Form 12 payslip

Hi all,
I'm helping my mother with her (paper based) Form 12 and there's a balancing payment for 2012 and prelim tax for this year due....BUT where is the payslip like on a Form 11?

Cheers!

There is no payslip - Form 12 results in a balancing statement rather than a tax assessment, and in most cases the underpayment of tax is collected by reduction of tax credits in the following year.

There is no preliminary tax for Form 12 taxpayers.

Oh wow, didn't know that, thanks! She has taxable rental income for 2013 of 24k or so but her gross income including her state pension is still just under 60k, so still no preliminary tax due? Another quick question...she remains a form 12 filer even if she gives up her PAYE employment and just has her state pension and rent, right?

I calculated that if she will have a tax liability for 2013 due to the rent of circa 10k. She earns 24k in her part time job and receives ca. 11k state pension. How would they balance that in 2015? Even if her credits were reduced to nil she'd still owe them something. How do they handle it? Change her rate bands? Would it be in any way advantageous to pay separately like a form 11 filer if thats even possible? Thanks for the help. Appreciate it very much.

I don't think that Form 12 is the correct form in this case. I think that the rent should should have been coded into the tax credits and standard rate cut off in 2012 and therefore end up with a minimum liability for 2012.

I can't find the specific guidance on when a form 12 is allowed.

Her accountant submitted her return last year via ROS. This guy however neglected to notice and or advise her that she was erroneously paying PRSI (she's 71 in January) and was not receiving a widowed person tax credit. I'm therefore taking over her returns from now on.

I would almost prefer to submit a form 11 as I find it cleaner and easier to understand than a balancing via tax credits. Can I simply submit the form 11 rather than the form 12? I understand. I understand it's going to cost a few quid in lost interest if prelim tax is paid.

Well if they did not enter her age she probably did not get the age credit either. If she is a PAYE employee she should not be paying PRSI on rental income anyway. You can't file a form 12 on ROS so I imagine that she filed a form 11 and should pay prelim tax.

Funnily enough she got the age credit Joe. I can't fathom it tbh. Between her employer and her accountant (and herself not paying enough attention to her finances) some big mistakes have been made IMO. When I say she paid PRSI, I mean she paid it on her PAYE income, but she has been furnishing her accountant with her P60 so he must have seen it. I'm a layman and it was something I found fairly quickly on the Revenue site.

I called the DSP Refunds Section and gave her PPS and the guy told me she should claim a refund asap as she's already overpaid PRSI to the tune of 3.5k but can only claim app. 3k back (ie, the last 4 tax years @ app. 750 per year.

Ok, I'll stick with the Form 11 and pay prelim tax and the balance for last year. It suits me this way anyway because I want her to register for Income Tax and ROS and then I can submit her returns for her from where I live (in Germany) without hindrance. As you correctly point out, an electronic Form 12 submission is not yet possible.

I've all the workings done anyway, just need to copy the figures over to the Form 11 from the Form 12 but there's only a few entries really.

As an aside: did they not eliminate the PRSI on rental income exemption for PAYE taxpayers in a recent budget?

So assuming I go with filing a Form 11, can I download a blank payslip for that? The one at the back of the Form 11E that I have is just a sample. I've googled but come up with nothing.