ROS Help

[mur42]

Can anybody help me with the answer to a few questions?

1. I registered for IT during the year as I have a rental property and was under the believe I had to - I am a PAYE worker - have prepared rental accounts for 2010 which have a loss. My question is can I now de-registered for IT and fill in a Form 12 for 2010?

2. If not what parts of form 11 do I need to fill out - was on ROS last night trying to do it - filled out the personal details screen and rental income screen - do I have to fill out other details as in tax credits etc. I have already sent in my Med 1 for 2010 and have claimed all my credits.

 

[T McGibney]

If you have registered for Income Tax for a given year, you must file a Form 11 for that year. Technically you could try to get Revenue to cancel your registration in advance of 31 October, but if they fail to do so, you will be in default.

When completing a form 11 or form 12, you must take great care to claim all your credits etc, otherwise you will lose them, even the ones that have been allowed to you previously under MED1 and/or the PAYE system.