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Form 12 Query

  • 14-10-2013 10:47am
    #1
    curioussligo
    Registered Users, Registered Users 2 Posts: 16 ✭


    Quick Query:

    Uncle a farmer with Garda pension....farm losing money. Can he offset a farm loss and capital allowances to his pension income, or just one or the other?

    Also, does he need to submit his accounts with his form 12 return? the return doesn't specify.

    Thanks in advance...


Comments

  • #2
    Bold Abdu
    Registered Users, Registered Users 2 Posts: 213 ✭✭Bold Abdu


    He can offset both. Just tick the right boxes.

    No need to submit but obviously they may request later so have them completed and available.


  • #3
    Citizenpain
    Registered Users, Registered Users 2 Posts: 2,004 ✭✭✭Citizenpain


    + I think farming losses can oly be used for three years - someone else might confirm


  • #4
    curioussligo
    Registered Users, Registered Users 2 Posts: 16 ✭curioussligo


    Bold Abdu wrote: »
    He can offset both. Just tick the right boxes.

    No need to submit but obviously they may request later so have them completed and available.

    Thanks Bold Abu! And thanks CitizenPain. I knew about the three year rule, but important to be reminded

    Didn't see a tick box on the form, just a box to be completed but assume thats what you meant!


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