Why do I have to include DIRT on my Form11 Tax return ?

U

Usjes

Registered User
Messages
70
Hi

I am basically a PAYE taxpayer but because my employer granted me some stock options I am self assessed and have been filling out the Form11 for a number of years. Most of the form is not applicable to me but I always fill out all the ones that are. One of the more annoying ones is the Deposit interest earned field because I have to get certs from all my accounts and it seemed particularly pointless because the amount of interest is so small. Anyway this year just out of interest I looked to see what actual difference the DIRT made to my nett liability. To my surprise it actually has no effect. I can replace my actual interest earned by €1 or €10000 and it makes precisely zero difference to my final liability ! So why exactly have I been filling this out for years if it makes no difference ? So googling indicates that from next years return onward I may be liable for PRSI on my interest but this has not been the case for previous years. So, does anyone know why was the Interest on which DIRT has already been paid ever included in the Form 11 ?

Thanks,

Usjes.
 
Usjes said:
Hi

I am basically a PAYE taxpayer but because my employer granted me some stock options I am self assessed and have been filling out the Form11 for a number of years. Most of the form is not applicable to me but I always fill out all the ones that are. One of the more annoying ones is the Deposit interest earned field because I have to get certs from all my accounts and it seemed particularly pointless because the amount of interest is so small. Anyway this year just out of interest I looked to see what actual difference the DIRT made to my nett liability. To my surprise it actually has no effect. I can replace my actual interest earned by €1 or €10000 and it makes precisely zero difference to my final liability ! So why exactly have I been filling this out for years if it makes no difference ? So googling indicates that from next years return onward I may be liable for PRSI on my interest but this has not been the case for previous years. So, does anyone know why was the Interest on which DIRT has already been paid ever included in the Form 11 ?

Thanks,

Usjes.
Click to expand...

I pondered this also and concluded that there are different types of DIRT, some at 33%, some at 36% and the usual at 41%. I am all at 41% so I will not be filling that line in. Am I correct?
 
You must log in or register to reply here.
Back
Top