All the boxes on Page 6 of the Form 12 are a bit of a puzzle to me!
TAX YEAR 2011:
I had a profit year 1 ( 2010 return submitted) but I am trying to complete the next 2 yrs return to declare losses etc.
Gross Rents: €5,000
Less:
Repairs/Mort/others exps: €6,000
Net Rental Loss (after expenses but before Capital Allowances) (€1,000)
**************************
I have a W&T Allowance (€1,000, i.e 8,000 x 12.5%) available.
The next few boxes confuse me a bit, namely:
Capital Allowances brought forward from a prior Year:
*Capital/Balancing Allowances for the year 2011:
Capital Allowances used against Rental Income in the year 2011:
Capital Allowances available for carry forward or offset:
Excess Cave V Capital Allowances:
The last two lines in particular confuse me because they seem the same thing? The line with the * I think only refers to S23 Prop & N/A.
Any help on the correct figures to put in the boxes corresponding to the 5 lines above would be greatly appreciated
TAX YEAR 2011:
I had a profit year 1 ( 2010 return submitted) but I am trying to complete the next 2 yrs return to declare losses etc.
Gross Rents: €5,000
Less:
Repairs/Mort/others exps: €6,000
Net Rental Loss (after expenses but before Capital Allowances) (€1,000)
**************************
I have a W&T Allowance (€1,000, i.e 8,000 x 12.5%) available.
The next few boxes confuse me a bit, namely:
Capital Allowances brought forward from a prior Year:
*Capital/Balancing Allowances for the year 2011:
Capital Allowances used against Rental Income in the year 2011:
Capital Allowances available for carry forward or offset:
Excess Cave V Capital Allowances:
The last two lines in particular confuse me because they seem the same thing? The line with the * I think only refers to S23 Prop & N/A.
Any help on the correct figures to put in the boxes corresponding to the 5 lines above would be greatly appreciated
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