Advice re: Form 12

springbaby

Registered User
Messages
5
Hi
Looking for some advice please regarding declaration of extra income. I am a PAYE worker but have a second income that I want to ensure I declare properly. For the 2018 year I am trying to fill out a Form 12 as income to be declared is €2500 approx. I have to declare it myself as tax isn't deducted at source. I cant seem to do it online and am thinking its possible because my husband is self employed. I've never had to do this before. Can I send in a postal Form 12 at this stage or do I wait until October when my husband files. I will be taxed at top rate. Approx with USC, PRSI, Tax etc what percentage can I expect to be deducted.Can I also opt to pay Revenue direct as I don't want to affect my tax credits if possible.
Thanks for your help.
 

Clarkey

Frequent Poster
Messages
251
Hi
Looking for some advice please regarding declaration of extra income. I am a PAYE worker but have a second income that I want to ensure I declare properly. For the 2018 year I am trying to fill out a Form 12 as income to be declared is €2500 approx. I have to declare it myself as tax isn't deducted at source. I cant seem to do it online and am thinking its possible because my husband is self employed. I've never had to do this before. Can I send in a postal Form 12 at this stage or do I wait until October when my husband files. I will be taxed at top rate. Approx with USC, PRSI, Tax etc what percentage can I expect to be deducted.Can I also opt to pay Revenue direct as I don't want to affect my tax credits if possible.
Thanks for your help.
If ye are jointly assessed your income needs to be returned on your husband's Form 11.
 

springbaby

Registered User
Messages
5
Thank you for reply. Im confused now after reading lots on line. I have calculated 2500 approx as my net income i.e. gross less expenses to carry out contract work. Is this what I declare?
 

elcato

Moderator
Messages
3,163
You are a PAYE worker so as long as you have less than 5k taxable income to declare you fill in a form 12. You can do it online if you are registered for ROS. If not I'd register as it makes the filling in easier and you have till October to complete. Failing that just fill in the paper form and send it in. Revenue will send back a form 21 which will detail what the tax due is. I would put a note in also to ask them to send you the amount owed and you will forward a cheque or bank transfer as I believe the default option will be to reduce your credits for 2019.
 

Clarkey

Frequent Poster
Messages
251
You are a PAYE worker so as long as you have less than 5k taxable income to declare you fill in a form 12. You can do it online if you are registered for ROS. If not I'd register as it makes the filling in easier and you have till October to complete. Failing that just fill in the paper form and send it in. Revenue will send back a form 21 which will detail what the tax due is. I would put a note in also to ask them to send you the amount owed and you will forward a cheque or bank transfer as I believe the default option will be to reduce your credits for 2019.
Form 12 can't be filed as her husband is self employed and they are jointly assessed.
 

AJ1

Registered User
Messages
30
Hi there,

I was just about to post the very same query. I'm paye worker, husband self employed. We are jointly taxed and I file form 11 each year for his tax return. I'm planning to do some self employed work and will likely earn 3k per year from this. From this it seems I'll have to file this on the form 11 as opposed to form 12? Filing form 12 means I wouldn't pay prsi on the extra income whereas with form 11 I will.
 

AJ1

Registered User
Messages
30
Would anyone know if I need to register as a sole trader? My non paye income will be about 3k but I cant file a form 12 as hubby files form 11 and were jointly assessed.
 

relax carry on

Registered User
Messages
14
Would anyone know if I need to register as a sole trader? My non paye income will be about 3k but I cant file a form 12 as hubby files form 11 and were jointly assessed.
All your income both PAYE and non PAYE must be included on your spouse's form 11 if you are jointly assessed.
 

AJ1

Registered User
Messages
30
All your income both PAYE and non PAYE must be included on your spouse's form 11 if you are jointly assessed.
Thanks for that,

I know all our income will have to be included in form 11. My husband registered as a sole trader with revenue prior to starting his business. I'm not sure if I have to do the same as I will be earning so little non paye income. Ill be putting my income on the form 11 but my query is whether I need to register as a sole trader too.
 

