ROS and submitting a rental income tax return for previous year

humblepie

Registered User
Messages
9
Please someone help before I lose my mind!

Registered with ROS to make my tax affairs easier. Went though the snail mail process and got set up.
Bought a property 8 years ago but never submitted a return. I want to do it now and was told by accountant that I could do a return for the last 7 / 8 years on ROS for the property. (there is no liability any year but I want to do for peace of mind.)
Question is where in ROS can I make the return and submit for each of the years gone by? i want to go back to 2003...And I only want to make return for the property and the rental income etc.

Its recking my head. Anyone please help
 
And I only want to make return for the property and the rental income etc.


Can't answer the ROS questions I'm afraid, but you can't make a return of just the rental income - any tax return has to include all income for the period in question, spouse's too if applicable.
 
Ok, thanks Mrs Vimes.
So, does anyone know where on ROS I can make a complete return for the years going back to 2003? I was a PAYE earner and this rental income from this property is my only other income each year. I did not meet the threshold any year but I still have to make a return afaik.

Thanks
 
You can't include previous years income on current year tax return (AFAIK). In the event that net rental income was not declared in respect of prevoius years, you should contact the Revenue directly as interest & penalties may apply.
 
If you want to file on line you need to download the ROS Offline application from within the Revenue website. From within that you download Form 11 for each year you require, complete the relevant details, and upload the form via the "upload a form completed offline" facility on ROS.

You need to include ALL your income for the relevant years - no just the rental income.

Depending on your circumstances there could be a surchage on the late returns.

I'm surprised there's no liability for any of the years. Especially latter years when interest allowable has been reduced to 75%. Presumably, each tenancy post 1 Jan 2006 has been registered with PRTB.
 
As a matter of interest does anyone know what late filing fees are even if no tax liability is due on rental income?
 
As a matter of interest does anyone know what late filing fees are even if no tax liability is due on rental income?

My understanding of the rule is that if you owe no tax then there is no late filing fee etc but in the OP's case they have other income and then I think they will be liable. But an accountant should clarify that or revenue themselves.

Very surprised that the OP would have zero liability for so many years. Unless it's a very large mortgage in comparison to rent.
 
There is a surcharge of a percentage of the tax liability for a late return: 5% if it's less than 2 months late and 10% if over 2 months late.

There can also be tax geared penalties and interest.

Failure to file a tax return carries a maximum fine of €4,000.
 
Form 12 may be the appropriate form for many of the years, the early ones in particular (where 100% interest deduction was available). As form 12 gives rise to a balancing statement rather than an assessment, there would be no penalty.
 
Form 12 may be the appropriate form for many of the years, the early ones in particular (where 100% interest deduction was available). As form 12 gives rise to a balancing statement rather than an assessment, there would be no penalty.
thanks
 
Just came across this post and I was wondering how you got on with revenue when you submitted your previous years returns?
 
Back
Top