Directors Form 12 - Gone?

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wowser

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This year for the first time I received a Form 11 for the Self Employed rather than the Direcors Form 12 I usually get as a proprietary director (IT contractor). My tax office rather uncertainly said that the Form 12 was gone and I'd be filling in the (more complicated) Form 11 from now on.

Can anyone confirm this or explain the reason for the change?

thanks...
 
See this from Revenue.ie

Directors have been chargeable persons for the purposes of Self-Assessment since 1992/93. Revenue's Statement of Practice, SP - IT/1/93, excluded non-proprietary directors (who were otherwise not a chargeable person and whose income had been subject to PAYE) from these self-assessment provisions. All proprietary directors remained chargeable persons and were required to submit a return of income by the return filing date. A proprietary director is a director of a company who is the beneficial owner of, or is able either directly or indirectly to control more than 15% of the ordinary share capital of the company. There is no change to this position as outlined in this Statement of Practice.
The purpose of this note is to advise practitioners that for the tax year 2005 and following years the Form 12 Directors will no longer be produced and all proprietary directors will be issued with a Form 11.
Directors, both proprietary and non-proprietary, who have previously been issued a Form 11 will continue to receive a Form 11.

I'm in the same boat and it's a bit of a pain in the behind!
 
Thanks guys,

I didn't ask my accountant since I take care of my income tax myself - he only does the company accounts.

It's a pity they didn't send that note to people who used to get the Form 12 Directors - so much for keeping you informed!
 
Can someone explain the revenue note in simpler terms? I'm an IT contractor and have received a Form 12 for 2005. What is the difference between me and wowser?
 
What is the difference between me and wowser?
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From what I can see there is no difference ! Don't know why you got a Form 12 when there are supposed to be stopping them.

I wonder if the revenue will accept a Form 12 from you for 2005? - it might be worth checking out
 
efm said:
I wonder if the revenue will accept a Form 12 from you for 2005? - it might be worth checking out
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I can't see why they wouldn't.

If in doubt, print off form 11 from web and fill it in instead.

The form 11 is no more complicated than the form 12. You're only filling in the sections relevant to you anyway. So if you don't trade you can ignore the first 7 pages etc.
 
There are actually 2 Form 12's - 1 for directors, called Form 12 (Directors), the other for other employees, called Form 12 (Employees and Pensions)
 
I got the Directors Form 12. I'll check with my accountant whether I should fill this in or get a Form 11. Will try mailing someone in revenue also.
 
Extract from Revenue tax briefing published December 2005:

"Directors have been chargeable persons for the purposes of Self-Assessment since 1992/93. Revenue's Statement of Practice, SP - IT/1/93, excluded non-proprietary directors (who were otherwise not a chargeable person and whose income had been subject to PAYE) from these self-assessment provisions. All proprietary directors remained chargeable persons and were required to submit a return of income by the return filing date. A proprietary director is a director of a company who is the beneficial owner of, or is able either directly or indirectly to control more than 15% of the ordinary share capital of the company. There is no change to this position as outlined in this Statement of Practice.
The purpose of this note is to advise practitioners that for the tax year 2005 and following years the Form 12 Directors will no longer be produced and all proprietary directors will be issued with a Form 11.
Directors, both proprietary and non-proprietary, who have previously been issued a Form 11 will continue to receive a Form 11."

 
Ham Slicer said:
The form 11 is no more complicated than the form 12. You're only filling in the sections relevant to you anyway. So if you don't trade you can ignore the first 7 pages etc.
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Well, when I rang they told me I had to fill in the section containing exerpts from my accounts, even though my trading profit is zero and I take all my income as salary through PAYE. I reckon that's definitely more complicated than what I had to do last year...
 
wowser said:
Well, when I rang they told me I had to fill in the section containing exerpts from my accounts, even though my trading profit is zero and I take all my income as salary through PAYE. I reckon that's definitely more complicated than what I had to do last year...
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Are you confusing the contents of your company accounts with your personal (PAYE salary) income as director? If you're confused, you definitely should seek appropriate professional advice before completing the form.
 
ubiquitous said:
Are you confusing the contents of your company accounts with your personal (PAYE salary) income as director?
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Yeah, I guess I was. After speaking to my accountant he pointed out that "my accounts" are actually my company's accounts - an entirely separate legal entity. So I just ignored the trading income section on the form 11. Completed it on ROS too - very handy...
 
I asked my accountant about it and he said you only had to fill in the Form 11 if you had other income to declare other than the PAYE income.
 
Helen said:
I asked my accountant about it and he said you only had to fill in the Form 11 if you had other income to declare other than the PAYE income.
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Can somebody confirm that I, as a proprietary director for IT contract purposes, with only deposit interest as additional income in 2005 do not have to return a Form 11? I pay PAYE monthly.

Thanks
 
emm....i don't think I can confirm that to be honest - if you are a prop. director you are a "chargeable persons for the purposes of Self-Assessment since 1992/93" and so you need to submit a Form 11 or at the very least a Form 12 (Directors) (even though this may not be appropriate see above)- call your local tax office and they should tell you which form they are expecting to receive
 
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