MissSandy

New Member
Messages
3
Hi there,

I hope it is OK for me to post here. Apologies if not...I will move it to a separate post if required.

I was signed over some farmland which I have leased out. The rental income is just under €5000. I am looking for advice on declaring this rental income (this is my first year). I am hoping that it is a straightforward process and that I will be able to do it myself (I hope!)

I am a single parent and a PAYE worker. The following are my main queries:
Is it a F12 form I need to complete?
Can I register to do it online at this stage?
Is registering with ROS difficult?
I would like to keep it separate from my PAYE income...is this possible?
If I submit the form, will the revenue calculate the USC/PRSI due?
How can I pay them?
Do I need to submit anything along with the form?

Sorry for all the questions!

Thanks so much in advance ,
Miss S
 

elcato

Moderator
Messages
3,163
You can sign up for ROS fairly quickly. When was the rental income earned ? If it's 2019 you don't need to fill in a form 12 till 2020 (up to October). If it's 2018 it is due by October 31st this year. Doing it on ROS fills all the fields for you such as your PAYE income so it's easier but you can fill out a paper one too. You don't need to pay the tax immediatley with form 12 but they will send out a P21 balancing statement asking for whatever is due.
 

MissSandy

New Member
Messages
3
You can sign up for ROS fairly quickly. When was the rental income earned ? If it's 2019 you don't need to fill in a form 12 till 2020 (up to October). If it's 2018 it is due by October 31st this year. Doing it on ROS fills all the fields for you such as your PAYE income so it's easier but you can fill out a paper one too. You don't need to pay the tax immediatley with form 12 but they will send out a P21 balancing statement asking for whatever is due.
Hi there,

Thanks so much for the reply.

The rental income was earned in 2018.

I had a look there at the ROS website and first step is the apply for a RAN. Is it just "Income Tax" I select when it asks what type of tax? And my registration number is my PPS...is that correct?

I just want to make sure that this does not impact my income from work as I want to keep these separate, if possible. Is there anything I need or can do to ensure this?

Hopefully I will be able to manage the form. It was actually the accountant who suggested I do it myself. They did register as my "agent" (or something like that!). Does that matter?

Sorry again for all the questions!

MissSandy
 

Protocol

Frequent Poster
Messages
2,941
RAN suggests Form 11.

Form 11 is much more complex than Form 12.

With under 5k of rental income, can you not just use the Revenue MyAccount, and avoid Form 11?
 

elcato

Moderator
Messages
3,163
Sorry I meant the normal Revenue online thingy which I believe was PAYE Anytime and is myAccount now. Here's the link to sign up.
 

MissSandy

New Member
Messages
3
Thanks again for replying. I did not get notifications so didn't realise anyone had actually replied!

Ok...I have MyAccount setup already. So can I use that? Do I still fill out an F12?

The rental income is from farm/land lease and is €4800.

Thanks again in advance.
 

relax carry on

Registered User
Messages
14
Thanks again for replying. I did not get notifications so didn't realise anyone had actually replied!

Ok...I have MyAccount setup already. So can I use that? Do I still fill out an F12?

The rental income is from farm/land lease and is €4800.

Thanks again in advance.
Form 12 for 2018 as the taxable income is under 5000 euro.
 

Balfour

Frequent Poster
Messages
150
Thanks again for replying. I did not get notifications so didn't realise anyone had actually replied!

Ok...I have MyAccount setup already. So can I use that? Do I still fill out an F12?

The rental income is from farm/land lease and is €4800.

Thanks again in advance.
Hi, What would the approx tax amount be due on the 5k. Thanks
 

SCurry

Frequent Poster
Messages
60
Just to add some info to the above I am in the same boat as the OP in that I earn about 3k per year in addition to my day job (except my spouse isn't self-employed). I use the form 12 option, then I pay the tax calculated to revenue via credit card in one lump sum to avoid any change in credits.
 
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