Form 12 request from revenue

C

casperjack

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Hi

I just got a form 12 request from revenue. Why do they send these out. I am a single working parent and I claim working family payment but have no other income other than maintenance from my ex partner which I declare on my wfp form every year. I had a saving account in the bank with €5200 in it which I closed recently to put in the credit union as was trying to cut bank charges as bank was charging me every time I lodged money and took it out so all the transactions fees added up as I use it to save for yearly or monthly bills so I have money to hand to pay them. Have googled it and it seems you get form if you have another income source or rental property which I don't.

Is this form easy enough to fill in or should I pay an accountant from google search they seem to charge €250 which I don't really have to pay out.

Any advice appreciated. Thanks
 
got this too in the post today. I'm just a PAYE worker

I did it online using myaccount in just 5 mins

I founf it easy to do but I dont have any extra income and dont claim any benefits
 
I filled in online form myself yesterday. Got email straightaway acknowledging receipt. Then another this morning showing balancing statement. Unless you have incredibly complicated tax affairs, I would agree that one can fill in form online yourself.
 
The Form 12 is sent out randomly to a certain % each year. As long as you have a P60 it is very easy to fill out and even if you make a mess of it they will ring you up and clarify any mistakes.
 
As i am not able to do it online i requested a paper form which i received containing 20 pages. Is this the full form as i cannot see aany reference to a P60 on it. My only income is a Bank pension and social welfare payment. I have some funds on Deposit but the income after dirt is paractically nil. Any help would be appreciated
 
There is no actual reference to the P60 on it apart from maybe in the instructions. You just need your P60 to get the figures such as taxable income, gross pay etc. Sorry for confusion in my earlier post.
 
I have just filled in form 12, my only income is pension except this year I made a small profit selling my principle residence and purchasing another house. As the solicitor informs the tax office, do I have to declare this? I cannot see anywhere on Form 12
 
Your profit comes under the heading of Capital Gains Tax which requires a separate return
 
Deiseblue said:
Your profit comes under the heading of Capital Gains Tax which requires a separate return
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There's no CGT as it's his home. He does not need to do anything in relation to the sale and purchase.

I'm sure the online form just requires your income, your tax paid, both of which will be on your P60.
 
Bronte said:
There's no CGT as it's his home. He does not need to do anything in relation to the sale and purchase.

I'm sure the online form just requires your income, your tax paid, both of which will be on your P60.
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Are you sure that this is so? I had understood that the sale of a PPR must be returned on a tax return in order for the PPR exemption to be claimed?
 
casperjack said:
but have no other income other than maintenance from my ex partner which I declare on my wfp form every year
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It appears you received the Form 12 request because you declared maintenance income on your WFP form. In certain cases maintenance income can be taxable.

Jim Stafford
 
T McGibney said:
Are you sure that this is so? I had understood that the sale of a PPR must be returned on a tax return in order for the PPR exemption to be claimed?
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Well if this is so I can only imagine that most prsi workers who sold their homes never declared it on a tax form.

What if you're supposed to do so and you don't. Does that make you ineligible for the exemption?
 
Bronte said:
What if you're supposed to do so and you don't.
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If you fail to file a return, you are technically guilty of an offence. The practical implications of so doing in this case are unclear to the point that you'd hardly be prosecuted nor lose your PPR exemption on foot of something like that, but @Deiseblue's advice was correct.
 
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The tax office already know because the solicitor must inform the tax office, hence the reason for asking for my PPSI number. I think he fills in a special form
 
roker said:
The tax office already know because the solicitor must inform the tax office, hence the reason for asking for my PPSI number. I think he fills in a special form
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They'll know alright that you sold the property. Will they automatically know that you used it exclusively as your PPR throughout the time you owned it?
 
The solicitor collected copies of domestic bill for certain years throughout my 12 year occupation to prove residency to the tax office, why should I need to do this again?
 
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