Calculating income tax and form 12.

[Mick40]

Hi

I'm in the process of completing my income tax from renting an apartment for the year 2017. I'm filling out form 12 on the revenue site. I just wanted to ask once I input the income and expenses for the year does the site calculate the tax due automatically or do I calculate tax due myself.

Mick.

 

[Mary55555]

Hello

I’ve not filed a form 12 but from some guidance I read I don’t think it does.. see page 13.


https://www.revenue.ie/en/tax-profe...ains-tax-corporation-tax/part-38/38-06-05.pdf

I think you just have to wait for the end of year statement..

 

[elcato]

My experience of form 12 is fill it in and send it off. Revenue will then issue a P21 form with the outstanding amount on it. Make sure you fill in your tax allowances in full such as health insurance relief.