Form 12 - first time

Coinsguy

I'm competelty lost.

I withdrew about €1,000 and literally €100 in 2016 so both are under the CGT limit. I just printed out the form 12 there but now I've some issues:

1) It says "capital gains tax for the year 1 january 2016 - 31 december 2016" etc - so if you make a profit in 2017 you don't have to declare it until 2019?

2) No idea how much info I need to fill out. Section 78 makes sense since it's about CGT but what else is needed? Is it just that and the personal details section? Is it just the CGT section and personal details? Someone mentioned they'll need your p60 too but surely not?

Surely there's a guide somewhere, half tempted to pay someone to do this for me but i'm not even over the limt for tax

Geuze

Don't pay anybody.

Do the Form 12 online, having first registered with Revenue.

In terms of your P60, yes have it to hand when you do the return, but usually those fields have been pre-populated, as your employer would have made their return to Revenue, and so Revenue know the P60 figures.

Squatter

Coinsguy wrote: »

Surely there's a guide somewhere, half tempted to pay someone to do this for me but i'm not even over the limt for tax

Start here!

https://www.ros.ie/myaccount-web/form12/info/aboutform12?lang=en

tanit

Coinsguy wrote: »

I'm competelty lost.

I withdrew about €1,000 and literally €100 in 2016 so both are under the CGT limit. I just printed out the form 12 there but now I've some issues:

1) It says "capital gains tax for the year 1 january 2016 - 31 december 2016" etc - so if you make a profit in 2017 you don't have to declare it until 2019?

2) No idea how much info I need to fill out. Section 78 makes sense since it's about CGT but what else is needed? Is it just that and the personal details section? Is it just the CGT section and personal details? Someone mentioned they'll need your p60 too but surely not?

Surely there's a guide somewhere, half tempted to pay someone to do this for me but i'm not even over the limt for tax

First CGT only arises if you have made a gain on a transaction. What do you mean by withdraw? If you withdraw 1,000 from your savings account that doesn't give rise to CGT, you need to have bought or received something and sold or transfer that something and make a gain for a liability to exist

L1011

I'd take a stab in the dark from the username that it is gains from cryptocurrency.

Coinsguy

tanit wrote: »

First CGT only arises if you have made a gain on a transaction. What do you mean by withdraw? If you withdraw 1,000 from your savings account that doesn't give rise to CGT, you need to have bought or received something and sold or transfer that something and make a gain for a liability to exist

As in withdrawing profit to my bank.

Coinsguy

L1011 wrote: »

I'd take a stab in the dark from the username that it is gains from cryptocurrency.

Nope. Not that it has anything got to do with my post. A gain is a gain,cryptocurrency or not.

Coinsguy

Squatter wrote: »

Start here!

https://www.ros.ie/myaccount-web/form12/info/aboutform12?lang=en

The online version says not to use it for CGT so I can't use that?

Coinsguy

All I want to do is declare that I've made profit in 2017 (under the 1270 threshold so thought it would be easy). Surely this is a common thing to do.

Coinsguy

Geuze wrote: »

Don't pay anybody.

Do the Form 12 online, having first registered with Revenue.

In terms of your P60, yes have it to hand when you do the return, but usually those fields have been pre-populated, as your employer would have made their return to Revenue, and so Revenue know the P60 figures.

I can't do this online according to revenue?

Get on the website and find a helpline for the relevant form/tax. I remember my first tax return a guy from revenue spent about half an hour explaining most of the form in plain English