Rental Income & Income Levy

[Brian_M]

Hi,

My wife and I have PAYE income primarily but also have some rental income. Each year we complete a form 12 declaring all income including the rental income and a balancing statement issues by Revenue. No tax has been payable on the rental income as to date expenses / capital allowances exceed rent and a rental loss situation exists.

In 2009 I will have a liability for the income levy on the rental income as it's not possible to deduct capital allowances or losses. Does anyone know how & when this liability is to be paid.

Regards,

Brian_m

 

[Gervan]

When would be by 31/10/10, and I would think you could attach your cheque to the Form 12.

 

[Gervan]

Correction to the above: I think you will have to pay the income levy as preliminary 2009 tax, due by 31/10/09.