Rental Income- Income levy

[guideanna]

Hi All,

Sorry another q about form 12 for my 2010 rental income.
Do i include a 2% levy on the income?

 

[mandelbrot]

No, in the same way that you don't include the tax or PRSI; it's Revenue's job to tell you how much you owe / are due, based on the details you provide on the Form12.

 

[guideanna]

i was trying to work it all out myself and send the cheque in with the form.

 

[Tomorrow]

To answer your question, income levy is payable on rental profit before any capital allowances.

But the easiest thing to do, especially as its only September is to make sure the Form 12 is filled out correctly and let Revenue come back to you with your liability

 

[guideanna]

thanks, ok might try that then, don't think i'tll be much anyway as it's my first year doin it and place was only rented for a few months of 2010.