Form 12 Mistake

A

appd

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Hi

For the second year in a row I completed Form 11, which I posted to revenue in early October.

1. I completed section 3 stating my income under PAYE employment
2. I completed section 15 stating my income for a rented property
3. I enclosed a cheque for the amount of income tax, levy, prsi due on the rental income less expenses.(my company pays the paye portion directly)

And for the second year in a row they have send me a Balancing statement which lists only my PAYE income (although that seems to be the only available heading on the statement, there is no area on the statement to list other income). And also send me back a cheque for almost the entire amount that I send them a cheque for.

For some reason, however the form is processed they are missing the section on rental income. Do I need to telephone them, am I liable for penalties or should I view this as a christmas present?

thanks
 
It sounds as though you have not sent Revenue a TR1.
Have you registered for income tax?
Revenue are treating you as Paye only, but you said you completed Form 11 which is for the self-employed and those with significant non-Paye income.
 
Hi
Sorry I mistyped, I definitely submitted a form 12 (not 11). My understanding is that 12 is for PAYE workers with other income sources.
TR1 is for registering for Tax, as a PAYE worker would I need to do this?
The form 12 had all my details of other sources of income, would this information not be read or scanned in the revenue?

PS. does anyone know what happens to the forms that are posted in. Will they be kept as a record otherwise there is no proof that I did declare the income?
thanks
 
On the balancing statement has your rental income been coded against your tax credits? By this I mean if you look at the level of tax credits and standard rate cut off point, has your tax credits been reduced to take account of your rental income?
 
Hi, I am almost certain that the tax credits and cut off point we NOT adjusted.
 
appd said:
...My understanding is that 12 is for PAYE workers with other income sources.
TR1 is for registering for Tax, as a PAYE worker would I need to do this?...
Click to expand...

I assume just 12 myself. Curious to know others opinions on the TR1.
 
Think Form 11 is required if you have greater then approx 3K NET income from other sources
 
Hi

I think this year my net income from "other sources" was about 4k and I paid about 2K in tax(or intended to.)

So I should have filled in a form 11, by the look of things? I still can't understand how figures on the "rental income" sections of the form 12 were just ignored though.
 
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