2019 form 11.

robbo29

Good morning,

i am new to the boards so thank you for your time in reading this and in advance for your help

I recently received a letter from the revenue asking me to fill in form 11. Now I'm a complete noob when it comes to taxes. I have been employed under PAYE since 2015 and have no other income. I was self-employed from Jan to Feb in 2015 for max 2 months.

any help would be good, I'm not sure what to do. i have opened a case in the ROS site but any advice would be greatly appreciated.

many thanks

should i contact a financial advisor?

relax carry on

robbo29 wrote: »

Good morning,

i am new to the boards so thank you for your time in reading this and in advance for your help

I recently received a letter from the revenue asking me to fill in form 11. Now I'm a complete noob when it comes to taxes. I have been employed under PAYE since 2015 and have no other income. I was self-employed from Jan to Feb in 2015 for max 2 months.

any help would be good, I'm not sure what to do. i have opened a case in the ROS site but any advice would be greatly appreciated.

many thanks

should i contact a financial advisor?

Did you ever deregister and did you file your form 11 for 2015? If you have no non PAYE income since 2015 you need to tell Revenue that by deregistering. They aren't mind readers.

The Letter should include instructions on how to deregister.

DonegalBay

relax carry on wrote: »

Did you ever deregister and did you file your form 11 for 2015? If you have no non PAYE income since 2015 you need to tell Revenue that by deregistering. They aren't mind readers.
20
The Letter should include instructions on how to deregister.

My query is related to this so won't start a new thread. Started a new career in 2019 and someone suggested it would be a good idea to be self-employed so I registered. I never actually traded though and worked under the PAYE system as an employee. I de-registered in Dec 2020 and thought that was it, but now I have received notification that I still need to file an F-11 for 2019. Registered on ROS and had a look at the Form, pages and pages. As I never traded, how much of this form needs to be filled?

relax carry on

DonegalBay wrote: »

My query is related to this so won't start a new thread. Started a new career in 2019 and someone suggested it would be a good idea to be self-employed so I registered. I never actually traded though and worked under the PAYE system as an employee. I de-registered in Dec 2020 and thought that was it, but now I have received notification that I still need to file an F-11 for 2019. Registered on ROS and had a look at the Form, pages and pages. As I never traded, how much of this form needs to be filled?

Every section related to your income and tax credits/reliefs claimed. You'll have to input all zeros for your trading income and note the date it ceased.

DonegalBay

relax carry on wrote: »

Every section related to your income and tax credits/reliefs claimed. You'll have to input all zeros for your trading income and note the date it ceased.

Thanks for the response. I have been working my way through it and can skip a lot. One query though. I had sold some shares as an individual, but have already paid the tax due on it, do I need to include those details in the form as well under the CGT section or is that just if I did so as self-employed/business? I have been contacting revenue, but responses are slow.

relax carry on

DonegalBay wrote: »

Thanks for the response. I have been working my way through it and can skip a lot. One query though. I had sold some shares as an individual, but have already paid the tax due on it, do I need to include those details in the form as well under the CGT section or is that just if I did so as self-employed/business? I have been contacting revenue, but responses are slow.

Yes unless you've already filed a a separate CGT return though I don't see how you could. There are two parts to meeting your CGT obligations. The first is paying your tax due on time which happens before the return is due and the filing the return to match the payment you made.

DonegalBay

relax carry on wrote: »

Yes unless you've already filed a a separate CGT return though I don't see how you could. There are two parts to meeting your CGT obligations. The first is paying your tax due on time which happens before the return is due and the filing the return to match the payment you made.

Thanks again for the response, however I do have a follow up question as I have been waiting on a response from Revenue since last week. I checked my records and the capital gain was from 2018 and I filed the CGT return in 2019. Does this mean I am now clear of reporting this on the F-11? If so I can go ahead and submit the form. Will be happy to get it out of the way, fair play to anyone who has to do this regularly.

relax carry on

DonegalBay wrote: »

Thanks again for the response, however I do have a follow up question as I have been waiting on a response from Revenue since last week. I checked my records and the capital gain was from 2018 and I filed the CGT return in 2019. Does this mean I am now clear of reporting this on the F-11? If so I can go ahead and submit the form. Will be happy to get it out of the way, fair play to anyone who has to do this regularly.

The way it works with CGT is you pay the CGT due on transactions between January and November in a tax year in December of that year. For transactions in December you pay by January of the following tax year. The actual CGT return to tie into the payments is due by 31st October the following year. So for transactions in 2018 you had to file your CGT return by 31st October 2019. For 2019 transactions you file by 31st October 2020. If you have to file form 11s annually anyway you really should be using the CGT section of the form 11 and not a separate CG1 form as you are just doubling up on the work.