PAYE Anytime

Discussion in 'Tax' started by Fella, Jan 3, 2017.

  1. Fella

    Fella Frequent Poster

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    Sorry to post a question here but I have rang revenue and they seem clueless.

    I work in civil service so my tax is sorted for me generally.

    I have extra income dividends from 2016 I want to pay tax on.
    I click on paye anytime ( I'm registered) and I can enter all the details for 2016 now , I submit them to revenue but need a p60 ( that's fine I'll get it in a couple of weeks ) .
    The revenue guy I spoke to says your probably better off waiting till next October 2017 and filing your returns for the year 2016 then on a form 11 or form 12 . I ask him why and he says it's just better and won't "mess up your tax " he won't elaborate much more . I ask him is it ok to just use this simple form and he said yes . I am struggling to understand why there are 3 ways to enter a tax return on dividend income , id rather just do it now and enter dividends as they arrive instead of waiting for the October following year . Am I missing something ?
     
  2. T McGibney

    T McGibney Frequent Poster

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    Yes, the guy in Revenue doesn't know what he's talking about. You're far better off completing Form 12 (or Form 11 if the amount of dividends is sizeable or you'd prefer to use ROS) now than in October.
     
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  3. Fella

    Fella Frequent Poster

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    Thank you , I'm trying to figure out why I will be better off is it financially better off ?
    When is the earliest I can fill in this form 11 or 12 for 2016 income please ? Is it just any date before October or do I have to wait until October ?
     
  4. Jon Stark

    Jon Stark Frequent Poster

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    While it's possible he may have just been spoofing, giving the guy the benefit of the doubt he may have meant that if you file a Form 12 now, you'll have to pay the tax now or have it coded against your 2017 tax credits; whereas if you file later in the year you won't have to pay until after you've filed, or it will be coded against your 2018 tax credits (as beyond a certain point they won't reissue a tax credit cert to your employer for this year). In other words, deferring the payment of the liability.
     
  5. T McGibney

    T McGibney Frequent Poster

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    I give up. You said:
    If you want to do it now, you're better off doing it now.

    The answers to my other questions are all in my earlier reply.
     
  6. Fella

    Fella Frequent Poster

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    Apologies I was back onto revenue again , my problem was I was confusing the forms I couldn't actually see the forms 12 etc only a paye Anytime form as I am not the accessible partner , thanks for your response T McGibney and Jon and sorry for confusion .
     
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  7. Jon Stark

    Jon Stark Frequent Poster

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    You're gone even more contrary this days than I am Tommy, I hope you have more patience with your paying customers..! :mad::D
     
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  8. T McGibney

    T McGibney Frequent Poster

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  9. dub_nerd

    dub_nerd Frequent Poster

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    Fella, I don't know about Form 12s through PAYE Anytime, but you can certainly declare 2016 dividends via a Form 11 on ROS. I did mine on January 1st. Also, if you pay the resulting tax through a ROS debit instruction, you can date it any time up to the latest permissible date i.e. whatever date next November is the latest for ROS filers. So you don't have to pay now if you don't want to. Personally, I prefer to get it out of the way and it's not like the tax money would earn a whole lot of interest in the next ten months. So I'm all declared and paid up for 2016 as of New Years's Day with 364 blissful days of being able to ignore Revenue.