Form 12 and returning additional tax due

whadafook · 22-09-2013 10:13am #1

Hi

I'm a PAYE worker completing a form 12 as a first time landlord

I've a small tax liability for 2012 on my rental income - do I simply include payment with my return or do I wait for Revenue to issue a demand for payment?

aine1980 · 04-10-2013 7:07pm

Hi, complete the form & send to Revenue, they will calculate whether there is any liability and will advise you of same.

Hope this helps,

angeldelight · 05-10-2013 9:55pm

I would pay sooner rather than later to avoid interest

srsly78 · 06-10-2013 9:27am

Just file the return, you have loads of time to pay.

Sheep Shagger · 06-10-2013 9:29pm

Quick question as am also filing a form12.

When i'm including amounts (for allowable interest and medical expenses) do I state the full amount or calculate the amounts using the relevant percentage (so for allowable interest 75% of the amount i've actually paid) ?

Tried looking on Revenue website but can't see it anywhere.

Thanks.

I carried a watermelon · 07-10-2013 9:48am

Sheep Shagger wrote: »

Quick question as am also filing a form12.

When i'm including amounts (for allowable interest and medical expenses) do I state the full amount or calculate the amounts using the relevant percentage (so for allowable interest 75% of the amount i've actually paid) ?

Tried looking on Revenue website but can't see it anywhere.

Thanks.

Medical expenses you put in the full amount of health expenses claimed. Make sure you have a completed med 1 form as well as your form 12.

For the interest you put in the allowable amount .I.e interest paid *75%.

Form 12 and returning additional tax due

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