Form 12 questions

Hi,
I was wondering could someone help me out about the Form 12.

I am filling my own out for 2009 (can't afford an accountant like a lot of other people) and I have two questions:

I am claiming for income on an apartment.

1. I would like to pay the tax I owe by cheque. (As it will be difficult for me to manage finances next year if they adjust my tax credits). The form asks for the rent received, the allowable expenses and the net income before capital expenses. But there is no net income field after capital expenses. Is it ok for me to just work this out (its just a simple subtraction) and then figure out the tax owed on it and then for me to include a cheque in the post, or do I need additional paper work?

2. I had medical expenses for 2009. Should I claim for these in the same form and at the same time or can I do this later.

3. Who do I make the cheque out to?

If there's someone who could help I'd be very grateful if you could post or PM me.

Thank you.

Many thanks.

1. Don't send a cheque now. Wait for the assessment to issue from Revenue. You can work out for yourself what you expect the extra tax to be and check tha assessment agress.

2. You can claim on the same form.

Don't forget you can only claim mortgage interest if you are fully PRTB compliant, and as from 2009, only 75% of the interest is an allowable expense.

Gervan said:

1. Don't send a cheque now. Wait for the assessment to issue from Revenue. You can work out for yourself what you expect the extra tax to be and check tha assessment agress.

Click to expand...

The return and payment need to be in before October 31st. OP has left it to mid-September to file return so I would be surprised if Revenue would have the return processed in time to make that payment date. Better to either estimate and send a cheque or alternatively file online and get instant assessment.
Sybil

With regard to the medical expenses the easiest way is to get a Med 1 form from Revenue and send it in before you go through that awful Form 12. The Med 1 is an easy one page form and you will get a refund fairly quickly but only at the standard tax rate. You don't need to send in the receipts but should keep them for 6 years. The form comes with details of what you can and can't claim.

Thanks to all. And I hope everyone gets through the tough times.

Hi,
On the form 12, there are two big rectangles in the top left hand corner on page one. What do I put in these?

Also, what address do I sent it to?

Sorry for the silly questions.

Any help appreciated.

Top rectangle is your name and address

You can leave the 2nd one blank

Send the form to

Inspector of Taxes
Collector General
PO Box 354
Francis Street
Limerick

On this page, click on contact locator , type your PPSN into the dialogue box, click the 'Find Contact Details' button and you'll be given the address, phone and fax numbers etc for your regional office.

In my experience, the regional offices don't seem to like getting them direct at this time of year though and I have had a couple of instances where the original form has been "lost" by the regional office.

Never had one lost by CG in Limerick though!