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Form 1 (firms) Partnership Tax Return - minimum turnover?

  • 06-06-2016 2:40pm
    #1
    RiderOnTheStorm
    Registered Users, Registered Users 2 Posts: 2,180 ✭✭✭


    did quick search, and didnt see anything related, so please forgive if this has been asked and answered before.

    Myself & my wife have a (very) small business, teaching first aid. We were asked by Revenue to fill out a Form 11 (firms). So, my question is, is there a minimum turnover required before this form is required/declared? We earn less than e3000 per year on this (I am full time PAYE and we just teach as a sort of hobby & to keep up to date). I did fill out the form and send it off, and now we have gotten more forms to fill out. Just wondering if its all worth the effort...theirs and mine...for such small amounts.

    Any and all help will be greatly appreciated.

    ROTS


Comments

  • #2
    Lockedout2
    Registered Users, Registered Users 2 Posts: 402 ✭✭Lockedout2


    A partnership return is required for all partnerships. There is no limit.

    You will also have to file a Form 11 as you are a chargeable person.


  • #3
    CIARAN_BOYLE
    Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    Lockedout2 wrote: »
    A partnership return is required for all partnerships. There is no limit.

    You will also have to file a Form 11 as you are a chargeable person.

    Income would seem to be below turnover threshold, it could be dealth with in a form 12. or are partnership members automatically chargeable


  • #4
    RiderOnTheStorm
    Registered Users, Registered Users 2 Posts: 2,180 ✭✭✭RiderOnTheStorm


    Thx guys. Just google'd Form 12 and it says "dont fill in form 12 unless requested" .

    I will fill in the forms they requested (form 11 & 11P). If anyone has a blinding flash of inspiration, pls post here!

    Thx again :-)


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