# PAYE - Form 12 - DIY



## ccbkd (11 Sep 2008)

OK I am going to attempt to do this myself - I am an Architect by Profession - I earn a Salary of 80,000 plus 10,000 Bonus giving 90,000. During 2008 , I did Three Nixers I received €2,160, I also received a divedevd from Shares for €252.00, taking account of 42% tax and PRSI how do I do the math and fill in form and then do I simply write cheque and forward to Revenue? Thanks in advance


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## WaterSprite (11 Sep 2008)

The form 12 instructions are pretty useful.  I'd advise doing a dry run on that and then posting back with any specific questions/problems (if any) you come up against.  But yes, the simple matter is to fill in the form with the relevant calculations (I presume you're employed for your main income) and then send in a cheque with the form for the relevant amount.  It's a shame you missed the August 31st date as you could have sent in the form by then and revenue would check it for you.

Depending on non-paye income for 2007, you may have to pay preliminary tax on your 2008 nixer money (you have to pay 90% of the previous year's liability (which may be zero) or 100% of the current year's liability; you choose)

Sprite


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## Paul J (11 Sep 2008)

On a related note, I completed my P12 form and sent it in to the Revenue in August for them to verify it and calculate what I owe.

I have received by P21 balancing statement back showing a tax underpayment of just over €300, but then underneath that it says "This underpayment will not be collected at this time"

Does this mean that I don't have to make the payment. I obviously want to keep all my tax affairs in order, but it appears that the Revenue do not require me to make the payment (Perhaps my underpayment falls under a particular threshold).


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## redcard (11 Sep 2008)

the same thing happened me last year on rental property tax return for roughly the same amount, i rang them and they said they wouldnt be collecting it then, but if i made a profit in 2007 then they would collect it.


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## Gondola (12 Sep 2008)

I am looking to download a F12  2006 from the revenue site. I would like to compare to 2007 - which I have already downloaded - but I am not able to find it. 
Does anyone know if the only possible option is ask revenue to mail an old 2006 F12 to me? 
Also - I am completing F12 this year because the site says it is for PAYE individuals, whereas last year I filled in a form 11. 
Can anyone tell me what the main difference is between the 2 forms?


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## WaterSprite (12 Sep 2008)

Paul J said:


> On a related note, I completed my P12 form and sent it in to the Revenue in August for them to verify it and calculate what I owe.
> 
> I have received by P21 balancing statement back showing a tax underpayment of just over €300, but then underneath that it says "This underpayment will not be collected at this time"
> 
> Does this mean that I don't have to make the payment. I obviously want to keep all my tax affairs in order, but it appears that the Revenue do not require me to make the payment (Perhaps my underpayment falls under a particular threshold).



I'd imagine that this means that you don't have to pay the underpayment immediately, but do have to pay it by October 31st.  Don't know for sure though - you should call them and clarify.

Sprite


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## ccbkd (18 Sep 2008)

WaterSprite said:


> The form 12 instructions are pretty useful. I'd advise doing a dry run on that and then posting back with any specific questions/problems (if any) you come up against. But yes, the simple matter is to fill in the form with the relevant calculations (I presume you're employed for your main income) and then send in a cheque with the form for the relevant amount. It's a shame you missed the August 31st date as you could have sent in the form by then and revenue would check it for you.
> 
> Depending on non-paye income for 2007, you may have to pay preliminary tax on your 2008 nixer money (you have to pay 90% of the previous year's liability (which may be zero) or 100% of the current year's liability; you choose)
> 
> Sprite


 
Response was good but ambiguity of last paragraph lost me - 2007 not issue - No non PAYE income then - confusing issue by throwing unwanted Spanner in Works but Thanks anyway . My Understanding is this 

90,000 - PAYE
2,160 - Nixer
252 - DIvidend

          92,412.00
Tax at 20%
Balance 41%

Less Tax Credits

Total Liability

Or

2,160

less 20%
Balance at 41%

Tax Laibiliy -

Ditto for Shares

Help?


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## WaterSprite (18 Sep 2008)

If you didn't have non-PAYE income in 2007 then no preliminary tax is payable for 2008 income in 2008.  The spanner would not have been unwanted if you had 2007 non-paye income and oftentimes posters (not you in this case) don't give all the details and may think they just have to pay 2008 tax in 2009 and ignore any preliminary tax obligations.

Did you read the form 12 instructions for help?

Sprite

p.s. in your example, the first method is the correct one - you total your income (PAYE and nixer) and then apply full year tax numbers.  I don't know much about dividends so can't comment on that


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## TravisT (19 Sep 2008)

I was considering getting a tax specialist to complete my form 12 - I need to complete for 08 back to 06. 
What's the best person to go to for this - regular accountant  or any specific type?
Also, since i have the forms for these years - i can check the difference for you if you want?


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## Allen (19 Sep 2008)

ccbkd said:


> OK I am going to attempt to do this myself - I am an Architect by Profession - I earn a Salary of 80,000 plus 10,000 Bonus giving 90,000. During 2008 , I did Three Nixers I received €2,160, I also received a divedevd from Shares for €252.00, taking account of 42% tax and PRSI how do I do the math and fill in form and then do I simply write cheque and forward to Revenue? Thanks in advance


 
I think it would be best to fill in a Form 11 as you have non-PAYE earned income.
If you use the revenue on-line system http://www.ros.ie it will do the calculations for you.


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## Gondola (20 Sep 2008)

I used the calculation site on ROS for completing F12 as well. The only difference is that you'll have to report the result of the calculations onto the F12 where it is automatically done for F11.

A few frends have done this as well and it works perfectly.


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## ClubMan (21 Sep 2008)

TravisT said:


> I was considering getting a tax specialist to complete my form 12 - I need to complete for 08 back to 06.
> What's the best person to go to for this - regular accountant  or any specific type?
> Also, since i have the forms for these years - i can check the difference for you if you want?


Would this service be of any use? I have no vested interest - just heard it advertised/mentioned on the radio recently. I presume that any other suitably qualified professional tax advisor would suit just as well but perhaps a service provider like this is better geared towards small/_PAYE _taxpayers and benefit from some economies of scale?


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## paddyd (23 Sep 2008)

Allen said:


> I think it would be best to fill in a Form 11 as you have non-PAYE earned income.
> If you use the revenue on-line system http://www.ros.ie it will do the calculations for you.



Possibly not, as the F12 is better if the amount of tax potentially due is less than you total tax credits for the year, (or about 3.5k). In that case they simply deduct the tax from your credits, rather than a payment. 
As any tax on your non-PAYE income would be less than that, the F12 is the one.
The F11 is for bigger amounts of payable tax.


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## anotherdub (20 Oct 2008)

Gondola said:


> I am looking to download a F12  2006 from the revenue site. I would like to compare to 2007 - which I have already downloaded - but I am not able to find it.
> Does anyone know if the only possible option is ask revenue to mail an old 2006 F12 to me?



Google will pull any form for the last few years from revenue.ie, e.g.


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## Gondola (20 Oct 2008)

Great! Thanks anotherdub. This will do.


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## TravisT (23 Oct 2008)

ClubMan said:


> Would this service be of any use? I have no vested interest - just heard it advertised/mentioned on the radio recently. I presume that any other suitably qualified professional tax advisor would suit just as well but perhaps a service provider like this is better geared towards small/_PAYE _taxpayers and benefit from some economies of scale?


 

thanks for the advise, I will check it out!


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