Form 12- Tax Returns, a few questions

[galwayman]

Hi,
(I know it's waaay overdue but better to submit late than never).
Some points I'm not sure on
1. 'Gross amount of tax deducted'. On my P60 I can't see this. I can see total pay, PRSI, total PRSI, Universal social charge amounts. for tax only total net tax deducted, nothing about gross.

2. Capital allowance brought forward from a prior year. How can you bring some forward?

Thanks,
Paul

 

[Graham_07]

1. Is the tax per the P60. Not all Revenue forms use the same wording for the same item.
2. Do you have self-employed or rental income? If not this is not relevant. If you do then you can have unused CA if adjusted profits in previous periods were insufficient to utilise all available CA and the balance can then be carried forward.

 

[galwayman]

1. Is the tax per the P60. Not all Revenue forms use the same wording for the same item.
2. Do you have self-employed or rental income? If not this is not relevant. If you do then you can have unused CA if adjusted profits in previous periods were insufficient to utilise all available CA and the balance can then be carried forward.

Hi,
Thanks for the reply.
1. thanks, yes it's from the P60
2. it's for our 2nd property/rental property. Call me stupid but how do I check if CA was unused or not?
Thanks,
pa.

 

[Graham_07]

2. it's for our 2nd property/rental property. Call me stupid but how do I check if CA was unused or not?

You need to look at what you put on your earlier years returns since the rental income commenced. If taxable rental income exceeded CA each year then there would be no unused amount brought forward. If CA exceeds taxable rents then there may be an amount to bring forward but that would depend on each previous years net result.