain

awnow wrote: »

Thanks for quick reply. So our full PAYE, USC etc. also has to be filled in on the 11e form?

Yes , paye income , paye paid , USC all go in . Joint assesent is fine ...