My first online form12 return (dividends)

D

dazmck10

Registered User
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29
Hello,

I am a PAYE worker and last year I received US dividends and I just want to make sure i'm not missing anything.
I submitted my form12 online detailing the dividends and then I received a p21.

  1. The p21 does not mention PRSI anywhere. Do I pay PRSI on the dividends some other way? Or does revenue's MyAccount form12 handle all taxes owed on the dividends (income/USC/PRSI)?
  2. The p21 says that I underpaid but then says "This underpayment will not be collected at this time". Will revenue reduce my credits this year in order to pay for it?
  3. If revenue reduce my credits for this year do I have to inform my employer?
Thanks,
Darren
 
Last edited:
Thats handy, thanks for the reply!

dazmck10 said:
The p21 does not mention PRSI anywhere. Do I pay PRSI on the dividends some other way? Or does revenue's MyAccount form12 handle all taxes owed on the dividends (income/USC/PRSI)?
Click to expand...

Does anyone know about this?

Thanks
 
Oh interesting, so a PAYE worker does not pay PRSI on US dividends if the total amount is less than 5k euro?
 
dazmck10 said:
Oh interesting, so a PAYE worker does not pay PRSI on US dividends if the total amount is less than 5k euro?
Click to expand...
Appears so - if extra income required a Form 11 submission then it would trigger PRSI from the way it reads.
 
dazmck10 said:
Hello,

I am a PAYE worker and last year I received US dividends and I just want to make sure i'm not missing anything.
I submitted my form12 online detailing the dividends and then I received a p21.

  1. The p21 does not mention PRSI anywhere. Do I pay PRSI on the dividends some other way? Or does revenue's MyAccount form12 handle all taxes owed on the dividends (income/USC/PRSI)?
  2. The p21 says that I underpaid but then says "This underpayment will not be collected at this time". Will revenue reduce my credits this year in order to pay for it?
  3. If revenue reduce my credits for this year do I have to inform my employer?
Thanks,
Darren
Click to expand...
1. If you're not a "chargeable person" (i.e. if you're a PAYE worker with other income under €5,000 and not obliged to file a Form 11), you are not charged PRSI on your other income.

2. If the tax owed is quite small (less than €100 from memory), your credits will not be reduced to collect the tax due. The amount will be held on file and if you have other income in future years the whole lot will be collected by reducing your credits then.
 
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