Capital gains on shares

Torres999

Hi there
I am a regular PAYE worker, however I have an account with Davy Stockbrokers. I made a bit of a gain in 2015 but obviously I dont file a Form 11 or 12.
I now also collect rental income so I will have to start filing a Form 11/12 for 2017 in Nov 2018. Do I put the gain from 2015 on this?

Chuckles1407

You can put the gain from 2015 on the capital gains section of a Form 12/E-Form 12. Re rental income you will only have to register for income tax (self assessment) and file a form 11 if your net profit from the rental income is 5000 for the year otherwise you can return it on a form 12/via the rev app.

gerrybbadd

You might also be expected to complete a form CG1, as the section on the Form 12 is not comprehensive enough, and Revenue will want more detail than the form allows for

Torres999

Chuckles1407 wrote: »

You can put the gain from 2015 on the capital gains section of a Form 12/E-Form 12.  Re rental income you will only have to register for income tax (self assessment) and file a form 11 if your net profit from the rental income is 5000 for the year otherwise you can return it on a form 12/via the rev app.

Net profit after Mortgage Interest, Management fees etc? I assume not including mortgage?

MFS2

Mortgage interest capped at 75% (80% in 2017 and up to 100% under certain conditions) as long as the tennancy was registered with the RTB. Capital element of the mortgage not allowable. After that, expenses incurred wholly and exclusively for the purposes of renting. Don't forget capital allowances.