Form 12 for 2014

JohnnieA

Hi,

Does anyone know when will form 12 for the year 2014 be avilable? Revenue website still has the old one for 2013 only.

Thanks.

CIARAN_BOYLE

JohnnieA wrote: »

Hi,

Does anyone know when will form 12 for the year 2014 be avilable? Revenue website still has the old one for 2013 only.

Thanks.

Last year a client of ours wanted to do a form 12 in January. We got a word version form 12 for 2012 and used find and replace

JohnnieA

CIARAN_BOYLE wrote: »

Last year a client of ours wanted to do a form 12 in January. We got a word version form 12 for 2012 and used find and replace

Thanks. I'd do that except these forms can change a little year on year. If it's just a matter of a week or 2, I'd rather wait for the proper one.

It's nor really urgent, I just want to be done with it.

2ndcoming

If you're registered for PAYE Anytime you can do the eForm 12 for 2014 now.

The paper version won't be available until March or April at the earliest. Revenue try to stagger the correspondence they have to deal with as returns take longer to process and they receive tens of thousands of phone calls and straightforward review requests in January and Feb.

If you aren't sent a Form 12 you more than likely don't have to do one at all (unless you've some other form of income you need to declare). If you are sent one every year and have to do one the online route is the way to go.

JohnnieA

I have to do it, because I've got some other income to declare.

How do I do it through Paye Anytime? When I click on 2014 I get the message "Unfortunately you cannot edit this year as you have an active Income Tax Registration in addition to PAYE."

relax carry on

JohnnieA wrote: »

I have to do it, because I've got some other income to declare.

How do I do it through Paye Anytime? When I click on 2014 I get the message "Unfortunately you cannot edit this year as you have an active Income Tax Registration in addition to PAYE."

An active income tax registration means you must complete a form 11 income tax return not a form 12. You can register for the ROS system and file electronically.

http://www.revenue.ie/en/online/ros/index.html

JohnnieA

relax carry on wrote: »

An active income tax registration means you must complete a form 11 income tax return not a form 12. You can register for the ROS system and file electronically.

Yes but my income outside PAYE was just few hundred euros from share options. I thought you have to cross the 3150Euro barrier before you have to fill form 11.

Would it be faster if I just pay the tax office a visit?

barneystinson

JohnnieA wrote: »

Yes but my income outside PAYE was just few hundred euros from share options. I thought you have to cross the 3150Euro barrier before you have to fill form 11.

Would it be faster if I just pay the tax office a visit?

If the income is on exercise of share options then you are a chargeable person I.e. obliged to file a Form 11 and self assess.

JohnnieA

barneystinson wrote: »

If the income is on exercise of share options then you are a chargeable person I.e. obliged to file a Form 11 and self assess.

Yes I know about this, but form 12 says:

3. An individual with a PAYE source of income and with net assessable non-PAYE income (including income subject to DIRT) of €3,174 or more is regarded as a ‘chargeable person’ for Self-Assessment and must file a Form 11 for that year.

4. An individual with a PAYE source of income and net assessable non-PAYE income (due to losses, capital allowances and other reliefs) is less than €3,174 and the income is coded against PAYE tax credits or fully taxed at source, is not regarded as a ‘chargeable person’.

My income from share options is far less than €3,174.

Also, leaflet IT72 from revenue website says:

9.2 How do I notify the tax office of the number of share options exercised, exercise price,
etc.?
A panel is included on the tax return form (Form 12 for PAYE customers or Form 11 for Self-
Assessment customers) requesting information in relation to share options.

barneystinson

JohnnieA wrote: »

Yes I know about this, but form 12 says:



My income from share options is far less than €3,174.

Also, leaflet IT72 from revenue website says:

The legislation, section 128 Taxes Consolidation Act 1997, imposes chargeable person status on the person exercising share options.

You need to file an RTSO1 form within a month of exercising the option, and pay the appropriate tax, and then you need to file a form 11 tax return before 31 October of the subsequent year.

JohnnieA

barneystinson wrote: »

You need to file an RTSO1 form within a month of exercising the option, and pay the appropriate tax, and then you need to file a form 11 tax return before 31 October of the subsequent year.

OK thanks.

I did file RTSO1, so I guess I'll just file a form 11 instead of 12 this year.

Timothy Bryce

Quick one - registered for income tax on a buy-to-let property and need to submit tax return for the rental income.

Form 11 or Form 12?

Cheers,
TB.

relax carry on

Timothy Bryce wrote: »

Quick one - registered for income tax on a buy-to-let property and need to submit tax return for the rental income.

Form 11 or Form 12?

Cheers,
TB.

If you have an active Income Tax registration then you file a form 11. Use the ROS system.

Timothy Bryce

relax carry on wrote: »

If you have an active Income Tax registration then you file a form 11. Use the ROS system.

Been filing one for the last 3 years - keep forgetting which one to use!

Thank you!

useless

Thought it'd make more sense to piggyback on this thread instead of opening a new one- mods feel free to move if appropriate.

I've filled in the eForm 12 for 2014 at the weekend, which included claiming relief for medical expenses and a Section 481 Film Finance scheme. Do I need to send in a MED1 and the FILM3 certificate (both paper documents) to the tax office in parallel, or do I just retain them in case I'm audited?
I did send an email to Revenue but their autoreply says it may take over 30 working days to reply.

2ndcoming

Always find in general it's better to just send copies of any relevant documentation like that instead of wondering about it. Might as well pop them in the post, that way if they do go looking for them they'll have them there and then and won't need to contact you.

JohnnieA

So I submitted the Form11 for 2014 and today got the following reply:

"
Re: Review for 2014
Tax Reference: PPS [...]

Dear Mr. [...]

In reference to your recent correspondence regarding the above please note you are registered for income tax from 2014 therefore a return of income should be submitted so the above review can be carried out."

The next paragraph just tells me I can do it through ROS.

Could someone explain what this means? I thought Form 11 is the return of income.

Last Saturday a lady from revenue called asking why my Form 11 didn't include any income. Twice. I explained, twice, that I was on PAYE all the time, and the only reason I filled form 11 was because I exercised some share options, which I did include in the form.

Could anyone tell me whether I'm missing something here? I'll call revenue on Monday, but in the meantime I'd be grateful if someone could explain what is going on.

Thanks.

CIARAN_BOYLE

JohnnieA wrote: »

So I submitted the Form11 for 2014 and today got the following reply:

"
Re: Review for 2014
Tax Reference: PPS [...]

Dear Mr. [...]

In reference to your recent correspondence regarding the above please note you are registered for income tax from 2014 therefore a return of income should be submitted so the above review can be carried out."

The next paragraph just tells me I can do it through ROS.

Could someone explain what this means? I thought Form 11 is the return of income.

Last Saturday a lady from revenue called asking why my Form 11 didn't include any income. Twice. I explained, twice, that I was on PAYE all the time, and the only reason I filled form 11 was because I exercised some share options, which I did include in the form.

Could anyone tell me whether I'm missing something here? I'll call revenue on Monday, but in the meantime I'd be grateful if someone could explain what is going on.

Thanks.

If you file a form 11 you should include all income including paye income on the form.

JohnnieA

CIARAN_BOYLE wrote: »

If you file a form 11 you should include all income including paye income on the form.

I did all that. All PAYE was included + the shares options I excersied.

The lady from Revenue seemed under the impression that I was self employed too for some reason, but I explained that wasn't the case.

JohnnieA

OK, turns out that letter was a reply to an older correspondence. They still haven't processed my Form 11.