Form 11

Can anyone advise if I am correct in stating that when filling the Form 11 as a proprietary director of a limited company I only need to fill in the details of the salary I have drawn down for 2007 and not the trade income and expense account of the company as this is covered in the corporation tax return for the company. I would be grateful for any advice.

You do not fill in any of the company details - purely the salary and paye deducted. You also need to indicate on the form 11 that you are a director (on page 2).

Don't forget to indicate on the Form 11 which credits you are claiming e.g serice charges etc., even if they are covered on your certificate of tax credits for 2007 they won't appear on your notice of assessment unless you claim for them on Form 11.

Thank you advisor and simplyjoe. The reason I got confused was that last year I did a paper return but this year, when I tried doing it with Ros, it won't let me pass the page where trading income and expenses go in eventhough I have ticked the box for proprietary director. Thanks for you help - I'll now revert to a paper return.

be carefull if you own more than 15% of company share capital you are not entitled to paye credit.

no harm to draft it on ros as it calulates tax due- i assume nil due assuming p60 is right.

it is essential to file on time as i have seem revenue fineing at 10% of tax deducted on p60 for late filing . they would already have received the tax but the fine was for not filing of tax return.

if you have spouse add in their p60 and you may get refund

papervalue said:

it is essential to file on time as i have seem revenue fineing at 10% of tax deducted on p60 for late filing . they would already have received the tax but the fine was for not filing of tax return.

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A very, very important point.

I am a PAYE worker and I participate in a share purchase scheme in work whereby we purchase shares at a discount (non approved scheme from Revenue perspective). I have done this for a number of years.

I always paid the RTSO due on time. This triggered my registration for Income Tax with the Revenue. I never filed a Form 11. I am doing this now for 2007 and prior years using ROS.

I am going to get in trouble for not submitting a Form 11 pre 2007? I may have a net liability with the Revenue for prior years.

Also, does panel A on a P60 quote income after pension contributions have been deducted as part of an contributory occupational pension scheme? I cannot see any panel on the Form 11 re pension contributions.