Form 12 Tax Return

M

mycom

Guest
I've never had to file a tax return (ever). My only income is PAYE but I am a company director.
Last week I got a form 12 in the post, it looks very serious. What's happened? Do I need to fill it in? Should I get an accountant to do it for me?

Help!
 
If your only income is PAYE then you will not have much to fill in.

Form 12 is a lot shorter than form 11 for self-employed people.

Don't just ignore the form.

I never bother getting an accountant to fill mine in as most of
my income is PAYE besides a few vodafone dividends and deposit interest.
 
I just received the same form and as for mycom, I've never had to fill out such a form in the past and my only income is PAYE. The form arrived with no explanation letter or anything! Can someone explain what the form is for and why I might have received it?
 
Revenue sometimes unilaterally send out Form 12s to individual taxpayers. It's not necessarily a sign of any problem with your affairs. I must admit that the one and only time that I received one from them a few years ago I was going through a redundancy/unemployment situation and, between one thing and another, I did overlook it. I never heard anything about it since and I have continued to keep my tax affairs up to date by writing to them directly when any significant changes in circumstances arise (whether they be in my favour or theirs!). Not that I'm encouraging others to ignore any Form 12 sent to them by Revenue...
 
mycom said:
I've never had to file a tax return (ever). My only income is PAYE but I am a company director.
Last week I got a form 12 in the post, it looks very serious. What's happened? Do I need to fill it in? Should I get an accountant to do it for me?

Help!
Click to expand...


ALL company directors are obliged to file a form 12 tax return. There are serious (and imho unusually unfair) penalties for any directors who fails to file on time - including a 10% surcharge on their entire tax bill for the year (including PAYE deducted at source on the director's salary).

Seek immediate professional advice if you have any concerns about the impact this will have on you.
 
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