so you are saying I can use form 12 now to declare income i had back in 2016 and 2017?There used to be a form 12 which was required for anyone on PAYE that had additional income of less than 5k. This could be back paid with little or no penalty. I've heard this has changed since but maybe someone can verify ?
2016 is not, 2017 is availableAre they available in your MyAccount services ? Not sure how far back they go. You do want to approach the matter so I'd start there. As I said they tend to be far more lenient on penalties for these.
Make an unprompted qualifying disclosure per the below link. That's what it's there for.I made some stupid mistakes back in 2016 and 2017. I was PAYE but I had some additional income (and had expenses as well) via a payment gateway into my Bank of Ireland account. the net was something around 5k for both years (payments - expenses). this was not declared in revenue.
i haven't received any letters/notifications from Revenue yet but I'm wondering what's the best way to approach this. do you have any suggestions?
2016 is not, 2017 is available
Thank you so much.This isn't an unprompted disclosure, as that would require an incorrect return to have been filed - it's simply the late filing of a return.
OP needs to figure out whether they're a chargeable person or not (5k of net assessable non-PAYE income being the threshold AFAIK), and file the appropriate form.
Form 12 for 2016 is available in a hard copy / PDF if needs be.
If OP is a chargeable person they'll need to register for income tax with effect from 2016 and will then be able to file outstanding Forms 11 on ROS.
Yes, it means the amount of income that you're assessed to tax on. So in a simple case like yours, income less expensesThank you so much.
Could you help me understand what "net assessable income" means? Is it income - expenses?
Thanks a lot @torblednamYes, it means the amount of income that you're assessed to tax on. So in a simple case like yours, income less expenses
Makes sense. thanks a lot!It's a late return.
The distinction is somewhat technical but relates to penalties, surcharges etc, and in essence, if you never filed a return previously then by definition you don't have a disclosure to make, you're just several years late filing a return.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?