Do Step 1 on this page - http://www.ros.ie/PublisherServlet/info/setupnewcust
Under A on the next page register for Income Tax from the first dropdown.
Many thanks. I didn't seem to be eligible for ROS! What would be my reg no or ID?Do Step 1 on this page - http://www.ros.ie/PublisherServlet/info/setupnewcust
Under A on the next page register for Income Tax from the first dropdown.
Hi Jon snow. That looks perfect, thanks a million both responders. SlimNot a great idea to register for income tax unless he actually needs to.
OP, is this any use: http://www.revenue.ie/en/online/eform12/index.html
The calculations I had to do last year were mind blowing!!
Not a great idea to register for income tax unless he actually needs to.
Your PPS number.Many thanks. I didn't seem to be eligible for ROS! What would be my reg no or ID?
I didn't know about the eForm12 being available via ROS.
I'm also a PAYE worker with rental income. ROS allows me to enter my PAYE income, which I do first and make sure is correct before I add any extra income. I can then enter my rental income, expenses, etc. and the calculations are done for me.
Your PPS number.
What is the downside with registering for income tax?
I went several years unable to file a Form 12 electronically because of that mysterious "registered for income tax". It turned out that was Revenue-speak for "a chargeable person required to fill out a Form 11". That had happened because I filed a return for some non-PAYE income one year. But when I asked Revenue by phone if I had to fill out a Form 11 they got a bit shirty and said "not unless someone has asked you to". That left me in a bit of a limbo until, like you, I signed up for ROS and have been filing a Form 11 every year ever since, regardless of income sources.OK, tried the eform12 but I am not eligible as I was 'registered for income tax last year'. So, went back to ROS and have applied for RAN number. I will await the post and try to log in to ROS.
Thanks all.
Having a nightmare with revenue trying to pay cgt currently.
I rang the payments section to organise a DD for my (self assessed) liability from share sale. Payments section say I have to be registered for CGT & say call registration section. I call them and they tell me i need to register for Income Tax (TR1 form) and put my business down as share trading. I'm utterly confused as I'm a PAYE worker with a cgt gain. Another person tells me I have to wait until a CG1 form is processed for them to work out my liability. Revenue dont seem to know what I need to do, so how in the hell am I supposed to know!!!
Having a nightmare with revenue trying to pay cgt currently.
I rang the payments section to organise a DD for my (self assessed) liability from share sale. Payments section say I have to be registered for CGT & say call registration section. I call them and they tell me i need to register for Income Tax (TR1 form) and put my business down as share trading. I'm utterly confused as I'm a PAYE worker with a cgt gain. Another person tells me I have to wait until a CG1 form is processed for them to work out my liability. Revenue dont seem to know what I need to do, so how in the hell am I supposed to know!!!
Just a related question from me. I am NOT a PAYE worker, I am not in employment and not seeking work. I AM registered for income tax and I fill out a Form 11 every year, which basically is just a declaration of income from deposits and, since last year, a tiny amount of shares. Currently I have no way to pay PRSI towards a contributory pension, even though I pay lots of PRSI on unearned income. If -- like the previous poster said they were asked to -- I was to put down my business as share trading, could I be registered as self-employed and make a self-employed PRSI contribution? On the downside, would I have to submit accounts, audited or otherwise? (We're talking about a couple of transactions per year).
Not at all. Obviously it would depend on the definition of being engaged in a trade. Certainly, it is the one and only economic business I am involved in. (Everything else is unpaid charity work). I'm not that hung up about it -- I was just thinking of it from the point of view that I pay more PRSI than many PAYE workers, yet I am credited with no PRSI contributions for any purpose including contributory pension. The one thing I do know is that it is PRSI in name only, merely the government taking an extra 4% without wanting to call it tax.Whether you are engaged in a trade of share trading depends on the facts. I think you know yourself that you aren't engaged in such a trade.
It's entirely possible you are getting crossed wires / talking at cross purposes with various people in Revenue.
The system is self assessment, and consists of two parts - PAY (your tax) & FILE (your return).
For part 1 it's up to you to calculate your CGT bill and pay it by the due date for payment of tax (15th December if you make gains in Jan-Nov, and 31 January if you make gains in December).
For part 2, as a PAYE taxpayer you don't file a full income tax return (Form 11), you simply complete a CG1 and submit it by the following 31st October.
Not at all. Obviously it would depend on the definition of being engaged in a trade. Certainly, it is the one and only economic business I am involved in. (Everything else is unpaid charity work). I'm not that hung up about it -- I was just thinking of it from the point of view that I pay more PRSI than many PAYE workers, yet I am credited with no PRSI contributions for any purpose including contributory pension. The one thing I do know is that it is PRSI in name only, merely the government taking an extra 4% without wanting to call it tax.
That's my point. I would happily pay €500 class S contributions, but I am not classed as self-employed. Instead I pay a multiple of that under class K on "unearned" income, which qualifies me for nothing.Why do you think you aren't getting a contribution towards a contributory pension? If you are paying your €500 minimum class S PRSI annually then you will be getting 52 contributions towards your pension entitlement, no different than any other contributor in that class...?
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