Form 11 - Which fields to fill in Section B for supplying a simple Service

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Towger

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Question: In Form 11 - Which fields should be filled if one is supplying a service (i.e. self employed sole trader) of approx 3.5K per year?

Are the following correct:

101 - Self / Spouse: Self explanatory
102 - Description: Self explanatory
104a - Amount of adjusted net profit for accounting period. (period is calendar year): Net Profit for providing the service?
105a - Assessable profit: Should this be the same as 104a?

119 - From Date: Self explanatory
120 - To Date: Self explanatory

123 - Sales/Receipts/Turnover: Gross income from service.
131 - Motor/Travel is the only real cost: Is this allowed as an expense?
137 - Drawings: Should this be the Net Profit (104a) as no money is left in the ‘business’ at end of year?

148 - Net Profit per Account: Same as 104a?

150 - Motor Expenses: What’s the difference between this and 131?
152 - Light, Heat, Phone: €10 phone calls. Again as per 150 what is the difference between ‘Expenses and Deductions’ and ‘Adjustments’?


 
I know, In the past I have sent in Form 12, but a couple of years ago they send it back with a snotty letter and a copy of Form 11, stating I should be filling it instead.
But you know Revenue, the rules change depending on who you ask. I.e. lack of training. I have actually been told they use ‘on the job’ training for the front line staff.


So any answers to my questions or do I chance sending in Form 12 again?
 
101 - Self / Spouse: Self explanatory
102 - Description: Self explanatory
104a - Amount of adjusted net profit for accounting period. (period is calendar year): Net Profit for providing the service?
Profit after adding back any non-allowable items which were included originally. e.g. if you put in total motor in the accounts and only 1/3 is allowable then adjusted profit is the original profit + 2/3 motor. Same applies for any other non-allowable expenses. Also depreciation is added back to original profit to get adjusted profit.
105a - Assessable profit: Should this be the same as 104a?
Usually yes
119 - From Date: Self explanatory
120 - To Date: Self explanatory
123 - Sales/Receipts/Turnover: Gross income from service.
Yes ( excluding VAT if registered for VAT)
131 - Motor/Travel is the only real cost: Is this allowed as an expense?
To the extent used for business pruposes only.
137 - Drawings: Should this be the Net Profit (104a) as no money is left in the ‘business’ at end of year?
If only transactions are sales-motor then drawings will usually be the balance. They look for drawings excl Tax paid and pension contributions so you need show the net.
148 - Net Profit per Account: Same as 104a?
If no non-allowable costs and no depreciation addback yes.
150 - Motor Expenses: What’s the difference between this and 131?
This is adding back any non-allowable amount if any included in original accounts as mentioned above.
152 - Light, Heat, Phone: €10 phone calls. Again as per 150 what is the difference between ‘Expenses and Deductions’ and ‘Adjustments’?
Again is the addback for non-allowable items. If all your motor claimed and phone etc claimed in the accounts are allowable then you would have no addback here.

If in doubt as to the accurate completion of F11 seek appropriate first hand advice.
 
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